Capital Fund Management S.A. Acquires 71,117 Shares of Neurocrine Biosciences, Inc. $NBIX

Key Points

• Capital Fund Management S.A. increased its stake in Neurocrine Biosciences by 68.0%, acquiring an additional 71,117 shares, bringing its total holdings to 175,641 shares valued at approximately $19.4 million.
• Insider trading activity has been significant, with a key insider selling 59,819 shares for about $7.8 million, indicating a 76.58% decrease in their position.
• Analysts are optimistic about Neurocrine Biosciences, with several upgrading the stock to a "strong buy" and adjusting price targets up to $175.00, reflecting positive sentiment following strong earnings results.

Capital Fund Management S.A. raised its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 68.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 175,641 shares of the company's stock after buying an additional 71,117 shares during the period. Capital Fund Management S.A. owned about 0.18% of Neurocrine Biosciences worth $19,426,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in NBIX. Y Intercept Hong Kong Ltd bought a new stake in Neurocrine Biosciences in the 1st quarter valued at $1,460,000. Golden State Wealth Management LLC increased its holdings in shares of Neurocrine Biosciences by 116.9% in the first quarter. Golden State Wealth Management LLC now owns 397 shares of the company's stock valued at $44,000 after purchasing an additional 214 shares during the last quarter. Fifth Third Bancorp raised its position in shares of Neurocrine Biosciences by 31.7% in the first quarter. Fifth Third Bancorp now owns 1,056 shares of the company's stock valued at $117,000 after purchasing an additional 254 shares during the period. Cetera Investment Advisers lifted its stake in shares of Neurocrine Biosciences by 46.5% during the 4th quarter. Cetera Investment Advisers now owns 8,169 shares of the company's stock worth $1,115,000 after buying an additional 2,593 shares during the last quarter. Finally, Harbor Capital Advisors Inc. bought a new stake in shares of Neurocrine Biosciences during the 1st quarter worth about $48,000. 92.59% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Jude Onyia sold 59,819 shares of the firm's stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $130.46, for a total value of $7,803,986.74. Following the sale, the insider owned 18,289 shares of the company's stock, valued at approximately $2,385,982.94. This trade represents a 76.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Ingrid Delaet sold 457 shares of Neurocrine Biosciences stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $135.00, for a total value of $61,695.00. Following the completion of the transaction, the insider owned 4,730 shares in the company, valued at approximately $638,550. The trade was a 8.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 196,573 shares of company stock valued at $25,112,766 over the last three months. 4.80% of the stock is owned by insiders.

Neurocrine Biosciences Stock Up 0.3%

NBIX opened at $133.23 on Thursday. Neurocrine Biosciences, Inc. has a twelve month low of $84.23 and a twelve month high of $154.87. The company has a 50-day simple moving average of $129.70 and a 200 day simple moving average of $119.44. The stock has a market capitalization of $13.21 billion, a price-to-earnings ratio of 39.42, a P/E/G ratio of 0.96 and a beta of 0.25.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.98 by $0.08. The firm had revenue of $687.50 million for the quarter, compared to analyst estimates of $653.09 million. Neurocrine Biosciences had a net margin of 13.88% and a return on equity of 13.22%. The business's quarterly revenue was up 16.5% compared to the same quarter last year. During the same period last year, the firm earned $1.63 EPS. Sell-side analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on NBIX shares. Wall Street Zen raised shares of Neurocrine Biosciences from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 2nd. Morgan Stanley increased their target price on Neurocrine Biosciences from $150.00 to $158.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Evercore ISI lowered their price objective on Neurocrine Biosciences from $190.00 to $185.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. UBS Group boosted their target price on shares of Neurocrine Biosciences from $152.00 to $174.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Finally, Guggenheim raised their price target on shares of Neurocrine Biosciences from $165.00 to $175.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Eighteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $159.50.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, neuroendocrine, and neuropsychiatric disorders in the United States and internationally. The company's products include INGREZZA for tardive dyskinesia and chorea associated with Huntington's disease; ALKINDI for adrenal insufficiency; Efmody capsules for classic congenital adrenal hyperplasia; Orilissa tablets for endometriosis; and Oriahnn capsules to treat uterine fibroids.

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