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Raiffeisen Bank International AG Increases Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Neurocrine Biosciences logo with Medical background

Key Points

  • Raiffeisen Bank International AG significantly increased its holdings in Neurocrine Biosciences by 42.6%, totaling 16,258 shares valued at approximately $1.84 million.
  • Wall Street analysts are optimistic about Neurocrine Biosciences, with a consensus target price of $160.90, indicating a "Moderate Buy" rating from most analysts.
  • The company's latest quarterly earnings exceeded expectations, reporting $1.06 EPS, which is higher than the analyst consensus estimate of $0.98, alongside a revenue growth of 16.5% year-over-year.
  • Looking to export and analyze Neurocrine Biosciences data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Raiffeisen Bank International AG lifted its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 42.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,258 shares of the company's stock after purchasing an additional 4,858 shares during the quarter. Raiffeisen Bank International AG's holdings in Neurocrine Biosciences were worth $1,839,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Y Intercept Hong Kong Ltd bought a new stake in Neurocrine Biosciences in the 1st quarter worth approximately $1,460,000. Golden State Wealth Management LLC boosted 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 period. Fifth Third Bancorp raised its holdings 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 acquiring an additional 254 shares in the last quarter. Cetera Investment Advisers boosted its stake in shares of Neurocrine Biosciences by 46.5% during the fourth quarter. Cetera Investment Advisers now owns 8,169 shares of the company's stock valued at $1,115,000 after purchasing an additional 2,593 shares in the last quarter. Finally, LPL Financial LLC increased its holdings in shares of Neurocrine Biosciences by 27.8% in the 4th quarter. LPL Financial LLC now owns 16,754 shares of the company's stock valued at $2,287,000 after acquiring an additional 3,643 shares during the period. Hedge funds and other institutional investors own 92.59% of the company's stock.

Insider Activity at Neurocrine Biosciences

In other news, Director Kevin Charles Gorman sold 9,613 shares of the firm's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $120.38, for a total transaction of $1,157,212.94. Following the sale, the director directly owned 514,596 shares in the company, valued at $61,947,066.48. This trade represents a 1.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jude Onyia sold 59,819 shares of the stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $130.46, for a total transaction of $7,803,986.74. Following the transaction, the insider directly owned 18,289 shares of the company's stock, valued at $2,385,982.94. This trade represents a 76.58% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 90,251 shares of company stock valued at $11,672,602. 4.80% of the stock is owned by corporate insiders.

Neurocrine Biosciences Trading Down 2.2%

Shares of Neurocrine Biosciences stock traded down $2.83 on Thursday, reaching $125.60. The stock had a trading volume of 1,225,621 shares, compared to its average volume of 1,004,925. The company has a market cap of $12.46 billion, a P/E ratio of 37.16, a price-to-earnings-growth ratio of 0.93 and a beta of 0.25. Neurocrine Biosciences, Inc. has a 1 year low of $84.23 and a 1 year high of $154.87. The business's 50 day moving average is $128.67 and its two-hundred day moving average is $120.62.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share for the quarter, beating analysts' consensus estimates of $0.98 by $0.08. Neurocrine Biosciences had a return on equity of 13.22% and a net margin of 13.88%. The company had revenue of $687.50 million during the quarter, compared to analyst estimates of $653.09 million. During the same quarter in the previous year, the company posted $1.63 EPS. Neurocrine Biosciences's revenue for the quarter was up 16.5% on a year-over-year basis. On average, equities analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on NBIX shares. Wall Street Zen upgraded Neurocrine Biosciences from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 2nd. BMO Capital Markets upped their price target on shares of Neurocrine Biosciences from $96.00 to $115.00 and gave the stock a "market perform" rating in a research report on Tuesday, May 6th. Canaccord Genuity Group raised their target price on shares of Neurocrine Biosciences from $158.00 to $160.00 and gave the stock a "buy" rating in a research note on Tuesday, May 6th. Morgan Stanley lifted their target price on shares of Neurocrine Biosciences from $150.00 to $158.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Finally, Guggenheim lifted their target price on Neurocrine Biosciences from $165.00 to $175.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Three investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $160.90.

View Our Latest Report on NBIX

Neurocrine Biosciences Profile

(Free Report)

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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Institutional Ownership by Quarter for Neurocrine Biosciences (NASDAQ:NBIX)

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