Neurocrine Biosciences, Inc. $NBIX Shares Purchased by Atle Fund Management AB

Key Points

• Atle Fund Management AB increased its stake in Neurocrine Biosciences by 16.5%, now owning approximately 88,392 shares valued at $11.11 million, making it the fund's 4th largest holding.
• Multiple institutional investors significantly raised their stakes in Neurocrine Biosciences during the 1st quarter, with Dodge & Cox increasing its holdings by 83.5% to become a major stakeholder.
• Analysts are bullish on the stock, with UBS and Goldman Sachs setting target prices at $174.00 and $182.00 respectively, and a consensus rating of "Moderate Buy."

Atle Fund Management AB raised its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 16.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,392 shares of the company's stock after acquiring an additional 12,511 shares during the period. Neurocrine Biosciences makes up about 4.7% of Atle Fund Management AB's portfolio, making the stock its 4th biggest holding. Atle Fund Management AB owned approximately 0.09% of Neurocrine Biosciences worth $11,110,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dodge & Cox raised its holdings in shares of Neurocrine Biosciences by 83.5% during the 1st quarter. Dodge & Cox now owns 5,534,624 shares of the company's stock worth $612,129,000 after buying an additional 2,518,199 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Neurocrine Biosciences by 44.0% during the 1st quarter. Wellington Management Group LLP now owns 2,097,981 shares of the company's stock worth $232,037,000 after buying an additional 640,556 shares in the last quarter. Swedbank AB raised its holdings in shares of Neurocrine Biosciences by 5,078.9% during the 1st quarter. Swedbank AB now owns 429,697 shares of the company's stock worth $47,524,000 after buying an additional 421,400 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Neurocrine Biosciences by 1,405.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 393,455 shares of the company's stock worth $43,516,000 after buying an additional 367,315 shares in the last quarter. Finally, Braidwell LP raised its holdings in shares of Neurocrine Biosciences by 32.2% during the 1st quarter. Braidwell LP now owns 1,191,925 shares of the company's stock worth $131,827,000 after buying an additional 290,135 shares in the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NBIX has been the subject of a number of research analyst reports. UBS Group boosted their price target on Neurocrine Biosciences from $152.00 to $174.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. JPMorgan Chase & Co. boosted their price target on Neurocrine Biosciences from $140.00 to $145.00 and gave the stock a "neutral" rating in a report on Thursday, July 31st. The Goldman Sachs Group began coverage on Neurocrine Biosciences in a report on Thursday, July 10th. They issued a "buy" rating and a $182.00 target price for the company. Wall Street Zen raised Neurocrine Biosciences from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 2nd. Finally, Wedbush upped their target price on Neurocrine Biosciences from $137.00 to $141.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Seventeen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $160.26.

Neurocrine Biosciences Price Performance

Shares of Neurocrine Biosciences stock opened at $145.23 on Friday. Neurocrine Biosciences, Inc. has a one year low of $84.23 and a one year high of $154.61. The stock's 50-day moving average is $135.26 and its 200 day moving average is $122.13. The firm has a market cap of $14.40 billion, a price-to-earnings ratio of 42.97, a PEG ratio of 1.05 and a beta of 0.28.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last announced 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. 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 for the quarter, compared to analyst estimates of $653.09 million. During the same quarter in the prior year, the company earned $1.63 EPS. The firm's revenue for the quarter was up 16.5% compared to the same quarter last year. On average, sell-side analysts expect that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Insider Activity at Neurocrine Biosciences

In related news, Director Kevin Charles Gorman sold 106,322 shares of the company's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $126.41, for a total transaction of $13,440,164.02. Following the sale, the director owned 514,596 shares in the company, valued at $65,050,080.36. This represents a 17.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ingrid Delaet sold 457 shares of the stock in a transaction that occurred on Thursday, July 10th. The stock was 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 a total of 186,960 shares of company stock worth $23,955,553 in the last 90 days. Corporate insiders own 4.80% of the company's stock.

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.

Want to see what other hedge funds are holding NBIX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.