Neurocrine Biosciences, Inc. $NBIX Shares Purchased by Carmignac Gestion

Key Points

• Carmignac Gestion increased its Neurocrine Biosciences stake by 15.1% in the second quarter, acquiring 28,100 shares and bringing its holdings to 214,100 shares valued at approximately $36.1 million. Institutional investors collectively own 92.59% of NBIX.
• Neurocrine reported strong quarterly results, with EPS of $2.85 versus the $1.65 consensus estimate and revenue of $959 million, up 39.5% year over year.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $201.05 target price, although insiders sold 40,188 shares worth $7.1 million during the latest quarter.

Carmignac Gestion raised its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 15.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 214,100 shares of the company's stock after acquiring an additional 28,100 shares during the quarter. Carmignac Gestion owned approximately 0.21% of Neurocrine Biosciences worth $36,083,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. DJE Kapital AG acquired a new position in Neurocrine Biosciences in the 4th quarter valued at about $28,000. Geneos Wealth Management Inc. boosted its stake in shares of Neurocrine Biosciences by 143.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company's stock worth $25,000 after purchasing an additional 135 shares during the last quarter. Meeder Asset Management Inc. boosted its stake in shares of Neurocrine Biosciences by 651.6% during the 4th quarter. Meeder Asset Management Inc. now owns 233 shares of the company's stock worth $33,000 after purchasing an additional 202 shares during the last quarter. Basecamp Wealth Advisors LLC grew its holdings in shares of Neurocrine Biosciences by 582.9% during the first quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company's stock worth $31,000 after buying an additional 204 shares in the last quarter. Finally, Cassaday & Co Wealth Management LLC purchased a new stake in shares of Neurocrine Biosciences during the first quarter worth about $33,000. Institutional investors and hedge funds own 92.59% of the company's stock.

Neurocrine Biosciences Stock Performance

Shares of NBIX traded down $0.51 during trading hours on Tuesday, hitting $155.13. The stock had a trading volume of 818,720 shares, compared to its average volume of 1,198,493. Neurocrine Biosciences, Inc. has a 12-month low of $122.14 and a 12-month high of $186.12. The firm has a market cap of $15.77 billion, a P/E ratio of 22.75, a P/E/G ratio of 0.73 and a beta of 0.38. The company's fifty day simple moving average is $165.70 and its 200 day simple moving average is $150.66.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last announced its quarterly earnings results on Friday, July 31st. The company reported $2.85 EPS for the quarter, topping the consensus estimate of $1.65 by $1.20. The company had revenue of $959.00 million during the quarter, compared to analyst estimates of $891.16 million. Neurocrine Biosciences had a return on equity of 22.43% and a net margin of 20.91%.The firm's revenue was up 39.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.65 earnings per share. As a group, sell-side analysts predict that Neurocrine Biosciences, Inc. will post 7.25 earnings per share for the current fiscal year.

Analyst Ratings Changes

NBIX has been the topic of several analyst reports. Zacks Research cut Neurocrine Biosciences from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 4th. Wells Fargo & Company upped their target price on Neurocrine Biosciences from $175.00 to $200.00 and gave the company an "overweight" rating in a research note on Friday, July 17th. Wedbush raised their price target on Neurocrine Biosciences from $185.00 to $194.00 and gave the stock an "outperform" rating in a research note on Monday, August 3rd. Truist Financial upped their price objective on shares of Neurocrine Biosciences from $200.00 to $213.00 and gave the company a "buy" rating in a research note on Monday, August 3rd. Finally, Stifel Nicolaus upped their price objective on shares of Neurocrine Biosciences from $188.00 to $215.00 and gave the company a "buy" rating in a research note on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $201.05.

Insider Buying and Selling

In other news, insider Darin Lippoldt sold 10,000 shares of the firm's stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $179.60, for a total value of $1,796,000.00. Following the transaction, the insider owned 54,729 shares of the company's stock, valued at approximately $9,829,328.40. This trade represents a 15.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Leslie V. Norwalk sold 1,250 shares of the business's stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $182.01, for a total value of $227,512.50. Following the transaction, the director owned 1,588 shares in the company, valued at approximately $289,031.88. This represents a 44.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 40,188 shares of company stock valued at $7,118,633. 4.60% of the stock is currently owned by corporate insiders.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences NASDAQ: NBIX is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research‐driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine's operations encompass drug discovery, clinical development and commercialization activities.

The company's lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.

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