Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Shares Purchased by XTX Topco Ltd

Key Points

• XTX Topco Ltd significantly increased its stake in Neurocrine Biosciences, raising ownership by 184.8% after acquiring an additional 12,688 shares, bringing its total to 19,554 shares valued at approximately $2.16 million.
• Multiple institutional investors have shown strong interest in Neurocrine, with holdings >90% of the stock, indicating robust institutional confidence in the company.
• Analysts maintain a consensus "Moderate Buy" rating for Neurocrine Biosciences, with a price target of $163.87, suggesting potential growth in the stock's value.

XTX Topco Ltd boosted its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 184.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,554 shares of the company's stock after acquiring an additional 12,688 shares during the period. XTX Topco Ltd's holdings in Neurocrine Biosciences were worth $2,163,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. LPL Financial LLC increased its stake in shares of Neurocrine Biosciences by 27.8% in the fourth quarter. LPL Financial LLC now owns 16,754 shares of the company's stock worth $2,287,000 after purchasing an additional 3,643 shares in the last quarter. Norges Bank purchased a new position in Neurocrine Biosciences during the fourth quarter valued at approximately $44,403,000. Allstate Corp purchased a new position in Neurocrine Biosciences during the fourth quarter valued at approximately $397,000. Wellington Management Group LLP grew its stake in Neurocrine Biosciences by 102.9% in the 4th quarter. Wellington Management Group LLP now owns 1,457,425 shares of the company's stock worth $198,939,000 after buying an additional 739,199 shares in the last quarter. Finally, AIA Group Ltd purchased a new position in Neurocrine Biosciences in the 4th quarter worth approximately $232,000. Institutional investors own 92.59% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on NBIX. Evercore ISI cut their price target on shares of Neurocrine Biosciences from $190.00 to $185.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Piper Sandler boosted their price target on shares of Neurocrine Biosciences from $154.00 to $175.00 and gave the stock an "overweight" rating in a research note on Thursday. The Goldman Sachs Group started coverage on shares of Neurocrine Biosciences in a report on Thursday, July 10th. They issued a "buy" rating and a $182.00 price objective for the company. UBS Group boosted their price objective on shares of Neurocrine Biosciences from $152.00 to $174.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Finally, Morgan Stanley upped their price target on shares of Neurocrine Biosciences from $150.00 to $158.00 and gave the company an "overweight" rating in a report on Thursday. Three analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $160.90.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Ingrid Delaet sold 457 shares of the business's stock in a transaction dated 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 directly owned 4,730 shares in the company, valued at approximately $638,550. The trade was a 8.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William H. Rastetter sold 30,000 shares of the business's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $110.20, for a total transaction of $3,306,000.00. Following the completion of the transaction, the director owned 37,491 shares of the company's stock, valued at $4,131,508.20. This represents a 44.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 120,251 shares of company stock valued at $14,978,602 over the last ninety days. Company insiders own 4.80% of the company's stock.

Neurocrine Biosciences Stock Performance

Shares of Neurocrine Biosciences stock traded up $0.68 on Friday, hitting $128.91. 1,395,006 shares of the company traded hands, compared to its average volume of 901,206. The stock has a market capitalization of $12.79 billion, a P/E ratio of 38.14, a price-to-earnings-growth ratio of 1.32 and a beta of 0.25. Neurocrine Biosciences, Inc. has a 52 week low of $84.23 and a 52 week high of $157.40. The business has a 50-day simple moving average of $128.26 and a 200 day simple moving average of $120.88.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.08. The company had revenue of $687.50 million for the quarter, compared to analysts' expectations of $653.09 million. Neurocrine Biosciences had a net margin of 13.88% and a return on equity of 13.22%. Neurocrine Biosciences's quarterly revenue was up 16.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.63 earnings per share. Research analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

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.