Neurocrine Biosciences, Inc. $NBIX Stake Boosted by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 345.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 248,633 shares of the company’s stock after purchasing an additional 192,768 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.25% of Neurocrine Biosciences worth $31,251,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of NBIX. IFP Advisors Inc lifted its position in shares of Neurocrine Biosciences by 4.2% in the 2nd quarter. IFP Advisors Inc now owns 2,172 shares of the company’s stock worth $273,000 after buying an additional 88 shares during the last quarter. Linden Thomas Advisory Services LLC raised its stake in Neurocrine Biosciences by 1.5% during the second quarter. Linden Thomas Advisory Services LLC now owns 6,699 shares of the company’s stock worth $842,000 after acquiring an additional 96 shares during the period. DE Burlo Group Inc. lifted its holdings in Neurocrine Biosciences by 2.2% in the first quarter. DE Burlo Group Inc. now owns 4,717 shares of the company’s stock worth $522,000 after acquiring an additional 100 shares during the last quarter. Central Pacific Bank Trust Division boosted its stake in Neurocrine Biosciences by 6.2% in the second quarter. Central Pacific Bank Trust Division now owns 1,725 shares of the company’s stock valued at $217,000 after acquiring an additional 100 shares during the period. Finally, AdvisorShares Investments LLC grew its holdings in shares of Neurocrine Biosciences by 2.8% during the second quarter. AdvisorShares Investments LLC now owns 3,666 shares of the company’s stock valued at $461,000 after purchasing an additional 100 shares during the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NBIX. Canaccord Genuity Group boosted their price objective on Neurocrine Biosciences from $160.00 to $164.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Wedbush reiterated an “outperform” rating on shares of Neurocrine Biosciences in a research note on Monday, September 22nd. Piper Sandler upped their price target on shares of Neurocrine Biosciences from $175.00 to $179.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Royal Bank Of Canada lifted their price objective on shares of Neurocrine Biosciences from $156.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, October 29th. Finally, Zacks Research upgraded shares of Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $170.26.

Neurocrine Biosciences Price Performance

Neurocrine Biosciences stock opened at $152.37 on Monday. Neurocrine Biosciences, Inc. has a 12-month low of $84.23 and a 12-month high of $157.67. The stock has a market capitalization of $15.19 billion, a PE ratio of 36.45, a price-to-earnings-growth ratio of 0.94 and a beta of 0.22. The firm has a 50 day simple moving average of $142.02 and a 200-day simple moving average of $131.63.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.46. The firm had revenue of $794.90 million during the quarter, compared to analyst estimates of $746.61 million. Neurocrine Biosciences had a return on equity of 15.82% and a net margin of 15.95%.The firm’s quarterly revenue was up 27.8% on a year-over-year basis. During the same period last year, the company posted $1.81 EPS. On average, analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director William H. Rastetter sold 18,000 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $151.82, for a total value of $2,732,760.00. Following the completion of the transaction, the director directly owned 40,360 shares in the company, valued at $6,127,455.20. This trade represents a 30.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Kyle Gano sold 300 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $141.97, for a total transaction of $42,591.00. Following the sale, the chief executive officer owned 140,407 shares in the company, valued at $19,933,581.79. This represents a 0.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 4.80% of the company’s stock.

About Neurocrine Biosciences

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.