Neurocrine Biosciences, Inc. $NBIX Shares Purchased by Candriam S.C.A.

Candriam S.C.A. lifted its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 32.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 344,883 shares of the company’s stock after purchasing an additional 83,957 shares during the period. Candriam S.C.A. owned about 0.34% of Neurocrine Biosciences worth $49,097,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Ethic Inc. boosted its stake in Neurocrine Biosciences by 11.1% in the third quarter. Ethic Inc. now owns 1,909 shares of the company’s stock valued at $271,000 after acquiring an additional 191 shares during the last quarter. Formidable Asset Management LLC purchased a new stake in shares of Neurocrine Biosciences during the 3rd quarter worth approximately $428,000. AlphaCentric Advisors LLC raised its holdings in shares of Neurocrine Biosciences by 5.2% in the 3rd quarter. AlphaCentric Advisors LLC now owns 10,230 shares of the company’s stock worth $1,451,000 after purchasing an additional 503 shares during the period. Parallel Advisors LLC raised its holdings in shares of Neurocrine Biosciences by 3.5% in the 3rd quarter. Parallel Advisors LLC now owns 1,780 shares of the company’s stock worth $252,000 after purchasing an additional 61 shares during the period. Finally, Privium Fund Management B.V. purchased a new position in Neurocrine Biosciences in the third quarter valued at approximately $3,716,000. 92.59% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director George J. Morrow sold 7,500 shares of the stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $145.79, for a total value of $1,093,425.00. Following the transaction, the director owned 10,386 shares of the company’s stock, valued at $1,514,174.94. This represents a 41.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Boyer sold 826 shares of the stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $157.45, for a total transaction of $130,053.70. Following the completion of the transaction, the insider directly owned 8,722 shares of the company’s stock, valued at approximately $1,373,278.90. The trade was a 8.65% decrease in their ownership of the stock. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 18,137 shares of company stock worth $2,829,332. Corporate insiders own 4.60% of the company’s stock.

Neurocrine Biosciences Stock Performance

Shares of NBIX stock opened at $164.63 on Friday. The company has a market capitalization of $16.66 billion, a PE ratio of 24.43, a price-to-earnings-growth ratio of 0.73 and a beta of 0.36. Neurocrine Biosciences, Inc. has a 52-week low of $122.14 and a 52-week high of $186.12. The business’s fifty day moving average is $147.22 and its 200 day moving average is $148.05.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its earnings results on Monday, November 2nd. The company reported $3.29 EPS for the quarter, topping the consensus estimate of $1.91 by $1.38. Neurocrine Biosciences had a return on equity of 23.39% and a net margin of 18.98%. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the previous year, the business earned $2.04 earnings per share. The firm’s revenue was up 41.3% on a year-over-year basis. On average, sell-side analysts forecast that Neurocrine Biosciences, Inc. will post 8.41 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. TD Cowen increased their price objective on Neurocrine Biosciences from $200.00 to $220.00 and gave the company a “buy” rating in a report on Friday, July 31st. Piper Sandler raised their target price on Neurocrine Biosciences from $210.00 to $215.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 3rd. Stifel Nicolaus boosted their target price on Neurocrine Biosciences from $188.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Citigroup upped their price target on Neurocrine Biosciences from $249.00 to $253.00 and gave the company a “buy” rating in a research report on Thursday, September 3rd. Finally, Wall Street Zen upgraded Neurocrine Biosciences from a “hold” rating to a “buy” rating in a research note on Saturday. 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 an average rating of “Moderate Buy” and a consensus price target of $202.32.

About Neurocrine Biosciences

Neurocrine Biosciences is a biopharmaceutical company focused on developing and commercializing treatments for neurological, endocrine and related disorders. Founded in 1992 and headquartered in San Diego, California, the company conducts research and development alongside its commercial operations.

Its marketed medicines include INGREZZA (valbenazine), approved in the United States for tardive dyskinesia and chorea associated with Huntington disease, and CRENESSITY (crinecerfont), used with glucocorticoid replacement therapy to treat classic congenital adrenal hyperplasia in adults and children.

Neurocrine primarily serves the U.S.