IFM Investors Pty Ltd Acquires 444 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

IFM Investors Pty Ltd grew its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 2.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,677 shares of the company’s stock after buying an additional 444 shares during the period. IFM Investors Pty Ltd’s holdings in Neurocrine Biosciences were worth $2,576,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Vestal Point Capital LP purchased a new stake in Neurocrine Biosciences during the fourth quarter valued at $105,408,000. Los Angeles Capital Management LLC lifted its holdings in shares of Neurocrine Biosciences by 66.0% in the 4th quarter. Los Angeles Capital Management LLC now owns 918,391 shares of the company’s stock valued at $121,007,000 after acquiring an additional 364,986 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Neurocrine Biosciences by 120.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 584,539 shares of the company’s stock valued at $65,761,000 after acquiring an additional 319,564 shares during the last quarter. Westfield Capital Management Co. LP grew its position in Neurocrine Biosciences by 73.0% in the third quarter. Westfield Capital Management Co. LP now owns 649,292 shares of the company’s stock worth $73,045,000 after acquiring an additional 273,952 shares in the last quarter. Finally, Norges Bank bought a new stake in Neurocrine Biosciences during the fourth quarter worth approximately $35,731,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. JPMorgan Chase & Co. increased their price target on Neurocrine Biosciences from $148.00 to $158.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. Barclays lifted their price target on shares of Neurocrine Biosciences from $145.00 to $150.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 23rd. The Goldman Sachs Group increased their price objective on shares of Neurocrine Biosciences from $134.00 to $153.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Wedbush restated an “outperform” rating and set a $147.00 target price on shares of Neurocrine Biosciences in a research report on Wednesday, April 17th. Finally, Mizuho increased their price target on Neurocrine Biosciences from $116.00 to $140.00 and gave the stock a “neutral” rating in a report on Thursday, February 8th. Six analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $142.38.

Insider Activity

In related news, insider Eiry Roberts sold 1,457 shares of the firm’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $140.79, for a total value of $205,131.03. Following the completion of the transaction, the insider now owns 20,832 shares in the company, valued at approximately $2,932,937.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider David W. Boyer sold 456 shares of the stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $141.96, for a total value of $64,733.76. Following the sale, the insider now owns 4,894 shares in the company, valued at $694,752.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Eiry Roberts sold 1,457 shares of Neurocrine Biosciences stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $140.79, for a total value of $205,131.03. Following the transaction, the insider now owns 20,832 shares of the company’s stock, valued at approximately $2,932,937.28. The disclosure for this sale can be found here. Insiders have sold a total of 186,994 shares of company stock worth $25,806,409 over the last 90 days. 4.40% of the stock is currently owned by corporate insiders.

Neurocrine Biosciences Price Performance

Neurocrine Biosciences stock traded down $1.77 during trading hours on Friday, reaching $135.99. The stock had a trading volume of 717,575 shares, compared to its average volume of 729,952. The company has a market cap of $13.53 billion, a price-to-earnings ratio of 56.19 and a beta of 0.25. The business’s 50 day moving average price is $136.63 and its 200-day moving average price is $127.85. Neurocrine Biosciences, Inc. has a 52 week low of $89.04 and a 52 week high of $148.37.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.31. Neurocrine Biosciences had a return on equity of 12.85% and a net margin of 13.23%. The business had revenue of $515.20 million for the quarter, compared to the consensus estimate of $518.52 million. During the same period in the prior year, the firm posted $0.88 earnings per share. The business’s quarterly revenue was up 25.0% on a year-over-year basis. On average, sell-side analysts forecast that Neurocrine Biosciences, Inc. will post 4.83 EPS for the current fiscal year.

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.