KBC Group NV Boosts Stock Position in Neurocrine Biosciences, Inc. $NBIX

KBC Group NV grew its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 5.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 14,566 shares of the company’s stock after acquiring an additional 731 shares during the period. KBC Group NV’s holdings in Neurocrine Biosciences were worth $1,830,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Geneos Wealth Management Inc. boosted its stake in Neurocrine Biosciences by 143.6% in the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after buying an additional 135 shares in the last quarter. WPG Advisers LLC purchased a new position in shares of Neurocrine Biosciences during the first quarter worth approximately $32,000. SVB Wealth LLC bought a new stake in shares of Neurocrine Biosciences in the 1st quarter worth approximately $35,000. True Wealth Design LLC lifted its holdings in shares of Neurocrine Biosciences by 1,215.4% in the 2nd quarter. True Wealth Design LLC now owns 342 shares of the company’s stock worth $43,000 after acquiring an additional 316 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its stake in shares of Neurocrine Biosciences by 6,285.7% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 447 shares of the company’s stock valued at $49,000 after purchasing an additional 440 shares in the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

Neurocrine Biosciences Price Performance

NBIX opened at $144.86 on Monday. Neurocrine Biosciences, Inc. has a one year low of $84.23 and a one year high of $157.67. The business has a 50 day simple moving average of $142.64 and a two-hundred day simple moving average of $133.04. The firm has a market capitalization of $14.44 billion, a price-to-earnings ratio of 34.66, a PEG ratio of 0.94 and a beta of 0.22.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its earnings results on Tuesday, October 28th. The company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.59. The firm had revenue of $794.90 million for the quarter, compared to analysts’ expectations of $746.61 million. Neurocrine Biosciences had a return on equity of 15.82% and a net margin of 15.95%.The business’s revenue was up 27.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.81 earnings per share. As a group, sell-side analysts expect that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Insiders Place Their Bets

In other 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 sale, the director directly owned 40,360 shares of the company’s stock, valued at approximately $6,127,455.20. This trade represents a 30.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Kyle Gano sold 300 shares of Neurocrine Biosciences stock in a transaction dated 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 directly owned 140,407 shares in the company, valued at $19,933,581.79. The trade was a 0.21% decrease in their position. The disclosure for this sale is available in the SEC filing. 4.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on NBIX shares. Piper Sandler lifted their target price 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. Citigroup lifted their price objective on Neurocrine Biosciences from $175.00 to $203.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Wall Street Zen raised Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a research note on Saturday, August 2nd. JPMorgan Chase & Co. lifted their price target on Neurocrine Biosciences from $171.00 to $179.00 and gave the stock an “overweight” rating in a research note on Monday, November 3rd. Finally, Guggenheim increased their price objective on Neurocrine Biosciences from $165.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $170.53.

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.