Carmignac Gestion Raises Stock Holdings in Neurocrine Biosciences, Inc. $NBIX

Carmignac Gestion boosted its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 15.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 214,100 shares of the company’s stock after purchasing an additional 28,100 shares during the quarter. Carmignac Gestion’s holdings in Neurocrine Biosciences were worth $36,083,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in NBIX. NewEdge Advisors LLC boosted its stake in shares of Neurocrine Biosciences by 0.5% during the 1st quarter. NewEdge Advisors LLC now owns 13,066 shares of the company’s stock valued at $1,721,000 after buying an additional 68 shares during the last quarter. Huntington National Bank increased its stake in shares of Neurocrine Biosciences by 12.6% in the fourth quarter. Huntington National Bank now owns 678 shares of the company’s stock worth $96,000 after buying an additional 76 shares during the last quarter. Motley Fool Asset Management LLC raised its holdings in Neurocrine Biosciences by 4.8% in the fourth quarter. Motley Fool Asset Management LLC now owns 1,693 shares of the company’s stock valued at $240,000 after acquiring an additional 78 shares in the last quarter. Main Management ETF Advisors LLC boosted its stake in Neurocrine Biosciences by 1.0% during the 4th quarter. Main Management ETF Advisors LLC now owns 7,830 shares of the company’s stock valued at $1,111,000 after acquiring an additional 80 shares during the last quarter. Finally, Westpac Banking Corp boosted its stake in Neurocrine Biosciences by 6.0% during the 1st quarter. Westpac Banking Corp now owns 1,615 shares of the company’s stock valued at $213,000 after acquiring an additional 91 shares during the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Darin Lippoldt sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $179.60, for a total transaction of $1,796,000.00. Following the completion of the transaction, the insider owned 54,729 shares in the company, valued at $9,829,328.40. The trade was a 15.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Leslie Norwalk sold 1,250 shares of the company’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $182.01, for a total value of $227,512.50. Following the transaction, the director owned 1,588 shares of the company’s stock, valued at approximately $289,031.88. The trade was a 44.05% 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. Over the last ninety days, insiders sold 40,188 shares of company stock valued at $7,118,633. 4.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Canaccord Genuity Group boosted their target price on shares of Neurocrine Biosciences from $200.00 to $210.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. The Goldman Sachs Group started coverage on Neurocrine Biosciences in a report on Tuesday, June 2nd. They issued a “buy” rating and a $213.00 price objective for the company. Royal Bank Of Canada restated an “outperform” rating and set a $198.00 price objective on shares of Neurocrine Biosciences in a research note on Tuesday. Stifel Nicolaus increased their target price on Neurocrine Biosciences from $188.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Finally, Guggenheim boosted their price target on Neurocrine Biosciences from $200.00 to $222.00 and gave the company a “buy” rating in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $201.05.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ NBIX traded down $0.51 during midday trading on Tuesday, hitting $155.13. The company’s stock had a trading volume of 818,720 shares, compared to its average volume of 1,198,493. Neurocrine Biosciences, Inc. has a 1-year low of $122.14 and a 1-year high of $186.12. The firm’s fifty day moving average price is $165.70 and its 200-day moving average price is $150.66. The firm has a market cap of $15.77 billion, a P/E ratio of 22.75, a P/E/G ratio of 0.73 and a beta of 0.38.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its earnings results on Friday, July 31st. The company reported $2.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $1.20. Neurocrine Biosciences had a net margin of 20.91% and a return on equity of 22.43%. The firm had revenue of $959.00 million for the quarter, compared to analysts’ expectations of $891.16 million. During the same quarter last year, the company posted $1.65 earnings per share. Neurocrine Biosciences’s revenue was up 39.5% on a year-over-year basis. As a group, research analysts predict that Neurocrine Biosciences, Inc. will post 7.25 earnings per share for the current fiscal year.

Neurocrine Biosciences Profile

Neurocrine Biosciences (NASDAQ: NBIX) is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research‐driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine’s operations encompass drug discovery, clinical development and commercialization activities.

The company’s lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.