Machina Capital S.A.S. Invests $549,000 in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Machina Capital S.A.S. bought a new stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,169 shares of the company’s stock, valued at approximately $549,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FCF Advisors LLC purchased a new stake in shares of Neurocrine Biosciences in the 4th quarter worth about $1,157,000. abrdn plc grew its holdings in shares of Neurocrine Biosciences by 2,503.0% during the 4th quarter. abrdn plc now owns 83,633 shares of the company’s stock worth $11,019,000 after acquiring an additional 80,420 shares during the period. Redhawk Wealth Advisors Inc. purchased a new position in shares of Neurocrine Biosciences during the 4th quarter worth approximately $1,245,000. HealthInvest Partners AB purchased a new position in shares of Neurocrine Biosciences in the 4th quarter valued at approximately $1,662,000. Finally, Roman Butler Fullerton & Co. bought a new stake in shares of Neurocrine Biosciences during the fourth quarter valued at approximately $1,256,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on NBIX. Canaccord Genuity Group increased their price objective on Neurocrine Biosciences from $154.00 to $164.00 and gave the stock a “buy” rating in a report on Thursday. Mizuho lifted their price target on shares of Neurocrine Biosciences from $116.00 to $140.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. Barclays boosted their price objective on shares of Neurocrine Biosciences from $150.00 to $169.00 and gave the stock an “overweight” rating in a research note on Thursday. JPMorgan Chase & Co. raised their target price on shares of Neurocrine Biosciences from $148.00 to $158.00 and gave the company an “overweight” rating in a research note on Wednesday, March 20th. Finally, HC Wainwright boosted their price target on Neurocrine Biosciences from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday. Six investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $147.88.

Insider Activity at Neurocrine Biosciences

In related news, insider Eric Benevich sold 75,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $139.38, for a total value of $10,453,500.00. Following the transaction, the insider now owns 40,778 shares of the company’s stock, valued at $5,683,637.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Eric Benevich sold 75,000 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $139.38, for a total value of $10,453,500.00. Following the completion of the sale, the insider now directly owns 40,778 shares in the company, valued at approximately $5,683,637.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ingrid Delaet sold 5,000 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $145.06, for a total value of $725,300.00. Following the completion of the transaction, the insider now directly owns 7,507 shares in the company, valued at $1,088,965.42. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 181,547 shares of company stock worth $25,039,887. 4.30% of the stock is owned by insiders.

Neurocrine Biosciences Stock Performance

Shares of NBIX traded up $1.00 during mid-day trading on Monday, hitting $141.71. 483,775 shares of the company traded hands, compared to its average volume of 849,714. The stock has a market cap of $14.26 billion, a price-to-earnings ratio of 39.04 and a beta of 0.28. The stock has a 50-day moving average price of $137.49 and a two-hundred day moving average price of $129.22. Neurocrine Biosciences, Inc. has a 1 year low of $89.04 and a 1 year high of $148.37.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its earnings results on Wednesday, February 7th. The company reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.31. The business had revenue of $515.20 million during the quarter, compared to the consensus estimate of $518.52 million. Neurocrine Biosciences had a net margin of 18.65% and a return on equity of 17.45%. The firm’s revenue was up 25.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.88 EPS. On average, analysts forecast that Neurocrine Biosciences, Inc. will post 4.78 EPS for the current year.

Neurocrine Biosciences Company Profile

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.