E Fund Management Co. Ltd. Purchases 4,206 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

E Fund Management Co. Ltd. increased its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 135.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 7,319 shares of the company’s stock after buying an additional 4,206 shares during the period. E Fund Management Co. Ltd.’s holdings in Neurocrine Biosciences were worth $1,008,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of NBIX. Principal Securities Inc. bought a new position in Neurocrine Biosciences in the 4th quarter worth $75,000. Dimensional Fund Advisors LP boosted its holdings in Neurocrine Biosciences by 1.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 336,536 shares of the company’s stock worth $44,343,000 after buying an additional 5,907 shares during the period. Envestnet Portfolio Solutions Inc. boosted its holdings in Neurocrine Biosciences by 3.2% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 2,530 shares of the company’s stock worth $333,000 after buying an additional 78 shares during the period. Janney Montgomery Scott LLC boosted its holdings in Neurocrine Biosciences by 87.5% in the 4th quarter. Janney Montgomery Scott LLC now owns 8,637 shares of the company’s stock worth $1,138,000 after buying an additional 4,030 shares during the period. Finally, ING Groep NV bought a new position in Neurocrine Biosciences in the 4th quarter worth $1,489,000. Institutional investors own 92.59% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NBIX. Morgan Stanley upped their target price on shares of Neurocrine Biosciences from $160.00 to $170.00 and gave the stock an “overweight” rating in a report on Friday, July 12th. Cantor Fitzgerald reissued an “overweight” rating and set a $155.00 price objective on shares of Neurocrine Biosciences in a report on Monday. Robert W. Baird increased their price objective on shares of Neurocrine Biosciences from $157.00 to $180.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Guggenheim increased their price objective on shares of Neurocrine Biosciences from $170.00 to $180.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, HC Wainwright reissued a “buy” rating and set a $190.00 price objective on shares of Neurocrine Biosciences in a report on Thursday, August 29th. Five analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $162.20.

Insider Activity

In other news, Director William H. Rastetter sold 14,250 shares of Neurocrine Biosciences stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $146.69, for a total transaction of $2,090,332.50. Following the completion of the sale, the director now owns 37,491 shares of the company’s stock, valued at $5,499,554.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director William H. Rastetter sold 14,250 shares of Neurocrine Biosciences stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $146.69, for a total transaction of $2,090,332.50. Following the completion of the sale, the director now owns 37,491 shares of the company’s stock, valued at $5,499,554.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ingrid Delaet sold 273 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $147.70, for a total transaction of $40,322.10. Following the completion of the transaction, the insider now directly owns 6,607 shares of the company’s stock, valued at approximately $975,853.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 71,798 shares of company stock valued at $10,676,096. Corporate insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Stock Performance

Neurocrine Biosciences stock opened at $119.85 on Thursday. The company has a 50 day moving average price of $139.59 and a 200-day moving average price of $138.37. Neurocrine Biosciences, Inc. has a fifty-two week low of $103.63 and a fifty-two week high of $157.98. The company has a market capitalization of $12.06 billion, a PE ratio of 33.02 and a beta of 0.37.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.52). Neurocrine Biosciences had a net margin of 16.00% and a return on equity of 14.86%. The company had revenue of $590.20 million for the quarter, compared to the consensus estimate of $545.98 million. During the same period in the prior year, the firm posted $0.95 EPS. The business’s revenue was up 30.4% on a year-over-year basis. On average, analysts forecast that Neurocrine Biosciences, Inc. will post 4.19 earnings per share for the current year.

Neurocrine Biosciences 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.