Connor Clark & Lunn Investment Management Ltd. Raises Holdings in Neurocrine Biosciences, Inc. $NBIX

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 13.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 281,113 shares of the company’s stock after purchasing an additional 32,480 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Neurocrine Biosciences were worth $39,463,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Geneos Wealth Management Inc. boosted its position in shares of Neurocrine Biosciences by 143.6% during the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after buying an additional 135 shares during the last quarter. Golden State Wealth Management LLC raised its position in Neurocrine Biosciences by 120.5% in the 3rd quarter. Golden State Wealth Management LLC now owns 183 shares of the company’s stock worth $26,000 after buying an additional 100 shares during the last quarter. Eastern Bank purchased a new position in Neurocrine Biosciences in the 3rd quarter worth about $27,000. Quent Capital LLC bought a new position in Neurocrine Biosciences during the 3rd quarter valued at about $32,000. Finally, MAI Capital Management boosted its holdings in shares of Neurocrine Biosciences by 101.2% during the 2nd quarter. MAI Capital Management now owns 328 shares of the company’s stock valued at $41,000 after acquiring an additional 165 shares during the last quarter. 92.59% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Stifel Nicolaus lifted their price target on shares of Neurocrine Biosciences from $183.00 to $188.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Wedbush raised their target price on shares of Neurocrine Biosciences from $149.00 to $151.00 and gave the stock an “outperform” rating in a report on Thursday, February 12th. Wells Fargo & Company cut their target price on shares of Neurocrine Biosciences from $180.00 to $175.00 and set an “overweight” rating for the company in a research report on Friday, February 13th. Morgan Stanley reiterated an “equal weight” rating and set a $175.00 target price (up from $173.00) on shares of Neurocrine Biosciences in a research note on Thursday, January 8th. Finally, Wolfe Research initiated coverage on Neurocrine Biosciences in a report on Tuesday, February 24th. They set an “outperform” rating and a $160.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $175.10.

Neurocrine Biosciences Stock Performance

NASDAQ:NBIX opened at $127.78 on Friday. The stock has a 50-day simple moving average of $133.29 and a two-hundred day simple moving average of $140.27. The firm has a market capitalization of $12.82 billion, a PE ratio of 27.42, a P/E/G ratio of 0.68 and a beta of 0.32. Neurocrine Biosciences, Inc. has a 52-week low of $84.23 and a 52-week high of $160.18.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data on Wednesday, February 11th. The company reported $1.88 EPS for the quarter, missing the consensus estimate of $2.36 by ($0.48). Neurocrine Biosciences had a return on equity of 16.48% and a net margin of 16.73%.The company had revenue of $805.50 million during the quarter, compared to the consensus estimate of $804.21 million. During the same period last year, the business earned $1.69 EPS. The firm’s quarterly revenue was up 28.3% compared to the same quarter last year. Equities analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director Leslie V. Norwalk sold 1,190 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $155.09, for a total value of $184,557.10. Following the completion of the transaction, the director directly owned 6,239 shares in the company, valued at $967,606.51. This represents a 16.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Kyle Gano sold 36,400 shares of the stock in a transaction on Friday, January 16th. The stock was sold at an average price of $132.70, for a total transaction of $4,830,280.00. Following the completion of the sale, the chief executive officer directly owned 140,407 shares of the company’s stock, valued at approximately $18,632,008.90. This trade represents a 20.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 42,590 shares of company stock valued at $5,775,987 over the last three months. 4.80% of the stock is currently owned by insiders.

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.