Mediolanum International Funds Ltd Sells 15,811 Shares of Neurocrine Biosciences, Inc. $NBIX

Mediolanum International Funds Ltd lessened its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 82.4% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,374 shares of the company’s stock after selling 15,811 shares during the period. Mediolanum International Funds Ltd’s holdings in Neurocrine Biosciences were worth $473,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Geneos Wealth Management Inc. boosted its position 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 purchasing an additional 135 shares during the last quarter. Golden State Wealth Management LLC boosted its holdings in shares of 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 shares of Neurocrine Biosciences in the 3rd quarter worth about $27,000. Quent Capital LLC bought a new position in Neurocrine Biosciences during the third quarter valued at about $32,000. Finally, MAI Capital Management increased its holdings in Neurocrine Biosciences by 101.2% during the second quarter. MAI Capital Management now owns 328 shares of the company’s stock worth $41,000 after buying an additional 165 shares during the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on NBIX. Citigroup boosted their target price on shares of Neurocrine Biosciences from $175.00 to $203.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Mizuho increased their price objective on Neurocrine Biosciences from $146.00 to $175.00 and gave the company a “neutral” rating in a report on Friday, December 12th. Wall Street Zen lowered Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Morgan Stanley reissued an “equal weight” rating and issued a $175.00 price objective (up previously from $173.00) on shares of Neurocrine Biosciences in a report on Thursday, January 8th. Finally, TD Cowen upped their price objective on shares of Neurocrine Biosciences from $175.00 to $200.00 and gave the company a “buy” rating in a report on Friday, December 5th. Seventeen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $174.25.

Neurocrine Biosciences Stock Up 1.0%

Neurocrine Biosciences stock opened at $138.98 on Wednesday. The business has a 50-day simple moving average of $142.97 and a 200 day simple moving average of $140.38. Neurocrine Biosciences, Inc. has a 52 week low of $84.23 and a 52 week high of $160.18. The stock has a market cap of $13.86 billion, a price-to-earnings ratio of 33.25, a PEG ratio of 0.64 and a beta of 0.31.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, CEO Kyle Gano sold 36,400 shares of the business’s stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $132.70, for a total value of $4,830,280.00. Following the completion of the transaction, the chief executive officer owned 140,407 shares of the company’s stock, valued at $18,632,008.90. The trade was a 20.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director George J. Morrow sold 15,000 shares of the firm’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $143.37, for a total transaction of $2,150,550.00. Following the sale, the director owned 7,068 shares in the company, valued at approximately $1,013,339.16. This trade represents a 67.97% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 61,966 shares of company stock valued at $8,625,166. Company insiders own 4.30% of the company’s stock.

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.