Sivia Capital Partners LLC Increases Stake in Neurocrine Biosciences, Inc. $NBIX

Sivia Capital Partners LLC grew its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 85.7% during the 4th quarter, HoldingsChannel reports. The fund owned 7,100 shares of the company’s stock after purchasing an additional 3,276 shares during the period. Sivia Capital Partners LLC’s holdings in Neurocrine Biosciences were worth $1,007,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. raised its stake in shares of Neurocrine Biosciences by 11.0% in the third quarter. JPMorgan Chase & Co. now owns 4,730,152 shares of the company’s stock valued at $664,019,000 after acquiring an additional 468,405 shares during the period. AQR Capital Management LLC raised its stake in shares of Neurocrine Biosciences by 83.7% in the third quarter. AQR Capital Management LLC now owns 2,773,648 shares of the company’s stock valued at $388,435,000 after acquiring an additional 1,263,633 shares during the period. Geode Capital Management LLC raised its stake in shares of Neurocrine Biosciences by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 2,059,282 shares of the company’s stock valued at $291,342,000 after acquiring an additional 34,457 shares during the period. Deerfield Management Company L.P. raised its stake in shares of Neurocrine Biosciences by 1.4% in the third quarter. Deerfield Management Company L.P. now owns 1,184,345 shares of the company’s stock valued at $166,258,000 after acquiring an additional 16,543 shares during the period. Finally, Norges Bank purchased a new stake in shares of Neurocrine Biosciences in the fourth quarter valued at $162,664,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Price Performance

NBIX stock opened at $165.11 on Thursday. The company has a market capitalization of $16.60 billion, a PE ratio of 25.44, a P/E/G ratio of 1.16 and a beta of 0.40. Neurocrine Biosciences, Inc. has a 12 month low of $122.14 and a 12 month high of $165.81. The firm’s 50-day moving average is $141.29 and its 200 day moving average is $139.38.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director Richard F. Pops sold 15,000 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $157.65, for a total transaction of $2,364,750.00. Following the transaction, the director directly owned 34,480 shares in the company, valued at $5,435,772. This represents a 30.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David W. Boyer sold 3,888 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $156.64, for a total transaction of $609,016.32. Following the transaction, the insider owned 7,799 shares in the company, valued at approximately $1,221,635.36. The trade was a 33.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 292,047 shares of company stock worth $45,216,687 over the last quarter. Corporate insiders own 4.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on NBIX. Morgan Stanley raised their price target on shares of Neurocrine Biosciences from $185.00 to $191.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. HC Wainwright raised their price target on shares of Neurocrine Biosciences from $192.00 to $215.00 and gave the stock a “buy” rating in a research note on Tuesday, April 7th. Zacks Research raised shares of Neurocrine Biosciences from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 15th. The Goldman Sachs Group began coverage on shares of Neurocrine Biosciences in a research note on Tuesday. They issued a “buy” rating and a $213.00 price target on the stock. Finally, Truist Financial raised their price target on shares of Neurocrine Biosciences from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $187.52.

Neurocrine Biosciences Company 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.