18,506 Shares in Neurocrine Biosciences, Inc. $NBIX Bought by OP Asset Management Ltd

OP Asset Management Ltd acquired a new position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the 1st quarter, Holdings Channel reports. The fund acquired 18,506 shares of the company’s stock, valued at approximately $2,438,000.

A number of other large investors have also recently added to or reduced their stakes in NBIX. Royal Bank of Canada lifted its holdings in shares of Neurocrine Biosciences by 36.7% in the first quarter. Royal Bank of Canada now owns 82,810 shares of the company’s stock valued at $9,158,000 after purchasing an additional 22,224 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Neurocrine Biosciences by 60.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,783 shares of the company’s stock worth $1,647,000 after purchasing an additional 5,577 shares in the last quarter. NewEdge Advisors LLC increased its stake in shares of Neurocrine Biosciences by 56.3% during the 1st quarter. NewEdge Advisors LLC now owns 7,630 shares of the company’s stock worth $844,000 after purchasing an additional 2,747 shares in the last quarter. Empowered Funds LLC acquired a new position in shares of Neurocrine Biosciences during the 1st quarter worth approximately $1,333,000. Finally, Geneos Wealth Management Inc. raised its position in shares of Neurocrine Biosciences by 143.6% during the 1st 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. 92.59% of the stock is owned by institutional investors and hedge funds.

Neurocrine Biosciences Trading Up 2.6%

NBIX stock opened at $168.52 on Friday. Neurocrine Biosciences, Inc. has a twelve month low of $122.14 and a twelve month high of $169.57. The company has a market capitalization of $16.94 billion, a P/E ratio of 25.97, a PEG ratio of 0.67 and a beta of 0.40. The firm has a 50 day simple moving average of $151.99 and a 200-day simple moving average of $141.24.

Analyst Ratings Changes

A number of equities research analysts have commented on NBIX shares. Wall Street Zen upgraded Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 25th. Wedbush boosted their target price on shares of Neurocrine Biosciences from $166.00 to $176.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Weiss Ratings upgraded Neurocrine Biosciences from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday. Guggenheim reaffirmed a “buy” rating and set a $175.00 price target on shares of Neurocrine Biosciences in a research note on Wednesday, May 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $185.00 price objective on shares of Neurocrine Biosciences in a research note on Monday, April 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $187.52.

Insider Activity

In other news, Director Richard F. Pops sold 15,000 shares of the business’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $157.65, for a total value of $2,364,750.00. Following the completion of the sale, the director owned 34,480 shares of the company’s stock, valued at approximately $5,435,772. The trade was a 30.32% decrease in their position. The transaction was disclosed in a document filed 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, Director Kevin Charles Gorman sold 245,088 shares of the company’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $154.33, for a total transaction of $37,824,431.04. Following the completion of the sale, the director owned 511,293 shares in the company, valued at approximately $78,907,848.69. This trade represents a 32.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 355,234 shares of company stock worth $55,330,060 over the last ninety days. Insiders own 4.60% 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.