SG Americas Securities LLC Sells 75,263 Shares of Neurocrine Biosciences, Inc. $NBIX

SG Americas Securities LLC reduced its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 55.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,267 shares of the company’s stock after selling 75,263 shares during the period. SG Americas Securities LLC’s holdings in Neurocrine Biosciences were worth $7,808,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. AQR Capital Management LLC grew 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 worth $388,435,000 after acquiring an additional 1,263,633 shares during the last quarter. Norges Bank purchased a new position in shares of Neurocrine Biosciences in the 4th quarter worth about $162,664,000. UBS Group AG boosted its stake in Neurocrine Biosciences by 169.8% in the 4th quarter. UBS Group AG now owns 983,528 shares of the company’s stock worth $139,494,000 after purchasing an additional 618,956 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new position in Neurocrine Biosciences in the 4th quarter worth about $65,162,000. Finally, Two Sigma Investments LP purchased a new position in Neurocrine Biosciences in the third quarter worth about $48,791,000. Institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Trading Up 2.6%

Shares of NBIX stock opened at $168.52 on Friday. Neurocrine Biosciences, Inc. has a 12-month low of $122.14 and a 12-month high of $169.57. The stock has a market capitalization of $16.94 billion, a P/E ratio of 25.97, a P/E/G ratio of 0.67 and a beta of 0.40. The firm’s 50 day moving average is $151.99 and its 200 day moving average is $141.24.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Ingrid Delaet sold 2,261 shares of the stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $156.71, for a total value of $354,321.31. Following the transaction, the insider owned 16,225 shares of the company’s stock, valued at approximately $2,542,619.75. This represents a 12.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jude Onyia sold 11,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $160.25, for a total value of $1,762,750.00. Following the completion of the transaction, the insider directly owned 25,846 shares in the company, valued at $4,141,821.50. The trade was a 29.85% 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 have sold 355,234 shares of company stock valued at $55,330,060 in the last 90 days. 4.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on NBIX shares. Needham & Company LLC reiterated a “buy” rating and issued a $185.00 target price on shares of Neurocrine Biosciences in a research note on Monday, April 6th. Weiss Ratings upgraded shares of Neurocrine Biosciences from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday. HC Wainwright upped their price objective on Neurocrine Biosciences from $192.00 to $215.00 and gave the company a “buy” rating in a research report on Tuesday, April 7th. The Goldman Sachs Group assumed coverage on Neurocrine Biosciences in a research note on Tuesday, June 2nd. They set a “buy” rating and a $213.00 target price on the stock. Finally, Leerink Partners lifted their target price on Neurocrine Biosciences from $160.00 to $170.00 and gave the stock an “outperform” rating in a report on Wednesday, April 22nd. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus 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.