KBC Group NV Sells 15,390 Shares of Neurocrine Biosciences, Inc. $NBIX

KBC Group NV trimmed its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 47.5% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 17,011 shares of the company’s stock after selling 15,390 shares during the quarter. KBC Group NV’s holdings in Neurocrine Biosciences were worth $2,241,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. AQR Capital Management LLC lifted its holdings in Neurocrine Biosciences by 83.7% during the third quarter. AQR Capital Management LLC now owns 2,773,648 shares of the company’s stock worth $388,435,000 after buying an additional 1,263,633 shares during the period. Norges Bank purchased a new position in shares of Neurocrine Biosciences in the 4th quarter valued at $162,664,000. UBS Group AG raised its position in shares of 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 acquiring an additional 618,956 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new position in shares of Neurocrine Biosciences in the 4th quarter worth $65,162,000. Finally, Two Sigma Investments LP purchased a new stake in shares of Neurocrine Biosciences during the 3rd quarter worth $48,791,000. Institutional investors own 92.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on NBIX shares. Leerink Partners lifted their target price on Neurocrine Biosciences from $160.00 to $170.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. Royal Bank Of Canada increased their price target on shares of Neurocrine Biosciences from $183.00 to $195.00 and gave the company an “outperform” rating in a research report on Tuesday, July 7th. Piper Sandler raised their price target on shares of Neurocrine Biosciences from $190.00 to $207.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Sanford C. Bernstein initiated coverage on shares of Neurocrine Biosciences in a research report on Friday, May 22nd. They issued an “outperform” rating and a $221.00 price objective on the stock. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Neurocrine Biosciences from $177.00 to $185.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $194.05.

Insider Buying and Selling

In other Neurocrine Biosciences news, Director Stephen A. Sherwin sold 25,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $165.32, for a total value of $4,133,000.00. Following the completion of the sale, the director owned 15,860 shares of the company’s stock, valued at approximately $2,621,975.20. This trade represents a 61.18% decrease in their ownership of the stock. The sale 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 Darin Lippoldt sold 10,000 shares of the business’s stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $179.60, for a total value of $1,796,000.00. Following the sale, the insider owned 54,729 shares in the company, valued at $9,829,328.40. The trade was a 15.45% decrease in their position. 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 a total of 394,172 shares of company stock valued at $62,221,181 in the last 90 days. 4.60% of the stock is owned by insiders.

Neurocrine Biosciences Price Performance

Shares of NBIX stock opened at $175.77 on Friday. Neurocrine Biosciences, Inc. has a 1-year low of $122.14 and a 1-year high of $181.18. The stock’s fifty day moving average price is $165.53 and its 200 day moving average price is $144.95. The company has a market cap of $17.67 billion, a price-to-earnings ratio of 27.08, a price-to-earnings-growth ratio of 0.69 and a beta of 0.39.

About Neurocrine Biosciences

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.