Private Client Services LLC Reduces Stock Holdings in Neurocrine Biosciences, Inc. $NBIX

Private Client Services LLC reduced its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 74.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,156 shares of the company’s stock after selling 9,310 shares during the period. Private Client Services LLC’s holdings in Neurocrine Biosciences were worth $532,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. DJE Kapital AG acquired a new stake in Neurocrine Biosciences in the fourth quarter worth about $28,000. Geneos Wealth Management Inc. raised its position in shares of Neurocrine Biosciences by 143.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after purchasing an additional 135 shares during the last quarter. Meeder Asset Management Inc. boosted its stake in Neurocrine Biosciences by 651.6% in the 4th quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock worth $33,000 after purchasing an additional 202 shares in the last quarter. Basecamp Wealth Advisors LLC boosted its stake in Neurocrine Biosciences by 582.9% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company’s stock worth $31,000 after purchasing an additional 204 shares in the last quarter. Finally, Cassaday & Co Wealth Management LLC purchased a new stake in Neurocrine Biosciences during the 1st quarter worth approximately $33,000. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Neurocrine Biosciences news, insider Ingrid Delaet sold 4,367 shares of the company’s stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $181.02, for a total value of $790,514.34. Following the sale, the insider owned 16,225 shares in the company, valued at approximately $2,937,049.50. This represents a 21.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Leslie V. Norwalk sold 1,250 shares of Neurocrine Biosciences stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $182.01, for a total transaction of $227,512.50. Following the transaction, the director directly owned 1,588 shares of the company’s stock, valued at approximately $289,031.88. This trade represents a 44.05% decrease in their ownership of the stock. 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. In the last quarter, insiders have sold 395,422 shares of company stock worth $62,448,693. 4.60% of the stock is currently owned by company insiders.

Neurocrine Biosciences Stock Down 0.3%

Shares of NBIX stock opened at $166.23 on Tuesday. Neurocrine Biosciences, Inc. has a 52-week low of $122.14 and a 52-week high of $186.12. The stock has a market cap of $16.71 billion, a PE ratio of 24.37, a price-to-earnings-growth ratio of 0.70 and a beta of 0.39. The business has a 50-day simple moving average of $168.00 and a 200-day simple moving average of $146.73.

Neurocrine Biosciences News Summary

Here are the key news stories impacting Neurocrine Biosciences this week:

• Positive Sentiment: Canaccord Genuity raised its price target from $200 to $210 and upgraded or reaffirmed its rating at “buy,” implying approximately 26% upside. Benzinga analyst price-target report
• Positive Sentiment: Truist Financial increased its target from $200 to $213 and assigned a “buy” rating, representing roughly 28% potential upside. Benzinga analyst price-target report
• Positive Sentiment: Wedbush raised its target from $185 to $194 and maintained an “outperform” rating, indicating about 17% upside. Benzinga analyst price-target report
• Positive Sentiment: Additional analysts also lifted their targets to $198, $196, $215, $210, $220, $249 and $222, reinforcing the positive trend in sell-side expectations. Neurocrine Biosciences price target raised to $198 Neurocrine Biosciences price target raised to $196 Neurocrine Biosciences price target raised to $215 Neurocrine Biosciences price target raised to $220 Neurocrine Biosciences price target raised to $249 Neurocrine Biosciences price target raised to $222

Wall Street Analyst Weigh In

NBIX has been the subject of a number of research analyst reports. Wedbush raised their price target on shares of Neurocrine Biosciences from $185.00 to $194.00 and gave the stock an “outperform” rating in a report on Monday. Wells Fargo & Company boosted their price objective on shares of Neurocrine Biosciences from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, July 17th. Citigroup upped their target price on Neurocrine Biosciences from $246.00 to $249.00 and gave the company a “buy” rating in a research report on Friday. JPMorgan Chase & Co. raised their target price on Neurocrine Biosciences from $177.00 to $185.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Finally, Cantor Fitzgerald lifted their price target on Neurocrine Biosciences from $210.00 to $215.00 and gave the stock an “overweight” rating in a research report on Friday. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Neurocrine Biosciences currently has an average rating of “Moderate Buy” and a consensus price target of $201.50.

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.