PSP Research LLC Purchases Shares of 3,734 Neurocrine Biosciences, Inc. $NBIX

PSP Research LLC purchased a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 3,734 shares of the company’s stock, valued at approximately $530,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Banque Cantonale Vaudoise bought a new position in Neurocrine Biosciences in the fourth quarter valued at approximately $89,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in Neurocrine Biosciences in the fourth quarter valued at approximately $1,866,000. PNC Financial Services Group Inc. lifted its stake in Neurocrine Biosciences by 5.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,016 shares of the company’s stock valued at $711,000 after buying an additional 248 shares in the last quarter. Tredje AP fonden raised its holdings in shares of Neurocrine Biosciences by 626.8% in the fourth quarter. Tredje AP fonden now owns 84,503 shares of the company’s stock valued at $11,985,000 after purchasing an additional 72,876 shares during the last quarter. Finally, PKO BP BANKOWY Universal Pension Society JSC bought a new stake in shares of Neurocrine Biosciences in the fourth quarter worth $19,686,000. Institutional investors own 92.59% of the company’s stock.

Insiders Place Their Bets

In related news, Director Leslie V. Norwalk sold 3,810 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $155.01, for a total transaction of $590,588.10. Following the transaction, the director directly owned 2,429 shares in the company, valued at approximately $376,519.29. The trade was a 61.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Richard F. Pops sold 15,000 shares of the business’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $157.65, for a total transaction of $2,364,750.00. Following the transaction, the director owned 34,480 shares in the company, valued at approximately $5,435,772. The trade was a 30.32% 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. 4.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Truist Financial boosted their price objective on shares of Neurocrine Biosciences from $140.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Wall Street Zen raised shares of Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 25th. Zacks Research raised shares of Neurocrine Biosciences from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 15th. Canaccord Genuity Group boosted their price objective on shares of Neurocrine Biosciences from $164.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, April 7th. Finally, BMO Capital Markets cut their price objective on shares of Neurocrine Biosciences from $147.00 to $140.00 and set a “market perform” rating on the stock in a research report on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $184.15.

Neurocrine Biosciences Trading Down 1.8%

Shares of NBIX opened at $154.36 on Wednesday. The company has a market cap of $15.52 billion, a price-to-earnings ratio of 23.78, a PEG ratio of 1.18 and a beta of 0.34. Neurocrine Biosciences, Inc. has a 1-year low of $117.59 and a 1-year high of $162.39. The company’s fifty day simple moving average is $135.12 and its 200 day simple moving average is $138.57.

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.