TD Asset Management Inc Cuts Holdings in Neurocrine Biosciences, Inc. $NBIX

TD Asset Management Inc lowered its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 31.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,073 shares of the company’s stock after selling 32,550 shares during the period. TD Asset Management Inc owned about 0.07% of Neurocrine Biosciences worth $10,080,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. USA Financial Formulas acquired a new stake in Neurocrine Biosciences in the fourth quarter valued at approximately $25,000. Geneos Wealth Management Inc. lifted its stake in Neurocrine Biosciences by 143.6% in the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after acquiring an additional 135 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in Neurocrine Biosciences during the 3rd quarter worth approximately $49,000. Leonteq Securities AG acquired a new position in Neurocrine Biosciences during the 4th quarter worth approximately $58,000. Finally, Smartleaf Asset Management LLC increased its position in shares of Neurocrine Biosciences by 112.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 424 shares of the company’s stock valued at $59,000 after purchasing an additional 224 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on NBIX shares. Wells Fargo & Company decreased their price objective on shares of Neurocrine Biosciences from $180.00 to $175.00 and set an “overweight” rating for the company in a research report on Friday, February 13th. Guggenheim reissued a “buy” rating and issued a $175.00 target price on shares of Neurocrine Biosciences in a report on Wednesday, May 6th. Zacks Research upgraded Neurocrine Biosciences from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 15th. JPMorgan Chase & Co. lifted their price target on Neurocrine Biosciences from $177.00 to $185.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Finally, Citigroup upped their price objective on Neurocrine Biosciences from $242.00 to $246.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $187.52.

Neurocrine Biosciences Price Performance

Shares of NBIX stock opened at $165.24 on Wednesday. The business’s fifty day moving average price is $144.09 and its 200 day moving average price is $140.05. The firm has a market capitalization of $16.61 billion, a PE ratio of 25.46, a P/E/G ratio of 1.22 and a beta of 0.40. Neurocrine Biosciences, Inc. has a 1-year low of $122.14 and a 1-year high of $169.57.

Insider Activity at Neurocrine Biosciences

In related news, insider Julie Cooke sold 36,937 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $156.22, for a total value of $5,770,298.14. Following the completion of the sale, the insider owned 22,374 shares in the company, valued at $3,495,266.28. This trade represents a 62.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephen A. Sherwin sold 25,000 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $165.32, for a total transaction of $4,133,000.00. Following the sale, the director directly owned 15,860 shares in the company, valued at approximately $2,621,975.20. This represents a 61.18% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 355,234 shares of company stock worth $55,330,060. 4.60% of the stock is currently owned by insiders.

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.