Rhenman & Partners Asset Management AB Grows Stock Position in Neurocrine Biosciences, Inc. $NBIX

Rhenman & Partners Asset Management AB boosted its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 9.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 125,491 shares of the company’s stock after buying an additional 10,774 shares during the quarter. Neurocrine Biosciences makes up approximately 1.7% of Rhenman & Partners Asset Management AB’s investment portfolio, making the stock its 21st biggest holding. Rhenman & Partners Asset Management AB’s holdings in Neurocrine Biosciences were worth $17,798,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. USA Financial Formulas purchased a new stake in Neurocrine Biosciences during the 4th quarter valued at $25,000. DJE Kapital AG purchased a new stake in Neurocrine Biosciences during the 4th quarter valued at $28,000. Geneos Wealth Management Inc. raised its holdings in Neurocrine Biosciences by 143.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after buying an additional 135 shares during the period. Meeder Asset Management Inc. raised its holdings in Neurocrine Biosciences by 651.6% during the 4th quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock valued at $33,000 after buying an additional 202 shares during the period. Finally, Aster Capital Management DIFC Ltd purchased a new stake in Neurocrine Biosciences during the 3rd quarter valued at $49,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NBIX. Morgan Stanley increased their price target on Neurocrine Biosciences from $185.00 to $191.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. Weiss Ratings upgraded Neurocrine Biosciences from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, June 3rd. The Goldman Sachs Group began coverage on Neurocrine Biosciences in a report on Tuesday, June 2nd. They set a “buy” rating and a $213.00 price target on the stock. Wolfe Research began coverage on Neurocrine Biosciences in a report on Tuesday, February 24th. They set an “outperform” rating and a $160.00 price target on the stock. Finally, Piper Sandler increased their price target on Neurocrine Biosciences from $190.00 to $207.00 and gave the company an “overweight” rating in a 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 given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $187.52.

Neurocrine Biosciences Stock Down 1.8%

Shares of Neurocrine Biosciences stock opened at $159.76 on Friday. The stock’s fifty day moving average is $145.89 and its two-hundred day moving average is $140.48. The company has a market capitalization of $16.06 billion, a PE ratio of 24.62, a price-to-earnings-growth ratio of 1.22 and a beta of 0.40. Neurocrine Biosciences, Inc. has a 52 week low of $122.14 and a 52 week high of $169.57.

Insider Buying and Selling

In other Neurocrine Biosciences news, Director Richard F. Pops sold 15,000 shares of the company’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $157.65, for a total value of $2,364,750.00. Following the transaction, the director owned 34,480 shares of the company’s stock, valued at $5,435,772. This represents a 30.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephen A. Sherwin sold 25,000 shares of the company’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $165.32, for a total value of $4,133,000.00. Following the completion of the transaction, the director directly owned 15,860 shares in the company, valued at $2,621,975.20. This trade represents a 61.18% decrease in their position. 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. Insiders have sold a total of 355,234 shares of company stock worth $55,330,060 over the last ninety days. Corporate insiders own 4.60% of the company’s stock.

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.