Neurocrine Biosciences, Inc. $NBIX Shares Sold by Kennedy Capital Management LLC

Kennedy Capital Management LLC decreased its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 16.4% in the fourth quarter, HoldingsChannel reports. The firm owned 47,051 shares of the company’s stock after selling 9,218 shares during the quarter. Kennedy Capital Management LLC’s holdings in Neurocrine Biosciences were worth $6,673,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of NBIX. AQR Capital Management LLC lifted its holdings in shares of 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 purchasing an additional 1,263,633 shares during the period. Norges Bank acquired a new stake in shares of Neurocrine Biosciences during the fourth quarter worth about $162,664,000. UBS Group AG lifted its holdings in shares of Neurocrine Biosciences by 169.8% during the fourth quarter. UBS Group AG now owns 983,528 shares of the company’s stock worth $139,494,000 after purchasing an additional 618,956 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Neurocrine Biosciences by 11.0% during the third quarter. JPMorgan Chase & Co. now owns 4,730,152 shares of the company’s stock worth $664,019,000 after purchasing an additional 468,405 shares during the period. Finally, Two Sigma Investments LP acquired a new stake in shares of Neurocrine Biosciences during the third quarter worth about $48,791,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

Neurocrine Biosciences Price Performance

Neurocrine Biosciences stock opened at $159.51 on Tuesday. Neurocrine Biosciences, Inc. has a 12 month low of $122.14 and a 12 month high of $169.57. The stock has a market capitalization of $16.04 billion, a PE ratio of 24.58, a price-to-earnings-growth ratio of 1.20 and a beta of 0.39. The business has a 50 day simple moving average of $146.45 and a 200-day simple moving average of $140.59.

Analysts Set New Price Targets

A number of research firms recently commented on NBIX. Weiss Ratings raised Neurocrine Biosciences from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, June 3rd. Wall Street Zen upgraded Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 25th. Canaccord Genuity Group lifted their price target on Neurocrine Biosciences from $164.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, April 7th. Leerink Partners lifted their price target on Neurocrine Biosciences from $160.00 to $170.00 and gave the company an “outperform” rating in a research report on Wednesday, April 22nd. Finally, JPMorgan Chase & Co. lifted their price target on Neurocrine Biosciences from $177.00 to $185.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. One equities research 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $187.52.

Insider Activity

In related news, Director Stephen A. Sherwin sold 25,000 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the director directly owned 15,860 shares in the company, valued at approximately $2,621,975.20. The trade was a 61.18% decrease in their ownership of the stock. The sale was disclosed in a document filed 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, Director Leslie V. Norwalk sold 1,250 shares of the company’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $168.06, for a total value of $210,075.00. Following the completion of the sale, the director owned 2,838 shares of the company’s stock, valued at approximately $476,954.28. The trade was a 30.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 355,234 shares of company stock valued at $55,330,060 in the last three months. Company 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.