Neurocrine Biosciences, Inc. $NBIX Shares Sold by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S reduced its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 42.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,497 shares of the company’s stock after selling 3,306 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Neurocrine Biosciences were worth $592,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in NBIX. USA Financial Formulas purchased a new stake in shares of Neurocrine Biosciences during the 4th quarter valued at about $25,000. DJE Kapital AG purchased a new position in Neurocrine Biosciences in the 4th quarter worth approximately $28,000. Geneos Wealth Management Inc. boosted its holdings in Neurocrine Biosciences by 143.6% in the 1st 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 period. Meeder Asset Management Inc. grew its position in Neurocrine Biosciences by 651.6% in the fourth quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock valued at $33,000 after acquiring an additional 202 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Neurocrine Biosciences in the fourth quarter valued at approximately $39,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on NBIX shares. HC Wainwright lifted their price objective on shares of Neurocrine Biosciences from $192.00 to $215.00 and gave the company a “buy” rating in a research note on Tuesday, April 7th. Royal Bank Of Canada raised their price target on shares of Neurocrine Biosciences from $180.00 to $183.00 and gave the company an “outperform” rating in a report on Friday, May 29th. Canaccord Genuity Group lifted their price target on shares of Neurocrine Biosciences from $164.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, April 7th. Piper Sandler boosted their price objective on shares of Neurocrine Biosciences from $190.00 to $207.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Finally, Guggenheim reissued a “buy” rating and issued a $175.00 price objective on shares of Neurocrine Biosciences in a research report on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Neurocrine Biosciences presently has a consensus rating of “Moderate Buy” and an average target price of $187.52.

Neurocrine Biosciences Trading Down 1.1%

NBIX stock opened at $164.18 on Friday. Neurocrine Biosciences, Inc. has a twelve month low of $122.14 and a twelve month high of $169.57. The company has a market capitalization of $16.51 billion, a P/E ratio of 25.30, a PEG ratio of 0.66 and a beta of 0.40. The firm has a 50 day simple moving average of $151.25 and a 200-day simple moving average of $141.05.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Julie Cooke sold 36,937 shares of the stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $156.22, for a total transaction of $5,770,298.14. Following the transaction, the insider directly owned 22,374 shares in the company, valued at $3,495,266.28. This represents a 62.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ingrid Delaet sold 2,261 shares of the business’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $156.71, for a total transaction of $354,321.31. Following the completion of the sale, the insider directly owned 16,225 shares of the company’s stock, valued at $2,542,619.75. The trade was a 12.23% 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. Insiders sold a total of 355,234 shares of company stock valued at $55,330,060 over the last ninety days. 4.60% of the stock is currently owned by corporate 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.