Genus Capital Management Inc. Buys New Shares in Neurocrine Biosciences, Inc. $NBIX

Genus Capital Management Inc. bought a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 26,990 shares of the company’s stock, valued at approximately $3,828,000.

Several other hedge funds have also made changes to their positions in the stock. AlTi Global Inc. lifted its stake in shares of Neurocrine Biosciences by 1.0% in the third quarter. AlTi Global Inc. now owns 6,828 shares of the company’s stock valued at $959,000 after buying an additional 70 shares during the period. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Neurocrine Biosciences by 0.7% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 11,112 shares of the company’s stock valued at $1,560,000 after buying an additional 77 shares during the period. Perigon Wealth Management LLC lifted its stake in shares of Neurocrine Biosciences by 3.1% in the fourth quarter. Perigon Wealth Management LLC now owns 2,590 shares of the company’s stock valued at $367,000 after buying an additional 78 shares during the period. Signaturefd LLC lifted its stake in shares of Neurocrine Biosciences by 4.5% in the fourth quarter. Signaturefd LLC now owns 1,925 shares of the company’s stock valued at $273,000 after buying an additional 83 shares during the period. Finally, Great Lakes Advisors LLC lifted its stake in shares of Neurocrine Biosciences by 2.4% in the third quarter. Great Lakes Advisors LLC now owns 3,605 shares of the company’s stock valued at $506,000 after buying an additional 84 shares during the period. Institutional investors own 92.59% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on NBIX. Wolfe Research began coverage on shares of Neurocrine Biosciences in a research note on Tuesday, February 24th. They issued an “outperform” rating and a $160.00 target price for the company. Wedbush increased their price target on shares of Neurocrine Biosciences from $166.00 to $176.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Royal Bank Of Canada increased their price target on shares of Neurocrine Biosciences from $176.00 to $180.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Canaccord Genuity Group increased their price target 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, JPMorgan Chase & Co. increased their price target on shares of Neurocrine Biosciences from $177.00 to $185.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $185.90.

Neurocrine Biosciences Price Performance

NASDAQ:NBIX opened at $156.70 on Monday. Neurocrine Biosciences, Inc. has a 12-month low of $117.59 and a 12-month high of $162.39. The firm has a market capitalization of $15.76 billion, a PE ratio of 24.14, a price-to-earnings-growth ratio of 1.18 and a beta of 0.34. The firm has a 50-day moving average price of $136.68 and a 200 day moving average price of $138.88.

Insider Buying and Selling

In related news, Director Kevin Charles Gorman sold 245,088 shares of the stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $154.33, for a total value of $37,824,431.04. Following the completion of the transaction, the director owned 511,293 shares of the company’s stock, valued at $78,907,848.69. This represents a 32.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at 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 firm’s stock in a transaction that occurred 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 sale, the director directly owned 34,480 shares of the company’s stock, valued at approximately $5,435,772. The trade was a 30.32% 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 sold 263,898 shares of company stock valued at $40,779,769 over the last quarter. 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.