Eurizon Capital SGR S.p.A. Buys New Position in Neurocrine Biosciences, Inc. $NBIX

Eurizon Capital SGR S.p.A. bought a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 9,282 shares of the company’s stock, valued at approximately $1,315,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. USA Financial Formulas purchased a new stake in Neurocrine Biosciences in the fourth quarter valued at approximately $25,000. Geneos Wealth Management Inc. raised 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 valued at $25,000 after purchasing an additional 135 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in Neurocrine Biosciences in the third quarter valued at approximately $49,000. Leonteq Securities AG purchased a new stake in Neurocrine Biosciences in the fourth quarter valued at approximately $58,000. Finally, Smartleaf Asset Management LLC raised its stake in Neurocrine Biosciences by 112.0% in the third quarter. Smartleaf Asset Management LLC now owns 424 shares of the company’s stock valued at $59,000 after purchasing an additional 224 shares in the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

Neurocrine Biosciences Stock Performance

NBIX stock opened at $154.84 on Wednesday. The company has a market capitalization of $15.57 billion, a PE ratio of 23.86, a price-to-earnings-growth ratio of 1.21 and a beta of 0.40. Neurocrine Biosciences, Inc. has a one year low of $122.14 and a one year high of $162.39. The company’s 50 day moving average price is $139.98 and its two-hundred day moving average price is $139.18.

Insider Activity

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 245,088 shares of Neurocrine Biosciences stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $154.33, for a total transaction of $37,824,431.04. Following the transaction, the director directly owned 511,293 shares of the company’s stock, valued at approximately $78,907,848.69. This trade represents a 32.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jude Onyia sold 11,000 shares of Neurocrine Biosciences stock in a transaction on Monday, June 1st. The stock was sold at an average price of $160.25, for a total transaction of $1,762,750.00. Following the completion of the transaction, the insider directly owned 25,846 shares in the company, valued at approximately $4,141,821.50. The trade was a 29.85% 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. In the last three months, insiders sold 292,047 shares of company stock valued at $45,216,687. Insiders own 4.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages 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 on the stock. Wall Street Zen raised shares of Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 25th. Guggenheim reissued a “buy” rating and set a $175.00 price target on shares of Neurocrine Biosciences in a research note on Wednesday, May 6th. Wedbush lifted their price target on shares of Neurocrine Biosciences from $166.00 to $176.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th. Finally, Piper Sandler lifted their price target on shares of Neurocrine Biosciences from $190.00 to $207.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $187.52.

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.