Geode Capital Management LLC Has $291.34 Million Stock Position in Neurocrine Biosciences, Inc. $NBIX

Geode Capital Management LLC increased its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 1.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,059,282 shares of the company’s stock after purchasing an additional 34,457 shares during the quarter. Geode Capital Management LLC owned approximately 2.07% of Neurocrine Biosciences worth $291,342,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. USA Financial Formulas acquired a new stake in Neurocrine Biosciences in the fourth quarter worth about $25,000. Geneos Wealth Management Inc. boosted its holdings in Neurocrine Biosciences by 143.6% during the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after buying an additional 135 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new position in Neurocrine Biosciences during the third quarter worth about $49,000. Leonteq Securities AG bought a new position in Neurocrine Biosciences during the fourth quarter worth about $58,000. Finally, Smartleaf Asset Management LLC boosted its holdings in Neurocrine Biosciences by 112.0% during the third quarter. Smartleaf Asset Management LLC now owns 424 shares of the company’s stock worth $59,000 after buying an additional 224 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Neurocrine Biosciences Price Performance

NASDAQ:NBIX opened at $161.00 on Tuesday. Neurocrine Biosciences, Inc. has a fifty-two week low of $121.83 and a fifty-two week high of $162.39. The stock has a market capitalization of $16.19 billion, a PE ratio of 24.81, a price-to-earnings-growth ratio of 1.19 and a beta of 0.39. The business’s 50-day simple moving average is $139.98 and its 200-day simple moving average is $139.18.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Citigroup raised their target price on Neurocrine Biosciences from $242.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Morgan Stanley raised their target price on Neurocrine Biosciences from $185.00 to $191.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Weiss Ratings restated a “hold (c+)” rating on shares of Neurocrine Biosciences in a report on Tuesday, April 21st. Canaccord Genuity Group raised their target price on Neurocrine Biosciences from $164.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, April 7th. Finally, Truist Financial raised their target price on Neurocrine Biosciences from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $186.05.

Insiders Place Their Bets

In other Neurocrine Biosciences news, Director Leslie V. Norwalk sold 3,810 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $155.01, for a total transaction of $590,588.10. Following the transaction, the director owned 2,429 shares of the company’s stock, valued at $376,519.29. The trade was a 61.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kevin Charles Gorman sold 245,088 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $154.33, for a total value of $37,824,431.04. Following the transaction, the director directly owned 511,293 shares in the company, valued at $78,907,848.69. This trade represents a 32.40% 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 278,786 shares of company stock worth $43,099,615 in the last 90 days. Company insiders own 4.60% of the company’s stock.

Neurocrine Biosciences Profile

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.