Arrowpoint Investment Partners Singapore Pte. Ltd. Buys Shares of 3,517 Neurocrine Biosciences, Inc. $NBIX

Arrowpoint Investment Partners Singapore Pte. Ltd. bought a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the fourth quarter, HoldingsChannel.com reports. The fund bought 3,517 shares of the company’s stock, valued at approximately $499,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Prudential PLC lifted its holdings in Neurocrine Biosciences by 2.4% in the 4th quarter. Prudential PLC now owns 4,134 shares of the company’s stock valued at $586,000 after purchasing an additional 98 shares in the last quarter. Vise Technologies Inc. purchased a new position in Neurocrine Biosciences in the 4th quarter valued at about $200,000. Continuum Advisory LLC lifted its holdings in Neurocrine Biosciences by 6.4% in the 4th quarter. Continuum Advisory LLC now owns 42,551 shares of the company’s stock valued at $6,035,000 after purchasing an additional 2,548 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in Neurocrine Biosciences by 93.6% in the 4th quarter. Daiwa Securities Group Inc. now owns 16,917 shares of the company’s stock valued at $2,399,000 after purchasing an additional 8,179 shares in the last quarter. Finally, Lido Advisors LLC purchased a new position in Neurocrine Biosciences in the 4th quarter valued at about $260,000. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NBIX. Royal Bank Of Canada raised their target price on shares of Neurocrine Biosciences from $180.00 to $183.00 and gave the stock an “outperform” rating in a research report on Friday, May 29th. Truist Financial increased their price target on shares of Neurocrine Biosciences from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Piper Sandler lifted their price target on shares of Neurocrine Biosciences from $190.00 to $207.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. The Goldman Sachs Group began coverage on shares of Neurocrine Biosciences in a research note on Tuesday. They set a “buy” rating and a $213.00 price objective for the company. Finally, Sanford C. Bernstein started coverage on Neurocrine Biosciences in a report on Friday, May 22nd. They set an “outperform” rating and a $221.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $187.52.

Neurocrine Biosciences Stock Performance

NASDAQ NBIX opened at $167.35 on Friday. The firm has a market capitalization of $16.83 billion, a price-to-earnings ratio of 25.79, a PEG ratio of 1.24 and a beta of 0.40. Neurocrine Biosciences, Inc. has a one year low of $122.14 and a one year high of $169.57. The company’s 50 day moving average price is $142.08 and its 200 day moving average price is $139.54.

Insider Activity

In other Neurocrine Biosciences news, insider Julie Cooke sold 36,937 shares of Neurocrine Biosciences stock in a transaction that occurred 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 of the company’s stock, valued at $3,495,266.28. The trade was a 62.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible 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 that occurred on Monday, June 1st. The shares were sold at an average price of $160.25, for a total transaction of $1,762,750.00. Following the transaction, the insider directly owned 25,846 shares in the company, valued at approximately $4,141,821.50. This trade represents 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. Insiders sold a total of 328,984 shares of company stock valued at $50,986,985 over the last quarter. 4.60% of the stock is owned by insiders.

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.