Erste Asset Management GmbH Lowers Position in Neurocrine Biosciences, Inc. $NBIX

Erste Asset Management GmbH decreased its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 17.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,700 shares of the company’s stock after selling 4,100 shares during the period. Erste Asset Management GmbH’s holdings in Neurocrine Biosciences were worth $2,830,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Royal Bank of Canada lifted its holdings in Neurocrine Biosciences by 36.7% in the 1st quarter. Royal Bank of Canada now owns 82,810 shares of the company’s stock valued at $9,158,000 after purchasing an additional 22,224 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Neurocrine Biosciences by 60.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,783 shares of the company’s stock valued at $1,647,000 after purchasing an additional 5,577 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in Neurocrine Biosciences by 56.3% in the 1st quarter. NewEdge Advisors LLC now owns 7,630 shares of the company’s stock valued at $844,000 after purchasing an additional 2,747 shares in the last quarter. Empowered Funds LLC purchased a new position in Neurocrine Biosciences in the 1st quarter valued at $1,333,000. Finally, Geneos Wealth Management Inc. lifted 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 valued at $25,000 after purchasing an additional 135 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Stock Up 1.3%

Shares of NBIX opened at $165.24 on Wednesday. Neurocrine Biosciences, Inc. has a 52-week low of $122.14 and a 52-week high of $169.57. The company has a market capitalization of $16.61 billion, a PE ratio of 25.46, a price-to-earnings-growth ratio of 1.22 and a beta of 0.40. The stock has a fifty day simple moving average of $144.09 and a two-hundred day simple moving average of $140.05.

Analyst Ratings Changes

A number of brokerages have weighed in on NBIX. Wells Fargo & Company decreased their price objective on Neurocrine Biosciences from $180.00 to $175.00 and set an “overweight” rating on the stock in a report on Friday, February 13th. Citigroup raised their price objective on Neurocrine Biosciences from $242.00 to $246.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Needham & Company LLC restated a “buy” rating and issued a $185.00 price objective on shares of Neurocrine Biosciences in a report on Monday, April 6th. Sanford C. Bernstein began coverage on Neurocrine Biosciences in a report on Friday, May 22nd. They issued an “outperform” rating and a $221.00 price objective on the stock. Finally, Guggenheim restated a “buy” rating and issued a $175.00 price objective on shares of Neurocrine Biosciences in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Neurocrine Biosciences has an average rating of “Moderate Buy” and an average price target of $187.52.

Insiders Place Their Bets

In other Neurocrine Biosciences news, insider Ingrid Delaet sold 2,261 shares of the firm’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $156.71, for a total value 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. This trade represents a 12.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephen A. Sherwin sold 25,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $165.32, for a total value of $4,133,000.00. Following the sale, the director directly owned 15,860 shares of the company’s stock, valued at $2,621,975.20. The trade was a 61.18% decrease in their ownership of the stock. 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. Over the last ninety days, insiders sold 355,234 shares of company stock worth $55,330,060. 4.60% of the stock is currently owned by company 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.