Kennedy Capital Management LLC Cuts Stake in Neurocrine Biosciences, Inc. $NBIX

Kennedy Capital Management LLC lowered its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 16.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 47,051 shares of the company’s stock after selling 9,218 shares during the period. Kennedy Capital Management LLC’s holdings in Neurocrine Biosciences were worth $6,673,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. USA Financial Formulas purchased a new position in Neurocrine Biosciences in the fourth quarter valued at about $25,000. DJE Kapital AG purchased a new position in Neurocrine Biosciences in the fourth quarter valued at about $28,000. Geneos Wealth Management Inc. grew 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 during the last quarter. Meeder Asset Management Inc. grew its stake in Neurocrine Biosciences by 651.6% in the fourth quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock valued at $33,000 after purchasing an additional 202 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Neurocrine Biosciences in the fourth quarter valued at about $39,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ NBIX opened at $159.51 on Tuesday. The company has a market cap of $16.04 billion, a PE ratio of 24.58, a P/E/G ratio of 1.20 and a beta of 0.39. The business has a 50-day simple moving average of $146.45 and a two-hundred day simple moving average of $140.59. Neurocrine Biosciences, Inc. has a fifty-two week low of $122.14 and a fifty-two week high of $169.57.

Insiders Place Their Bets

In related news, Director Leslie V. Norwalk sold 1,250 shares of the company’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $168.06, for a total value of $210,075.00. Following the transaction, the director directly owned 2,838 shares of the company’s stock, valued at $476,954.28. This represents a 30.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ingrid Delaet sold 2,261 shares of the company’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $156.71, for a total value of $354,321.31. Following the completion of the transaction, the insider directly owned 16,225 shares in the company, valued at approximately $2,542,619.75. The trade was a 12.23% 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. In the last 90 days, insiders have sold 355,234 shares of company stock valued at $55,330,060. 4.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on NBIX shares. Wedbush lifted their target price on Neurocrine Biosciences from $166.00 to $176.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Needham & Company LLC reiterated a “buy” rating and issued a $185.00 target price on shares of Neurocrine Biosciences in a research note on Monday, April 6th. Citigroup lifted their target price on Neurocrine Biosciences from $242.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Piper Sandler lifted their target price on Neurocrine Biosciences from $190.00 to $207.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Finally, Guggenheim reiterated a “buy” rating and issued a $175.00 target price on shares of Neurocrine Biosciences in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.