Moran Wealth Management LLC Makes New $3.10 Million Investment in Neurocrine Biosciences, Inc. $NBIX

Moran Wealth Management LLC bought a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 23,506 shares of the company’s stock, valued at approximately $3,097,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Huntington National Bank grew its position in Neurocrine Biosciences by 12.6% in the fourth quarter. Huntington National Bank now owns 678 shares of the company’s stock valued at $96,000 after acquiring an additional 76 shares during the last quarter. Perigon Wealth Management LLC lifted its holdings in shares of Neurocrine Biosciences by 3.1% in the fourth quarter. Perigon Wealth Management LLC now owns 2,590 shares of the company’s stock worth $367,000 after acquiring an additional 78 shares during the last quarter. Motley Fool Asset Management LLC lifted its holdings in shares of Neurocrine Biosciences by 4.8% in the fourth quarter. Motley Fool Asset Management LLC now owns 1,693 shares of the company’s stock worth $240,000 after acquiring an additional 78 shares during the last quarter. Main Management ETF Advisors LLC boosted its stake in shares of Neurocrine Biosciences by 1.0% in the 4th quarter. Main Management ETF Advisors LLC now owns 7,830 shares of the company’s stock valued at $1,111,000 after purchasing an additional 80 shares in the last quarter. Finally, Signaturefd LLC boosted its stake in shares of Neurocrine Biosciences by 4.5% in the 4th quarter. Signaturefd LLC now owns 1,925 shares of the company’s stock valued at $273,000 after purchasing an additional 83 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ NBIX opened at $174.26 on Monday. The company’s 50 day moving average price is $155.99 and its 200-day moving average price is $141.73. Neurocrine Biosciences, Inc. has a 52-week low of $122.14 and a 52-week high of $174.38. The company has a market capitalization of $17.52 billion, a P/E ratio of 26.85, a price-to-earnings-growth ratio of 0.69 and a beta of 0.39.

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Darin Lippoldt sold 9,800 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $170.16, for a total value of $1,667,568.00. Following the transaction, the insider directly owned 54,729 shares of the company’s stock, valued at approximately $9,312,686.64. The trade was a 15.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Leslie V. Norwalk sold 1,250 shares of the stock in a transaction that occurred 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 owned 2,838 shares in the company, valued at $476,954.28. The trade was a 30.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 365,234 shares of company stock valued at $57,031,540 over the last ninety days. Insiders own 4.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Wedbush upped their price objective on shares of Neurocrine Biosciences from $166.00 to $176.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. JPMorgan Chase & Co. raised their target price on shares of Neurocrine Biosciences from $177.00 to $185.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $185.00 target price on shares of Neurocrine Biosciences in a research note on Monday, April 6th. Wall Street Zen upgraded shares of Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 25th. Finally, Royal Bank Of Canada increased their price target on Neurocrine Biosciences from $180.00 to $183.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Neurocrine Biosciences 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.