Andra AP fonden Raises Stock Position in Neurocrine Biosciences, Inc. $NBIX

Andra AP fonden boosted its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 118.2% in the first quarter, HoldingsChannel.com reports. The fund owned 148,191 shares of the company’s stock after purchasing an additional 80,291 shares during the period. Andra AP fonden’s holdings in Neurocrine Biosciences were worth $19,523,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Royal Bank of Canada raised its position in shares of Neurocrine Biosciences by 36.7% during the 1st quarter. Royal Bank of Canada now owns 82,810 shares of the company’s stock worth $9,158,000 after purchasing an additional 22,224 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted 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 worth $1,647,000 after buying an additional 5,577 shares during the last quarter. NewEdge Advisors LLC boosted 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 worth $844,000 after buying an additional 2,747 shares during the last quarter. Empowered Funds LLC purchased a new stake in Neurocrine Biosciences during the 1st quarter worth approximately $1,333,000. Finally, Geneos Wealth Management Inc. increased its stake in Neurocrine Biosciences by 143.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after buying an additional 135 shares in the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on NBIX. Morgan Stanley increased their target price on Neurocrine Biosciences from $185.00 to $191.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. Wedbush lifted their price target on Neurocrine Biosciences from $166.00 to $176.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th. JPMorgan Chase & Co. boosted their price target on Neurocrine Biosciences from $177.00 to $185.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Needham & Company LLC reissued a “buy” rating and issued a $185.00 price objective on shares of Neurocrine Biosciences in a research note on Monday, April 6th. Finally, Leerink Partners raised their price objective on Neurocrine Biosciences from $160.00 to $170.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $192.86.

Neurocrine Biosciences Stock Performance

NASDAQ:NBIX opened at $173.00 on Tuesday. The stock has a 50 day moving average price of $164.19 and a 200 day moving average price of $144.02. The stock has a market cap of $17.40 billion, a PE ratio of 26.66, a P/E/G ratio of 0.68 and a beta of 0.39. Neurocrine Biosciences, Inc. has a one year low of $122.14 and a one year high of $181.18.

Insider Buying and Selling at Neurocrine Biosciences

In other news, insider Jude Onyia sold 11,000 shares of the business’s stock in a transaction dated 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 owned 25,846 shares of the company’s stock, valued at approximately $4,141,821.50. The trade was a 29.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Richard F. Pops sold 15,000 shares of the company’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $157.65, for a total transaction of $2,364,750.00. Following the completion of the sale, the director directly owned 34,480 shares of the company’s stock, valued at $5,435,772. This represents a 30.32% 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. Over the last 90 days, insiders have sold 394,172 shares of company stock worth $62,221,181. Corporate insiders own 4.60% of the company’s stock.

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.