Aureus Asset Management LLC Purchases New Position in Neurocrine Biosciences, Inc. $NBIX

Aureus Asset Management LLC purchased a new stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the first quarter, according to the company in its most recent filing with the SEC. The fund purchased 9,511 shares of the company’s stock, valued at approximately $1,253,000.

A number of other hedge funds have also added to or reduced their stakes in NBIX. AQR Capital Management LLC raised its stake in shares of Neurocrine Biosciences by 18.0% in the fourth quarter. AQR Capital Management LLC now owns 3,271,706 shares of the company’s stock worth $462,652,000 after purchasing an additional 498,058 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Neurocrine Biosciences by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 2,059,282 shares of the company’s stock valued at $291,342,000 after purchasing an additional 34,457 shares in the last quarter. Los Angeles Capital Management LLC lifted its holdings in shares of Neurocrine Biosciences by 7.4% in the fourth quarter. Los Angeles Capital Management LLC now owns 1,291,278 shares of the company’s stock valued at $178,248,000 after purchasing an additional 88,522 shares in the last quarter. Northern Trust Corp boosted its position in shares of Neurocrine Biosciences by 31.9% during the fourth quarter. Northern Trust Corp now owns 1,221,184 shares of the company’s stock valued at $173,201,000 after buying an additional 295,470 shares during the last quarter. Finally, Deerfield Management Company L.P. boosted its position in shares of Neurocrine Biosciences by 1.4% during the third quarter. Deerfield Management Company L.P. now owns 1,184,345 shares of the company’s stock valued at $166,258,000 after buying an additional 16,543 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. upped their price target on Neurocrine Biosciences from $177.00 to $185.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Sanford C. Bernstein initiated coverage on Neurocrine Biosciences in a research note on Friday, May 22nd. They set an “outperform” rating and a $221.00 price objective on the stock. Guggenheim lifted their price objective on shares of Neurocrine Biosciences from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday. Leerink Partners upped their target price on shares of Neurocrine Biosciences from $160.00 to $170.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 22nd. Finally, HC Wainwright increased their target price on shares of Neurocrine Biosciences from $192.00 to $215.00 and gave the company a “buy” rating in a report on Tuesday, April 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $194.05.

Insiders Place Their Bets

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 245,088 shares of the stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $154.33, for a total transaction of $37,824,431.04. Following the completion of the transaction, the director directly owned 511,293 shares of the company’s stock, valued at approximately $78,907,848.69. This represents a 32.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 firm’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $157.65, for a total value 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 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 have sold 394,172 shares of company stock valued at $62,221,181 in the last quarter. 4.60% of the stock is currently owned by company insiders.

Neurocrine Biosciences Stock Down 3.6%

Neurocrine Biosciences stock opened at $172.69 on Thursday. The firm has a 50 day moving average price of $164.88 and a 200-day moving average price of $144.50. Neurocrine Biosciences, Inc. has a twelve month low of $122.14 and a twelve month high of $181.18. The company has a market capitalization of $17.36 billion, a P/E ratio of 26.61, a P/E/G ratio of 0.71 and a beta of 0.39.

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.