Allstate Corp Buys 3,786 Shares of Neurocrine Biosciences, Inc. $NBIX

Allstate Corp grew its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 112.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 7,154 shares of the company’s stock after acquiring an additional 3,786 shares during the period. Allstate Corp’s holdings in Neurocrine Biosciences were worth $1,015,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the stock. Fisher Asset Management LLC raised its holdings in Neurocrine Biosciences by 18.4% in the 4th quarter. Fisher Asset Management LLC now owns 112,242 shares of the company’s stock valued at $15,919,000 after acquiring an additional 17,447 shares during the period. Clearstead Advisors LLC boosted its stake in Neurocrine Biosciences by 134.8% in the 4th quarter. Clearstead Advisors LLC now owns 3,085 shares of the company’s stock valued at $438,000 after purchasing an additional 1,771 shares during the period. Genus Capital Management Inc. acquired a new position in Neurocrine Biosciences in the 4th quarter valued at $3,828,000. New Age Alpha Advisors LLC increased its position in Neurocrine Biosciences by 13.4% during the 4th quarter. New Age Alpha Advisors LLC now owns 23,334 shares of the company’s stock worth $3,309,000 after buying an additional 2,754 shares during the period. Finally, Hantz Financial Services Inc. increased its position in Neurocrine Biosciences by 67.3% during the 4th quarter. Hantz Financial Services Inc. now owns 3,354 shares of the company’s stock worth $476,000 after buying an additional 1,349 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Neurocrine Biosciences Stock Up 1.2%

Shares of Neurocrine Biosciences stock opened at $158.30 on Friday. The company has a market capitalization of $15.92 billion, a price-to-earnings ratio of 24.39, a PEG ratio of 1.19 and a beta of 0.34. Neurocrine Biosciences, Inc. has a 12-month low of $121.42 and a 12-month high of $162.39. The firm’s 50-day moving average price is $139.36 and its two-hundred day moving average price is $139.16.

Insider Activity at Neurocrine Biosciences

In related news, Director Kevin Charles Gorman sold 245,088 shares of the stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $154.33, for a total transaction of $37,824,431.04. Following the sale, the director owned 511,293 shares in the company, valued at approximately $78,907,848.69. This trade represents a 32.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jude Onyia sold 11,000 shares of Neurocrine Biosciences stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $155.53, for a total transaction of $1,710,830.00. Following the completion of the transaction, the insider directly owned 25,846 shares in the company, valued at $4,019,828.38. This trade represents a 29.85% 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 a total of 278,786 shares of company stock worth $43,099,615 in the last 90 days. Corporate insiders own 4.60% of the company’s stock.

Analysts Set New Price Targets

NBIX has been the subject of a number of recent research reports. Wolfe Research started coverage on shares of Neurocrine Biosciences in a research report on Tuesday, February 24th. They issued an “outperform” rating and a $160.00 target price for the company. Wells Fargo & Company dropped their price objective on shares of Neurocrine Biosciences from $180.00 to $175.00 and set an “overweight” rating for the company in a research note on Friday, February 13th. Zacks Research upgraded shares of Neurocrine Biosciences from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 15th. Guggenheim reaffirmed a “buy” rating and set a $175.00 target price on shares of Neurocrine Biosciences in a report on Wednesday, May 6th. Finally, Sanford C. Bernstein assumed coverage on shares of Neurocrine Biosciences in a research report on Friday, May 22nd. They issued an “outperform” rating and a $221.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $186.05.

Neurocrine Biosciences Company Profile

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.