Bank of New York Mellon Corp Has $104.77 Million Stake in Neurocrine Biosciences, Inc. $NBIX

Bank of New York Mellon Corp reduced its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 3.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 738,676 shares of the company’s stock after selling 22,720 shares during the quarter. Bank of New York Mellon Corp’s holdings in Neurocrine Biosciences were worth $104,766,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Royal Bank of Canada increased its stake in shares of Neurocrine Biosciences by 36.7% in the first 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 period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position 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 purchasing an additional 5,577 shares during the last quarter. NewEdge Advisors LLC increased its holdings in shares of Neurocrine Biosciences by 56.3% during the 1st quarter. NewEdge Advisors LLC now owns 7,630 shares of the company’s stock worth $844,000 after purchasing an additional 2,747 shares during the period. Empowered Funds LLC bought a new position in shares of Neurocrine Biosciences during the 1st quarter worth about $1,333,000. Finally, Geneos Wealth Management Inc. raised its position in shares of Neurocrine Biosciences by 143.6% during the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after buying an additional 135 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Insider Activity

In other Neurocrine Biosciences news, insider Ingrid Delaet sold 2,261 shares of Neurocrine Biosciences stock in a transaction on Friday, May 29th. The stock was sold at an average price of $156.71, for a total value of $354,321.31. Following the completion of the transaction, the insider owned 16,225 shares in the company, valued at approximately $2,542,619.75. The trade was a 12.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Julie Cooke sold 36,937 shares of the business’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $156.22, for a total value of $5,770,298.14. Following the completion of the transaction, the insider directly owned 22,374 shares in the company, valued at approximately $3,495,266.28. This represents a 62.28% 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 three months, insiders sold 328,984 shares of company stock worth $50,986,985. 4.60% of the stock is currently owned by insiders.

Neurocrine Biosciences Stock Performance

NASDAQ:NBIX opened at $163.88 on Monday. Neurocrine Biosciences, Inc. has a 1 year low of $122.14 and a 1 year high of $169.57. The firm has a 50 day moving average of $142.73 and a 200-day moving average of $139.68. The stock has a market capitalization of $16.48 billion, a P/E ratio of 25.25, a price-to-earnings-growth ratio of 1.23 and a beta of 0.39.

Wall Street Analysts Forecast Growth

NBIX has been the subject of several research reports. JPMorgan Chase & Co. increased their target price on shares of Neurocrine Biosciences from $177.00 to $185.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Wedbush upped 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. Citigroup lifted their price target on shares of Neurocrine Biosciences from $242.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Wall Street Zen raised shares of Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 25th. Finally, BMO Capital Markets dropped their price objective on shares of Neurocrine Biosciences from $147.00 to $140.00 and set a “market perform” rating for the company in a research note on Thursday, February 12th. One investment 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $187.52.

Neurocrine Biosciences 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.