Clearbridge Investments LLC Reduces Stock Position in Neurocrine Biosciences, Inc. $NBIX

Clearbridge Investments LLC cut its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 8.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 310,077 shares of the company’s stock after selling 26,859 shares during the quarter. Clearbridge Investments LLC owned approximately 0.31% of Neurocrine Biosciences worth $43,978,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. USA Financial Formulas bought a new stake in shares of Neurocrine Biosciences in the 4th quarter valued at approximately $25,000. Geneos Wealth Management Inc. increased its holdings in shares of Neurocrine Biosciences by 143.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after acquiring an additional 135 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new stake in shares of Neurocrine Biosciences in the 3rd quarter valued at approximately $49,000. Leonteq Securities AG bought a new stake in shares of Neurocrine Biosciences in the 4th quarter valued at approximately $58,000. Finally, Smartleaf Asset Management LLC increased its holdings in shares of Neurocrine Biosciences by 112.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 424 shares of the company’s stock valued at $59,000 after acquiring an additional 224 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Neurocrine Biosciences

In related news, Director Kevin Charles Gorman sold 245,088 shares of the business’s stock in a transaction that occurred 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 owned 511,293 shares in the company, valued at $78,907,848.69. The trade was a 32.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jude Onyia sold 11,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $160.25, for a total value of $1,762,750.00. Following the transaction, the insider owned 25,846 shares of the company’s stock, valued at $4,141,821.50. This represents a 29.85% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 355,234 shares of company stock worth $55,330,060. 4.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Leerink Partners boosted their price target on Neurocrine Biosciences from $160.00 to $170.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. Zacks Research upgraded Neurocrine Biosciences from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 15th. Wells Fargo & Company lowered their price target on Neurocrine Biosciences from $180.00 to $175.00 and set an “overweight” rating for the company in a report on Friday, February 13th. Morgan Stanley boosted their price target on Neurocrine Biosciences from $185.00 to $191.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. Finally, Truist Financial boosted their price target on Neurocrine Biosciences from $140.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Neurocrine Biosciences presently has an average rating of “Moderate Buy” and a consensus target price of $187.52.

Neurocrine Biosciences Price Performance

NASDAQ:NBIX opened at $165.24 on Wednesday. Neurocrine Biosciences, Inc. has a 12-month low of $122.14 and a 12-month high of $169.57. The firm has a market capitalization of $16.61 billion, a P/E ratio of 25.46, a P/E/G ratio of 1.22 and a beta of 0.40. The business has a 50 day simple moving average of $144.09 and a 200 day simple moving average of $140.05.

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.