Brown Advisory Inc. Decreases Holdings in Neurocrine Biosciences, Inc. $NBIX

Brown Advisory Inc. trimmed its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 51.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 225,288 shares of the company’s stock after selling 243,259 shares during the quarter. Brown Advisory Inc. owned 0.22% of Neurocrine Biosciences worth $31,953,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Nilsine Partners LLC bought a new position in Neurocrine Biosciences during the 4th quarter valued at about $1,197,000. Ruffer LLP bought a new position in Neurocrine Biosciences during the 4th quarter valued at about $2,479,000. Korea Investment CORP grew its holdings in Neurocrine Biosciences by 94.3% during the 3rd quarter. Korea Investment CORP now owns 71,689 shares of the company’s stock valued at $10,064,000 after purchasing an additional 34,800 shares during the last quarter. Nordea Investment Management AB grew its holdings in Neurocrine Biosciences by 81.3% during the 4th quarter. Nordea Investment Management AB now owns 27,202 shares of the company’s stock valued at $3,834,000 after purchasing an additional 12,195 shares during the last quarter. Finally, CIBC Private Wealth Group LLC grew its holdings in Neurocrine Biosciences by 17,250.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 7,981 shares of the company’s stock valued at $1,120,000 after purchasing an additional 7,935 shares during the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Neurocrine Biosciences Stock Performance

NASDAQ NBIX opened at $159.51 on Tuesday. The firm’s 50 day moving average price is $146.45 and its 200-day moving average price is $140.59. Neurocrine Biosciences, Inc. has a 52-week low of $122.14 and a 52-week high of $169.57. The company has a market cap of $16.04 billion, a PE ratio of 24.58, a P/E/G ratio of 1.20 and a beta of 0.39.

Insider Activity

In other news, insider Jude Onyia sold 11,000 shares of the stock in a transaction that occurred on 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 directly owned 25,846 shares in the company, valued at approximately $4,141,821.50. This trade represents a 29.85% decrease in their ownership of the stock. The transaction 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, insider Julie Cooke sold 36,937 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $156.22, for a total transaction of $5,770,298.14. Following the transaction, the insider owned 22,374 shares in the company, valued at approximately $3,495,266.28. This represents a 62.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 355,234 shares of company stock valued at $55,330,060. 4.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Citigroup upped their price target on shares of Neurocrine Biosciences from $242.00 to $246.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. The Goldman Sachs Group initiated coverage on shares of Neurocrine Biosciences in a research note on Tuesday, June 2nd. They issued a “buy” rating and a $213.00 target price on the stock. Needham & Company LLC restated a “buy” rating and issued a $185.00 target price on shares of Neurocrine Biosciences in a research note on Monday, April 6th. Wolfe Research initiated coverage on shares of Neurocrine Biosciences in a research note on Tuesday, February 24th. They issued an “outperform” rating and a $160.00 target price on the stock. Finally, Sanford C. Bernstein initiated coverage on shares of Neurocrine Biosciences in a research note on Friday, May 22nd. They issued an “outperform” rating and a $221.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Neurocrine Biosciences presently has a consensus rating of “Moderate Buy” and an average price target of $187.52.

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.