Boone Capital Management LLC Sells 14,599 Shares of Neurocrine Biosciences, Inc. $NBIX

Boone Capital Management LLC trimmed its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 8.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 151,815 shares of the company’s stock after selling 14,599 shares during the quarter. Neurocrine Biosciences makes up 7.2% of Boone Capital Management LLC’s investment portfolio, making the stock its 6th largest position. Boone Capital Management LLC owned approximately 0.15% of Neurocrine Biosciences worth $21,532,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Armistice Capital LLC raised its holdings in shares of Neurocrine Biosciences by 17.7% in the 4th quarter. Armistice Capital LLC now owns 820,240 shares of the company’s stock valued at $116,335,000 after purchasing an additional 123,218 shares in the last quarter. Freestone Grove Partners LP raised its holdings in shares of Neurocrine Biosciences by 6.2% in the 4th quarter. Freestone Grove Partners LP now owns 140,529 shares of the company’s stock valued at $19,931,000 after purchasing an additional 8,191 shares in the last quarter. Guggenheim Capital LLC raised its holdings in shares of Neurocrine Biosciences by 7.9% in the 4th quarter. Guggenheim Capital LLC now owns 24,043 shares of the company’s stock valued at $3,410,000 after purchasing an additional 1,755 shares in the last quarter. Caisse de depot et placement du Quebec acquired a new stake in Neurocrine Biosciences during the 4th quarter worth $8,923,000. Finally, Schonfeld Strategic Advisors LLC raised its stake in Neurocrine Biosciences by 15.8% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 89,972 shares of the company’s stock worth $12,761,000 after acquiring an additional 12,279 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Neurocrine Biosciences Stock Performance

NASDAQ NBIX opened at $159.00 on Thursday. The firm has a market cap of $15.99 billion, a PE ratio of 24.50, a P/E/G ratio of 1.17 and a beta of 0.40. Neurocrine Biosciences, Inc. has a one year low of $122.14 and a one year high of $169.57. The firm’s fifty day moving average is $147.48 and its two-hundred day moving average is $140.68.

Analysts Set New Price Targets

NBIX has been the topic of several research analyst reports. Wall Street Zen upgraded shares of Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 25th. Needham & Company LLC reiterated a “buy” rating and set a $185.00 price target on shares of Neurocrine Biosciences in a research note on Monday, April 6th. Wedbush lifted their price target on shares of Neurocrine Biosciences from $166.00 to $176.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th. Royal Bank Of Canada lifted their price target on shares of Neurocrine Biosciences from $180.00 to $183.00 and gave the stock an “outperform” rating in a research note on Friday, May 29th. Finally, HC Wainwright lifted their price target on shares of Neurocrine Biosciences from $192.00 to $215.00 and gave the stock a “buy” rating in a research note on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Neurocrine Biosciences has an average rating of “Moderate Buy” and a consensus target price of $187.52.

Insider Buying and Selling

In other Neurocrine Biosciences news, insider Julie Cooke sold 36,937 shares of Neurocrine Biosciences stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $156.22, for a total value of $5,770,298.14. Following the transaction, the insider directly owned 22,374 shares in the company, valued at approximately $3,495,266.28. The trade was a 62.28% decrease in their ownership of the stock. The transaction 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 Jude Onyia sold 11,000 shares of Neurocrine Biosciences stock in a transaction 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 completion of the transaction, the insider owned 25,846 shares in the company, valued at approximately $4,141,821.50. This represents a 29.85% decrease in their ownership of the stock. 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. Insiders sold a total of 355,234 shares of company stock valued at $55,330,060 in the last quarter. Corporate insiders own 4.60% of the company’s stock.

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.