BI Asset Management Fondsmaeglerselskab A S Decreases Holdings in Neurocrine Biosciences, Inc. $NBIX

BI Asset Management Fondsmaeglerselskab A S reduced its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 42.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,497 shares of the company’s stock after selling 3,306 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Neurocrine Biosciences were worth $592,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in NBIX. USA Financial Formulas purchased a new stake in Neurocrine Biosciences during the fourth quarter worth approximately $25,000. Geneos Wealth Management Inc. raised its holdings in Neurocrine Biosciences by 143.6% during the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after purchasing an additional 135 shares in the last quarter. DJE Kapital AG acquired a new stake in Neurocrine Biosciences during the fourth quarter worth approximately $28,000. Meeder Asset Management Inc. lifted its position in shares of Neurocrine Biosciences by 651.6% during the 4th quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock worth $33,000 after buying an additional 202 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Neurocrine Biosciences during the 4th quarter worth approximately $39,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Piper Sandler increased their target price on shares of Neurocrine Biosciences from $190.00 to $207.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Zacks Research raised shares of Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Guggenheim restated a “buy” rating and issued a $175.00 price objective on shares of Neurocrine Biosciences in a research note on Wednesday, May 6th. Sanford C. Bernstein began coverage on Neurocrine Biosciences in a report on Friday, May 22nd. They issued an “outperform” rating and a $221.00 target price for the company. Finally, Leerink Partners upped their target price on Neurocrine Biosciences from $160.00 to $170.00 and gave the company an “outperform” rating in a research report on Wednesday, April 22nd. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $187.52.

Insider Buying and Selling at Neurocrine Biosciences

In other news, 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 completion of the transaction, the insider owned 25,846 shares of the company’s stock, valued at $4,141,821.50. The trade was a 29.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephen A. Sherwin sold 25,000 shares of Neurocrine Biosciences stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $165.32, for a total transaction of $4,133,000.00. Following the completion of the sale, the director directly owned 15,860 shares of the company’s stock, valued at $2,621,975.20. The trade was a 61.18% 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. Over the last quarter, insiders sold 355,234 shares of company stock valued at $55,330,060. Corporate insiders own 4.60% of the company’s stock.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ:NBIX opened at $164.18 on Friday. The stock has a market cap of $16.51 billion, a PE ratio of 25.30, a price-to-earnings-growth ratio of 0.66 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 business’s fifty day moving average price is $151.25 and its two-hundred day moving average price is $141.05.

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.