Assenagon Asset Management S.A. Has $12.05 Million Stock Position in Neurocrine Biosciences, Inc. $NBIX

Assenagon Asset Management S.A. raised its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 14.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 91,478 shares of the company’s stock after purchasing an additional 11,466 shares during the period. Assenagon Asset Management S.A. owned 0.09% of Neurocrine Biosciences worth $12,051,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of NBIX. USA Financial Formulas bought a new position in shares of Neurocrine Biosciences during the 4th quarter worth approximately $25,000. Geneos Wealth Management Inc. boosted its stake 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 acquiring an additional 135 shares in the last quarter. DJE Kapital AG bought a new position in Neurocrine Biosciences during the fourth quarter worth $28,000. Meeder Asset Management Inc. grew its holdings in Neurocrine Biosciences by 651.6% in the fourth quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock worth $33,000 after purchasing an additional 202 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Neurocrine Biosciences in the fourth quarter worth $39,000. 92.59% of the stock is owned by institutional investors.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ NBIX opened at $168.52 on Friday. Neurocrine Biosciences, Inc. has a fifty-two week low of $122.14 and a fifty-two week high of $169.57. The stock has a market cap of $16.94 billion, a PE ratio of 25.97, a price-to-earnings-growth ratio of 0.67 and a beta of 0.40. The stock has a fifty day moving average of $151.99 and a 200-day moving average of $141.24.

Insider Buying and Selling at Neurocrine Biosciences

In other news, insider Julie Cooke sold 36,937 shares of the business’s stock in a transaction that occurred 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 completion of the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephen A. Sherwin sold 25,000 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $165.32, for a total transaction of $4,133,000.00. Following the sale, the director owned 15,860 shares of the company’s stock, valued at approximately $2,621,975.20. The trade was a 61.18% 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. Over the last ninety days, insiders have sold 355,234 shares of company stock valued at $55,330,060. 4.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NBIX. The Goldman Sachs Group assumed coverage on Neurocrine Biosciences in a research report on Tuesday, June 2nd. They issued a “buy” rating and a $213.00 target price for the company. HC Wainwright lifted their price target on shares of Neurocrine Biosciences from $192.00 to $215.00 and gave the company a “buy” rating in a research report on Tuesday, April 7th. Truist Financial boosted their price target on shares of Neurocrine Biosciences from $140.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. JPMorgan Chase & Co. upped their price objective on shares of Neurocrine Biosciences from $177.00 to $185.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Finally, Morgan Stanley raised their price objective on shares of Neurocrine Biosciences from $185.00 to $191.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Neurocrine Biosciences has a consensus rating of “Moderate Buy” and a consensus 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.