SG Americas Securities LLC Sells 75,263 Shares of Neurocrine Biosciences, Inc. $NBIX

SG Americas Securities LLC lessened its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 55.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 59,267 shares of the company’s stock after selling 75,263 shares during the quarter. SG Americas Securities LLC owned 0.06% of Neurocrine Biosciences worth $7,808,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. USA Financial Formulas bought a new position in shares of Neurocrine Biosciences during the fourth quarter valued at about $25,000. DJE Kapital AG bought a new stake in shares of Neurocrine Biosciences in the 4th quarter valued at about $28,000. Geneos Wealth Management Inc. boosted its holdings in Neurocrine Biosciences by 143.6% during 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 period. Meeder Asset Management Inc. boosted its holdings in Neurocrine Biosciences by 651.6% during the 4th quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock valued at $33,000 after acquiring an additional 202 shares during the period. Finally, Caitong International Asset Management Co. Ltd bought a new position in Neurocrine Biosciences during the 4th quarter worth approximately $39,000. 92.59% of the stock is owned by institutional investors.

Neurocrine Biosciences Stock Up 2.6%

NASDAQ:NBIX opened at $168.52 on Friday. The firm’s fifty day simple moving average is $151.99 and its 200 day simple moving average is $141.24. The stock has a market cap of $16.94 billion, a P/E ratio of 25.97, a price-to-earnings-growth ratio of 0.67 and a beta of 0.40. Neurocrine Biosciences, Inc. has a twelve month low of $122.14 and a twelve month high of $169.57.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Guggenheim reiterated a “buy” rating and issued a $175.00 price objective on shares of Neurocrine Biosciences in a research report on Wednesday, May 6th. JPMorgan Chase & Co. raised their target price 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. Leerink Partners lifted their target price on shares of Neurocrine Biosciences from $160.00 to $170.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 22nd. Royal Bank Of Canada upped their price target on shares of Neurocrine Biosciences from $180.00 to $183.00 and gave the company an “outperform” rating in a report on Friday, May 29th. Finally, Canaccord Genuity Group increased their price target on shares of Neurocrine Biosciences from $164.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, April 7th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Neurocrine Biosciences has a consensus rating of “Moderate Buy” and an average target price of $187.52.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 245,088 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $154.33, for a total value of $37,824,431.04. Following the completion of the sale, the director directly owned 511,293 shares in the company, valued at $78,907,848.69. This trade represents a 32.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Julie Cooke sold 36,937 shares of Neurocrine Biosciences 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 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 ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 355,234 shares of company stock valued at $55,330,060 over the last three months. 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.