Citizens Financial Group Inc. RI Makes New Investment in Neurocrine Biosciences, Inc. $NBIX

Citizens Financial Group Inc. RI purchased a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,254 shares of the company’s stock, valued at approximately $429,000.

Several other hedge funds also recently modified their holdings of NBIX. Fifth Third Bancorp lifted its holdings in shares of Neurocrine Biosciences by 3,070.5% during the first quarter. Fifth Third Bancorp now owns 27,393 shares of the company’s stock worth $3,609,000 after purchasing an additional 26,529 shares during the period. Hsbc Holdings PLC increased its holdings in Neurocrine Biosciences by 169.8% in the first quarter. Hsbc Holdings PLC now owns 184,222 shares of the company’s stock valued at $24,297,000 after purchasing an additional 115,930 shares during the period. Graetz Wealth LLC increased its holdings in Neurocrine Biosciences by 14.1% in the first quarter. Graetz Wealth LLC now owns 1,868 shares of the company’s stock valued at $246,000 after purchasing an additional 231 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its position in Neurocrine Biosciences by 8.8% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 220,449 shares of the company’s stock worth $29,042,000 after purchasing an additional 17,783 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund raised its position in Neurocrine Biosciences by 3.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 20,584 shares of the company’s stock worth $2,712,000 after purchasing an additional 651 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Insider Transactions at Neurocrine Biosciences

In related news, insider Julie Cooke sold 36,937 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $156.22, for a total transaction of $5,770,298.14. Following the completion of the sale, the insider directly owned 22,374 shares of the company’s stock, valued at approximately $3,495,266.28. This trade represents a 62.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Darin Lippoldt sold 10,000 shares of the firm’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $179.60, for a total value of $1,796,000.00. Following the sale, the insider directly owned 54,729 shares of the company’s stock, valued at approximately $9,829,328.40. This represents a 15.45% 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. In the last 90 days, insiders have sold 394,172 shares of company stock worth $62,221,181. Company insiders own 4.60% of the company’s stock.

Neurocrine Biosciences Stock Up 0.0%

NASDAQ NBIX opened at $172.05 on Thursday. The company has a market cap of $17.30 billion, a price-to-earnings ratio of 26.51, a P/E/G ratio of 0.68 and a beta of 0.39. Neurocrine Biosciences, Inc. has a 52 week low of $122.14 and a 52 week high of $181.18. The business has a 50 day moving average price of $162.93 and a 200-day moving average price of $143.42.

Wall Street Analyst Weigh In

A number of research firms recently commented on NBIX. HC Wainwright lifted their price objective on Neurocrine Biosciences from $192.00 to $215.00 and gave the stock a “buy” rating in a research note on Tuesday, April 7th. Wedbush increased their target price on shares of Neurocrine Biosciences from $166.00 to $176.00 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. Morgan Stanley raised their price target on shares of Neurocrine Biosciences from $185.00 to $191.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Weiss Ratings lowered shares of Neurocrine Biosciences from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, July 10th. Finally, BMO Capital Markets upped their price objective on shares of Neurocrine Biosciences from $144.00 to $170.00 and gave the company a “market perform” rating in a research note on Monday. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Neurocrine Biosciences presently has a consensus rating of “Moderate Buy” and a consensus price target of $191.67.

Neurocrine Biosciences Company 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.