Neurocrine Biosciences, Inc. $NBIX Shares Purchased by First Trust Advisors LP

First Trust Advisors LP raised its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 97.0% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 959,217 shares of the company’s stock after buying an additional 472,408 shares during the quarter. First Trust Advisors LP owned approximately 0.95% of Neurocrine Biosciences worth $126,367,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. USA Financial Formulas acquired a new stake in shares of Neurocrine Biosciences in the 4th quarter worth about $25,000. DJE Kapital AG acquired a new position in Neurocrine Biosciences during the 4th quarter valued at about $28,000. Geneos Wealth Management Inc. grew its position in Neurocrine Biosciences by 143.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after purchasing an additional 135 shares during the last quarter. Meeder Asset Management Inc. grew its position in Neurocrine Biosciences by 651.6% in the 4th 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 last quarter. Finally, Cassaday & Co Wealth Management LLC bought a new position in Neurocrine Biosciences in the 1st quarter worth about $33,000. Institutional investors own 92.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NBIX. Morgan Stanley lifted their price target on Neurocrine Biosciences from $185.00 to $191.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. Royal Bank Of Canada increased their price objective on Neurocrine Biosciences from $183.00 to $195.00 and gave the stock an “outperform” rating in a report on Tuesday, July 7th. 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 on the stock. Wall Street Zen raised Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 25th. Finally, Truist Financial boosted their price target on Neurocrine Biosciences from $155.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $194.05.

Insider Activity

In other Neurocrine Biosciences news, Director Leslie V. Norwalk sold 1,250 shares of the stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $168.06, for a total transaction of $210,075.00. Following the completion of the transaction, the director directly owned 2,838 shares of the company’s stock, valued at approximately $476,954.28. This trade represents a 30.58% decrease in their position. The sale 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 Ingrid Delaet sold 4,367 shares of Neurocrine Biosciences stock in a transaction on Friday, July 10th. The shares were sold at an average price of $181.02, for a total value of $790,514.34. Following the transaction, the insider owned 16,225 shares in the company, valued at approximately $2,937,049.50. This trade represents a 21.21% 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 have sold 394,172 shares of company stock valued at $62,221,181 over the last 90 days. Corporate insiders own 4.60% of the company’s stock.

Neurocrine Biosciences Trading Up 0.8%

Shares of NASDAQ:NBIX opened at $174.15 on Friday. The company has a 50 day moving average of $165.18 and a 200-day moving average of $144.73. The firm has a market cap of $17.51 billion, a P/E ratio of 26.83, a P/E/G ratio of 0.69 and a beta of 0.39. Neurocrine Biosciences, Inc. has a twelve month low of $122.14 and a twelve month high of $181.18.

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.