Ieq Capital LLC Raises Position in Neurocrine Biosciences, Inc. $NBIX

Ieq Capital LLC boosted its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 7.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 745,113 shares of the company’s stock after buying an additional 52,512 shares during the period. Neurocrine Biosciences accounts for approximately 0.3% of Ieq Capital LLC’s portfolio, making the stock its 29th largest position. Ieq Capital LLC owned 0.75% of Neurocrine Biosciences worth $105,679,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of NBIX. AQR Capital Management LLC lifted its holdings in Neurocrine Biosciences by 83.7% in the third quarter. AQR Capital Management LLC now owns 2,773,648 shares of the company’s stock worth $388,435,000 after buying an additional 1,263,633 shares during the period. Norges Bank purchased a new stake in Neurocrine Biosciences in the fourth quarter worth about $162,664,000. UBS Group AG lifted its holdings in Neurocrine Biosciences by 169.8% in the fourth quarter. UBS Group AG now owns 983,528 shares of the company’s stock worth $139,494,000 after buying an additional 618,956 shares during the period. JPMorgan Chase & Co. lifted its holdings in Neurocrine Biosciences by 11.0% in the third quarter. JPMorgan Chase & Co. now owns 4,730,152 shares of the company’s stock worth $664,019,000 after buying an additional 468,405 shares during the period. Finally, Two Sigma Investments LP purchased a new stake in Neurocrine Biosciences in the third quarter worth about $48,791,000. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Neurocrine Biosciences Trading Down 1.8%

NASDAQ:NBIX opened at $159.76 on Friday. Neurocrine Biosciences, Inc. has a 12 month low of $122.14 and a 12 month high of $169.57. The company has a market cap of $16.06 billion, a PE ratio of 24.62, a price-to-earnings-growth ratio of 1.22 and a beta of 0.40. The company has a 50 day simple moving average of $145.89 and a two-hundred day simple moving average of $140.48.

Insiders Place Their Bets

In other Neurocrine Biosciences news, insider Jude Onyia sold 11,000 shares of Neurocrine Biosciences 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 sale, the insider owned 25,846 shares of the company’s stock, valued at approximately $4,141,821.50. The trade was a 29.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ingrid Delaet sold 2,261 shares of Neurocrine Biosciences stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $156.71, for a total transaction of $354,321.31. Following the completion of the sale, the insider directly owned 16,225 shares of the company’s stock, valued at approximately $2,542,619.75. This trade represents a 12.23% decrease in their position. 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 a total of 355,234 shares of company stock worth $55,330,060 in the last 90 days. Insiders own 4.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Truist Financial raised their price objective on shares of Neurocrine Biosciences from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. HC Wainwright raised their price objective on shares of Neurocrine Biosciences from $192.00 to $215.00 and gave the stock a “buy” rating in a report on Tuesday, April 7th. Canaccord Genuity Group raised their price objective on shares of Neurocrine Biosciences from $164.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, April 7th. Wolfe Research started coverage on shares of Neurocrine Biosciences in a report on Tuesday, February 24th. They issued an “outperform” rating and a $160.00 price objective for the company. Finally, Guggenheim reiterated a “buy” rating and set a $175.00 target price on shares of Neurocrine Biosciences in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Neurocrine Biosciences currently has a consensus rating of “Moderate Buy” and a consensus price target of $187.52.

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.