University of Texas Texas AM Investment Management Co. Decreases Stake in Neurocrine Biosciences, Inc. $NBIX

University of Texas Texas AM Investment Management Co. cut its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 26.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,196 shares of the company’s stock after selling 4,078 shares during the quarter. University of Texas Texas AM Investment Management Co.’s holdings in Neurocrine Biosciences were worth $1,588,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. USA Financial Formulas purchased a new stake in shares of Neurocrine Biosciences in the fourth quarter valued at approximately $25,000. DJE Kapital AG acquired a new position in Neurocrine Biosciences during the fourth quarter worth $28,000. Geneos Wealth Management Inc. raised its holdings 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 purchasing an additional 135 shares during the last quarter. Meeder Asset Management Inc. raised its holdings in Neurocrine Biosciences by 651.6% during 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 last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Neurocrine Biosciences during the fourth quarter worth $39,000. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports 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 report on Tuesday, April 7th. Sanford C. Bernstein began coverage on Neurocrine Biosciences in a report on Friday, May 22nd. They set an “outperform” rating and a $221.00 price objective for the company. Weiss Ratings raised Neurocrine Biosciences from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, June 3rd. Needham & Company LLC reaffirmed a “buy” rating and set a $185.00 price objective on shares of Neurocrine Biosciences in a report on Monday, April 6th. Finally, Wolfe Research began coverage on Neurocrine Biosciences in a report on Tuesday, February 24th. They set an “outperform” rating and a $160.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $187.52.

Insider Buying and Selling

In other news, Director Richard F. Pops sold 15,000 shares of the business’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $157.65, for a total value of $2,364,750.00. Following the completion of the transaction, the director directly owned 34,480 shares of the company’s stock, valued at $5,435,772. The trade was a 30.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kevin Charles Gorman sold 245,088 shares of the business’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $154.33, for a total value of $37,824,431.04. Following the completion of the transaction, the director directly owned 511,293 shares of the company’s stock, valued at approximately $78,907,848.69. This trade represents a 32.40% 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. Over the last 90 days, insiders sold 355,234 shares of company stock valued at $55,330,060. Company insiders own 4.60% of the company’s stock.

Neurocrine Biosciences Stock Down 0.2%

NASDAQ NBIX opened at $159.51 on Tuesday. 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 $16.04 billion, a price-to-earnings ratio of 24.58, a price-to-earnings-growth ratio of 1.20 and a beta of 0.39. The business has a fifty day moving average of $146.45 and a 200-day moving average of $140.59.

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.