Bull Harbor Capital LLC Purchases Shares of 9,213 Neurocrine Biosciences, Inc. $NBIX

Bull Harbor Capital LLC acquired a new position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the 1st quarter, HoldingsChannel reports. The firm acquired 9,213 shares of the company’s stock, valued at approximately $1,214,000.

Other hedge funds have also recently made changes to their positions in the company. AQR Capital Management LLC lifted its stake 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 acquiring an additional 1,263,633 shares during the period. Norges Bank bought a new stake in Neurocrine Biosciences in the fourth quarter valued at $162,664,000. UBS Group AG increased its position in Neurocrine Biosciences by 169.8% during the 4th quarter. UBS Group AG now owns 983,528 shares of the company’s stock valued at $139,494,000 after purchasing an additional 618,956 shares during the period. First Trust Advisors LP increased its position in Neurocrine Biosciences by 97.0% during the 1st quarter. First Trust Advisors LP now owns 959,217 shares of the company’s stock valued at $126,367,000 after purchasing an additional 472,408 shares during the period. Finally, Zurich Insurance Group Ltd FI bought a new position in Neurocrine Biosciences in the 4th quarter worth $65,162,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

Neurocrine Biosciences Trading Down 1.1%

Shares of Neurocrine Biosciences stock opened at $180.79 on Thursday. The firm has a market capitalization of $18.18 billion, a P/E ratio of 27.86, a P/E/G ratio of 0.77 and a beta of 0.39. The business has a fifty day simple moving average of $167.01 and a two-hundred day simple moving average of $145.90. Neurocrine Biosciences, Inc. has a 12 month low of $122.14 and a 12 month high of $183.50.

Insider Transactions at Neurocrine Biosciences

In related news, insider Darin Lippoldt sold 10,000 shares of the business’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $179.60, for a total transaction of $1,796,000.00. Following the sale, the insider owned 54,729 shares of the company’s stock, valued at $9,829,328.40. The trade was a 15.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephen A. Sherwin sold 25,000 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $165.32, for a total transaction of $4,133,000.00. Following the completion of the sale, the director owned 15,860 shares in the company, valued at approximately $2,621,975.20. This trade represents a 61.18% decrease in their position. 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 ninety days, insiders sold 394,172 shares of company stock worth $62,221,181. 4.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on NBIX shares. 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 research report on Friday, May 8th. Sanford C. Bernstein started coverage on shares of Neurocrine Biosciences in a research report on Friday, May 22nd. They set an “outperform” rating and a $221.00 price target on the stock. Morgan Stanley increased their price target on shares of Neurocrine Biosciences from $185.00 to $191.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. Zacks Research upgraded shares of Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 23rd. Finally, BMO Capital Markets lifted their price objective on Neurocrine Biosciences from $144.00 to $170.00 and gave the company a “market perform” 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 issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $194.05.

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.