Dimensional Fund Advisors LP Has $93.75 Million Position in Neurocrine Biosciences, Inc. $NBIX

Dimensional Fund Advisors LP lessened its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 0.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 711,762 shares of the company’s stock after selling 4,713 shares during the period. Dimensional Fund Advisors LP’s holdings in Neurocrine Biosciences were worth $93,753,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its position in shares of Neurocrine Biosciences by 83.7% during the 3rd quarter. AQR Capital Management LLC now owns 2,773,648 shares of the company’s stock valued at $388,435,000 after acquiring an additional 1,263,633 shares during the period. Norges Bank acquired a new position in Neurocrine Biosciences in the fourth quarter valued at about $162,664,000. UBS Group AG raised its stake in Neurocrine Biosciences by 169.8% in the fourth 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 in the last quarter. Zurich Insurance Group Ltd FI bought a new stake in Neurocrine Biosciences during the fourth quarter worth about $65,162,000. Finally, Two Sigma Investments LP bought a new stake in Neurocrine Biosciences during the third quarter worth about $48,791,000. 92.59% of the stock is owned by institutional investors and hedge funds.

Neurocrine Biosciences Price Performance

Neurocrine Biosciences stock opened at $180.79 on Thursday. The business has a 50 day moving average of $167.01 and a 200-day moving average of $145.90. The company 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. Neurocrine Biosciences, Inc. has a 1 year low of $122.14 and a 1 year high of $183.50.

Analyst Upgrades and Downgrades

Several equities analysts have commented on NBIX shares. Canaccord Genuity Group raised their target price on shares of Neurocrine Biosciences from $164.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, April 7th. Wells Fargo & Company upped their price target on shares of Neurocrine Biosciences from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. Zacks Research raised shares of Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 23rd. JPMorgan Chase & Co. boosted their price objective on shares of Neurocrine Biosciences from $177.00 to $185.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Finally, Wedbush raised their target price on Neurocrine Biosciences from $166.00 to $176.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $194.05.

Insider Activity

In other news, Director Stephen A. Sherwin sold 25,000 shares of Neurocrine Biosciences stock in a transaction on Friday, June 5th. The shares were sold at an average price of $165.32, for a total transaction of $4,133,000.00. Following the transaction, the director owned 15,860 shares in the company, valued at approximately $2,621,975.20. The trade was a 61.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 transaction of $2,364,750.00. Following the completion of the sale, the director directly owned 34,480 shares in the company, valued at approximately $5,435,772. This represents a 30.32% 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. In the last three months, insiders have sold 394,172 shares of company stock valued at $62,221,181. 4.60% of the stock is currently owned by company insiders.

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.