Talon Private Wealth LLC Invests $631,000 in Neurocrine Biosciences, Inc. $NBIX

Talon Private Wealth LLC bought a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,789 shares of the company’s stock, valued at approximately $631,000.

Several other hedge funds also recently modified their holdings of the stock. Geneos Wealth Management Inc. grew 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 buying an additional 135 shares in the last quarter. DJE Kapital AG purchased a new stake in Neurocrine Biosciences in the 4th quarter valued at $28,000. Cassaday & Co Wealth Management LLC bought a new position in Neurocrine Biosciences during the 1st quarter valued at $33,000. Meeder Asset Management Inc. lifted its stake in Neurocrine Biosciences by 651.6% during the 4th quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock valued at $33,000 after acquiring an additional 202 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Neurocrine Biosciences during the 4th quarter worth $39,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Analysts Set New Price Targets

NBIX has been the subject of several recent analyst reports. Sanford C. Bernstein started coverage on shares of Neurocrine Biosciences in a research note on Friday, May 22nd. They issued an “outperform” rating and a $221.00 target price for the company. JPMorgan Chase & Co. raised their price target 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. Guggenheim boosted their price target on shares of Neurocrine Biosciences from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. Wedbush upped their price objective on shares of Neurocrine Biosciences from $166.00 to $176.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Finally, Wells Fargo & Company lifted their target price on shares of Neurocrine Biosciences from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, July 17th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $194.05.

Insider Activity

In other Neurocrine Biosciences news, insider Jude Onyia sold 11,000 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $160.25, for a total transaction of $1,762,750.00. Following the sale, the insider directly owned 25,846 shares of the company’s stock, valued at $4,141,821.50. This represents a 29.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kevin Charles Gorman sold 245,088 shares of the stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $154.33, for a total transaction of $37,824,431.04. Following the transaction, the director owned 511,293 shares of the company’s stock, valued at $78,907,848.69. This represents a 32.40% 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 three months, insiders have sold 394,172 shares of company stock worth $62,221,181. 4.60% of the stock is owned by company insiders.

Neurocrine Biosciences Trading Down 1.1%

Neurocrine Biosciences stock opened at $180.79 on Thursday. The business’s 50 day simple moving average is $167.01 and its 200 day simple moving average is $145.90. Neurocrine Biosciences, Inc. has a 12 month low of $122.14 and a 12 month high of $183.50. The company has a market cap of $18.18 billion, a price-to-earnings ratio of 27.86, a PEG ratio of 0.77 and a beta of 0.39.

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.