S&CO Inc. Makes New Investment in Neurocrine Biosciences, Inc. $NBIX

S&CO Inc. bought a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 7,000 shares of the company’s stock, valued at approximately $1,179,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. DJE Kapital AG bought a new stake in shares of Neurocrine Biosciences during the 4th quarter worth approximately $28,000. Geneos Wealth Management Inc. increased its stake in Neurocrine Biosciences by 143.6% in the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after acquiring an additional 135 shares during the last quarter. Meeder Asset Management Inc. increased its stake in Neurocrine Biosciences by 651.6% in the fourth quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock valued at $33,000 after acquiring an additional 202 shares during the last quarter. Basecamp Wealth Advisors LLC raised its position in Neurocrine Biosciences by 582.9% during the first quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company’s stock valued at $31,000 after purchasing an additional 204 shares in the last quarter. Finally, Cassaday & Co Wealth Management LLC acquired a new position in Neurocrine Biosciences during the first quarter valued at approximately $33,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NBIX has been the subject of several recent analyst reports. Royal Bank Of Canada upped their target price on Neurocrine Biosciences from $195.00 to $198.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Cantor Fitzgerald lifted their price target on Neurocrine Biosciences from $210.00 to $215.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Leerink Partners boosted their price target on Neurocrine Biosciences from $160.00 to $170.00 and gave the stock an “outperform” rating in a report on Wednesday, April 22nd. Guggenheim upped their price objective on Neurocrine Biosciences from $200.00 to $222.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Finally, Zacks Research downgraded Neurocrine Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four 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 $200.86.

Insider Transactions at Neurocrine Biosciences

In other news, Director Stephen A. Sherwin sold 25,000 shares of Neurocrine Biosciences 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 sale, the director directly owned 15,860 shares of the company’s stock, valued at approximately $2,621,975.20. This trade represents a 61.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ingrid Delaet sold 4,367 shares of the company’s stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $181.02, for a total value of $790,514.34. Following the completion of the transaction, the insider directly owned 16,225 shares of the company’s stock, valued at $2,937,049.50. This represents a 21.21% 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 90 days, insiders sold 376,612 shares of company stock worth $59,493,355. Insiders own 4.60% of the company’s stock.

Neurocrine Biosciences Price Performance

NBIX stock opened at $152.72 on Friday. The stock has a market cap of $15.52 billion, a price-to-earnings ratio of 22.39, a P/E/G ratio of 0.54 and a beta of 0.39. The company has a 50 day simple moving average of $167.98 and a 200 day simple moving average of $148.23. Neurocrine Biosciences, Inc. has a 1 year low of $122.14 and a 1 year high of $186.12.

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.