PSP Research LLC Acquires Shares of 3,734 Neurocrine Biosciences, Inc. $NBIX

PSP Research LLC acquired a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 3,734 shares of the company’s stock, valued at approximately $530,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. AlTi Global Inc. increased its holdings in shares of Neurocrine Biosciences by 1.0% in the third quarter. AlTi Global Inc. now owns 6,828 shares of the company’s stock valued at $959,000 after purchasing an additional 70 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Neurocrine Biosciences by 0.7% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 11,112 shares of the company’s stock valued at $1,560,000 after purchasing an additional 77 shares during the last quarter. Perigon Wealth Management LLC increased its holdings in shares of Neurocrine Biosciences by 3.1% in the fourth quarter. Perigon Wealth Management LLC now owns 2,590 shares of the company’s stock valued at $367,000 after purchasing an additional 78 shares during the last quarter. Signaturefd LLC increased its holdings in shares of Neurocrine Biosciences by 4.5% in the fourth quarter. Signaturefd LLC now owns 1,925 shares of the company’s stock valued at $273,000 after purchasing an additional 83 shares during the last quarter. Finally, Great Lakes Advisors LLC increased its holdings in shares of Neurocrine Biosciences by 2.4% in the third quarter. Great Lakes Advisors LLC now owns 3,605 shares of the company’s stock valued at $506,000 after purchasing an additional 84 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on NBIX shares. Leerink Partners upped their price target on shares of Neurocrine Biosciences from $160.00 to $170.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. Citigroup upped their price target on shares of Neurocrine Biosciences from $242.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Truist Financial upped their price target on shares of Neurocrine Biosciences from $140.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. JPMorgan Chase & Co. upped their price target on shares of Neurocrine Biosciences from $177.00 to $185.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Finally, UBS Group decreased their price target on shares of Neurocrine Biosciences from $188.00 to $178.00 and set a “buy” rating on the stock in a research note on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $184.15.

Neurocrine Biosciences Stock Performance

NBIX stock opened at $154.36 on Wednesday. The company’s 50-day simple moving average is $135.12 and its 200 day simple moving average is $138.57. Neurocrine Biosciences, Inc. has a 52 week low of $117.59 and a 52 week high of $162.39. The company has a market capitalization of $15.52 billion, a PE ratio of 23.78, a price-to-earnings-growth ratio of 1.18 and a beta of 0.34.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director Leslie V. Norwalk sold 3,810 shares of the stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $155.01, for a total transaction of $590,588.10. Following the sale, the director directly owned 2,429 shares in the company, valued at $376,519.29. This represents a 61.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at 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 stock in a transaction dated 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 sale, the director owned 34,480 shares in the company, valued at $5,435,772. The trade was a 30.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 4.60% of the company’s stock.

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.