Neurocrine Biosciences, Inc. $NBIX Shares Sold by TD Asset Management Inc

TD Asset Management Inc lowered its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 31.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 71,073 shares of the company’s stock after selling 32,550 shares during the period. TD Asset Management Inc’s holdings in Neurocrine Biosciences were worth $10,080,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in NBIX. AQR Capital Management LLC boosted its position in shares of Neurocrine Biosciences by 83.7% in the 3rd quarter. AQR Capital Management LLC now owns 2,773,648 shares of the company’s stock worth $388,435,000 after buying an additional 1,263,633 shares in the last quarter. Norges Bank purchased a new position in Neurocrine Biosciences during the 4th quarter valued at about $162,664,000. UBS Group AG raised its position in Neurocrine Biosciences by 169.8% during the fourth quarter. UBS Group AG now owns 983,528 shares of the company’s stock worth $139,494,000 after acquiring an additional 618,956 shares during the last quarter. JPMorgan Chase & Co. raised its position in Neurocrine Biosciences by 11.0% during the third quarter. JPMorgan Chase & Co. now owns 4,730,152 shares of the company’s stock worth $664,019,000 after acquiring an additional 468,405 shares during the last quarter. Finally, Two Sigma Investments LP purchased a new stake in shares of Neurocrine Biosciences in the third quarter valued at about $48,791,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

Neurocrine Biosciences Price Performance

Shares of NASDAQ NBIX opened at $165.24 on Wednesday. The company has a 50-day simple moving average of $144.09 and a 200-day simple moving average of $140.05. The company has a market cap of $16.61 billion, a PE ratio of 25.46, a price-to-earnings-growth ratio of 1.22 and a beta of 0.40. Neurocrine Biosciences, Inc. has a 12 month low of $122.14 and a 12 month high of $169.57.

Wall Street Analyst Weigh In

Several research firms have recently commented on NBIX. Sanford C. Bernstein began coverage on shares of Neurocrine Biosciences in a research report on Friday, May 22nd. They issued an “outperform” rating and a $221.00 price target on the stock. Morgan Stanley lifted their price objective on Neurocrine Biosciences from $185.00 to $191.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Royal Bank Of Canada upped their target price on Neurocrine Biosciences from $180.00 to $183.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. Wedbush raised their price target on Neurocrine Biosciences from $166.00 to $176.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $185.00 price target on shares of Neurocrine Biosciences in a report on Monday, April 6th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $187.52.

Insider Activity

In other news, insider Ingrid Delaet sold 2,261 shares of the firm’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $156.71, for a total transaction of $354,321.31. Following the sale, the insider owned 16,225 shares in the company, valued at $2,542,619.75. This trade represents a 12.23% 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 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 value of $4,133,000.00. Following the completion of the sale, the director directly owned 15,860 shares of the company’s stock, valued at approximately $2,621,975.20. This represents a 61.18% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 355,234 shares of company stock valued at $55,330,060 in the last 90 days. Insiders own 4.60% of the company’s stock.

Neurocrine Biosciences 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.