Neurocrine Biosciences, Inc. $NBIX Shares Sold by C WorldWide Group Holding A S

C WorldWide Group Holding A S lowered its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 7.4% during the third quarter, Holdings Channel reports. The fund owned 125,000 shares of the company’s stock after selling 10,000 shares during the quarter. C WorldWide Group Holding A S’s holdings in Neurocrine Biosciences were worth $17,548,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NBIX. Geneos Wealth Management Inc. lifted its holdings in Neurocrine Biosciences by 143.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after purchasing an additional 135 shares in the last quarter. Golden State Wealth Management LLC raised its position in shares of Neurocrine Biosciences by 120.5% in the third quarter. Golden State Wealth Management LLC now owns 183 shares of the company’s stock valued at $26,000 after buying an additional 100 shares during the last quarter. Eastern Bank acquired a new position in shares of Neurocrine Biosciences in the third quarter valued at approximately $27,000. Quent Capital LLC purchased a new position in shares of Neurocrine Biosciences during the third quarter valued at approximately $32,000. Finally, MAI Capital Management lifted its stake in shares of Neurocrine Biosciences by 101.2% during the second quarter. MAI Capital Management now owns 328 shares of the company’s stock valued at $41,000 after buying an additional 165 shares during the period. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Trading Up 0.1%

Shares of NBIX opened at $137.93 on Friday. Neurocrine Biosciences, Inc. has a twelve month low of $84.23 and a twelve month high of $160.18. The firm has a market capitalization of $13.75 billion, a P/E ratio of 33.00, a price-to-earnings-growth ratio of 0.64 and a beta of 0.31. The stock’s fifty day simple moving average is $142.42 and its 200 day simple moving average is $140.34.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Wall Street Zen downgraded Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 31st. TD Cowen lifted their price objective on Neurocrine Biosciences from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, December 5th. Morgan Stanley reiterated an “equal weight” rating and issued a $175.00 target price (up from $173.00) on shares of Neurocrine Biosciences in a research note on Thursday, January 8th. HC Wainwright increased their target price on Neurocrine Biosciences from $168.00 to $198.00 and gave the stock a “buy” rating in a research report on Wednesday, December 17th. Finally, Piper Sandler lifted their price target on Neurocrine Biosciences from $175.00 to $179.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. Seventeen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $174.25.

Insider Transactions at Neurocrine Biosciences

In other news, insider Darin Lippoldt sold 4,376 shares of Neurocrine Biosciences stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $159.65, for a total value of $698,628.40. Following the transaction, the insider directly owned 43,405 shares of the company’s stock, valued at $6,929,608.25. The trade was a 9.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Leslie V. Norwalk sold 5,000 shares of the stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $152.23, for a total transaction of $761,150.00. Following the sale, the director directly owned 7,429 shares of the company’s stock, valued at approximately $1,130,916.67. This trade represents a 40.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 61,966 shares of company stock valued at $8,625,166. 4.80% of the stock is owned by company insiders.

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.