Neurocrine Biosciences, Inc. $NBIX Position Cut by Legal & General Group Plc

Legal & General Group Plc trimmed its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 17.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 330,606 shares of the company’s stock after selling 69,564 shares during the quarter. Legal & General Group Plc’s holdings in Neurocrine Biosciences were worth $46,890,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Genus Capital Management Inc. bought a new position in Neurocrine Biosciences in the 4th quarter worth approximately $3,828,000. New Age Alpha Advisors LLC grew its holdings in Neurocrine Biosciences by 13.4% in the 4th quarter. New Age Alpha Advisors LLC now owns 23,334 shares of the company’s stock worth $3,309,000 after buying an additional 2,754 shares in the last quarter. Hantz Financial Services Inc. grew its holdings in Neurocrine Biosciences by 67.3% in the 4th quarter. Hantz Financial Services Inc. now owns 3,354 shares of the company’s stock worth $476,000 after buying an additional 1,349 shares in the last quarter. Swedbank AB grew its holdings in Neurocrine Biosciences by 6.7% in the 4th quarter. Swedbank AB now owns 584,129 shares of the company’s stock worth $82,847,000 after buying an additional 36,800 shares in the last quarter. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in Neurocrine Biosciences in the 4th quarter worth approximately $1,866,000. 92.59% of the stock is owned by institutional investors.

Insider Activity at Neurocrine Biosciences

In other news, insider Jude Onyia sold 11,000 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $155.53, for a total transaction of $1,710,830.00. Following the completion of the sale, the insider owned 25,846 shares in the company, valued at approximately $4,019,828.38. This represents a 29.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 on Friday, May 15th. The shares were sold at an average price of $157.65, for a total value of $2,364,750.00. Following the sale, the director owned 34,480 shares of the company’s stock, valued at $5,435,772. This trade represents a 30.32% 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. In the last three months, insiders have sold 278,786 shares of company stock worth $43,099,615. 4.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on NBIX. Leerink Partners increased their price target on Neurocrine Biosciences from $160.00 to $170.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. BMO Capital Markets decreased their price target on Neurocrine Biosciences from $147.00 to $140.00 and set a “market perform” rating for the company in a research note on Thursday, February 12th. Canaccord Genuity Group increased their price target on Neurocrine Biosciences from $164.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, April 7th. Morgan Stanley increased their price target on Neurocrine Biosciences from $185.00 to $191.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Finally, Citigroup increased their price target on Neurocrine Biosciences from $242.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Neurocrine Biosciences has a consensus rating of “Moderate Buy” and an average price target of $186.05.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ NBIX opened at $158.30 on Friday. The stock has a fifty day moving average price of $139.36 and a two-hundred day moving average price of $139.16. The firm has a market cap of $15.92 billion, a P/E ratio of 24.39, a PEG ratio of 1.19 and a beta of 0.34. Neurocrine Biosciences, Inc. has a 1 year low of $121.42 and a 1 year high of $162.39.

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.