Intech Investment Management LLC Has $5.74 Million Stock Position in Neurocrine Biosciences, Inc. $NBIX

Intech Investment Management LLC lifted its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 16.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 40,478 shares of the company’s stock after acquiring an additional 5,823 shares during the quarter. Intech Investment Management LLC’s holdings in Neurocrine Biosciences were worth $5,741,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. USA Financial Formulas bought a new position in shares of Neurocrine Biosciences during the 4th quarter worth approximately $25,000. Golden State Wealth Management LLC boosted its stake in shares of Neurocrine Biosciences by 120.5% during the 3rd quarter. Golden State Wealth Management LLC now owns 183 shares of the company’s stock worth $26,000 after acquiring an additional 100 shares during the period. Geneos Wealth Management Inc. boosted its stake in shares of Neurocrine Biosciences by 143.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after acquiring an additional 135 shares during the period. Aster Capital Management DIFC Ltd bought a new position in shares of Neurocrine Biosciences during the 3rd quarter worth approximately $49,000. Finally, Leonteq Securities AG bought a new position in shares of Neurocrine Biosciences during the 4th quarter worth approximately $58,000. 92.59% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NBIX. Zacks Research upgraded Neurocrine Biosciences from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 15th. Piper Sandler lifted their target price on Neurocrine Biosciences from $190.00 to $207.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Leerink Partners lifted their target price on Neurocrine Biosciences from $160.00 to $170.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 22nd. Wall Street Zen upgraded Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 25th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Neurocrine Biosciences in a research note on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Neurocrine Biosciences presently has a consensus rating of “Moderate Buy” and an average target price of $186.05.

Neurocrine Biosciences Price Performance

NBIX opened at $158.30 on Monday. The business has a fifty day simple moving average of $139.36 and a 200 day simple moving average of $139.08. The company has a market capitalization of $15.92 billion, a PE ratio of 24.39, a price-to-earnings-growth ratio of 1.19 and a beta of 0.39. Neurocrine Biosciences, Inc. has a 1 year low of $121.42 and a 1 year high of $162.39.

Insiders Place Their Bets

In related news, insider Jude Onyia sold 11,000 shares of the business’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $155.53, for a total value of $1,710,830.00. Following the completion of the sale, the insider directly owned 25,846 shares in the company, valued at $4,019,828.38. The trade was a 29.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kevin Charles Gorman sold 245,088 shares of the business’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $154.33, for a total value of $37,824,431.04. Following the completion of the sale, the director owned 511,293 shares of the company’s stock, valued at $78,907,848.69. This trade represents a 32.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 278,786 shares of company stock worth $43,099,615 over the last three months. 4.60% of the stock is currently owned by corporate insiders.

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.