Geode Capital Management LLC Has $291.34 Million Position in Neurocrine Biosciences, Inc. $NBIX

Geode Capital Management LLC increased its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 1.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,059,282 shares of the company’s stock after acquiring an additional 34,457 shares during the quarter. Geode Capital Management LLC’s holdings in Neurocrine Biosciences were worth $291,342,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in NBIX. AQR Capital Management LLC boosted its stake in Neurocrine Biosciences by 83.7% in the 3rd quarter. AQR Capital Management LLC now owns 2,773,648 shares of the company’s stock valued at $388,435,000 after purchasing an additional 1,263,633 shares during the period. UBS Group AG boosted its stake in Neurocrine Biosciences by 169.8% in the 4th quarter. UBS Group AG now owns 983,528 shares of the company’s stock valued at $139,494,000 after purchasing an additional 618,956 shares during the period. JPMorgan Chase & Co. boosted its stake in Neurocrine Biosciences by 11.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,730,152 shares of the company’s stock valued at $664,019,000 after purchasing an additional 468,405 shares during the period. Two Sigma Investments LP bought a new stake in Neurocrine Biosciences in the 3rd quarter valued at $48,791,000. Finally, Adage Capital Partners GP L.L.C. bought a new stake in Neurocrine Biosciences in the 2nd quarter valued at $42,933,000. 92.59% of the stock is currently owned by institutional investors.

Insider Activity at Neurocrine Biosciences

In other news, Director Richard F. Pops sold 15,000 shares of the business’s stock in a transaction on 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 completion of the transaction, the director owned 34,480 shares of the company’s stock, valued at approximately $5,435,772. The trade was a 30.32% decrease in their position. The transaction was disclosed in a 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 Kevin Charles Gorman sold 245,088 shares of the business’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $154.33, for a total value of $37,824,431.04. Following the transaction, the director directly owned 511,293 shares of the company’s stock, valued at $78,907,848.69. This trade represents a 32.40% 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 278,786 shares of company stock worth $43,099,615 in the last three months. Insiders own 4.60% of the company’s stock.

Neurocrine Biosciences Stock Performance

Neurocrine Biosciences stock opened at $161.00 on Tuesday. Neurocrine Biosciences, Inc. has a 52 week low of $121.83 and a 52 week high of $162.39. The stock has a market capitalization of $16.19 billion, a P/E ratio of 24.81, a price-to-earnings-growth ratio of 1.19 and a beta of 0.39. The stock has a fifty day moving average of $139.98 and a 200-day moving average of $139.18.

Analyst Ratings Changes

Several analysts recently issued reports on NBIX shares. HC Wainwright boosted their price target on Neurocrine Biosciences from $192.00 to $215.00 and gave the company a “buy” rating in a research note on Tuesday, April 7th. Sanford C. Bernstein started coverage on Neurocrine Biosciences in a research note on Friday, May 22nd. They issued an “outperform” rating and a $221.00 price target for the company. Zacks Research upgraded Neurocrine Biosciences from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 15th. Leerink Partners upped their target price on Neurocrine Biosciences from $160.00 to $170.00 and gave the company an “outperform” rating in a research report on Wednesday, April 22nd. Finally, Citigroup upped their target price on Neurocrine Biosciences from $242.00 to $246.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $186.05.

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.