Los Angeles Capital Management LLC Buys 88,522 Shares of Neurocrine Biosciences, Inc. $NBIX

Los Angeles Capital Management LLC increased its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 7.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,291,278 shares of the company’s stock after buying an additional 88,522 shares during the period. Los Angeles Capital Management LLC owned 1.30% of Neurocrine Biosciences worth $178,248,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of NBIX. USA Financial Formulas bought a new position in Neurocrine Biosciences in the fourth quarter worth about $25,000. Geneos Wealth Management Inc. raised its stake in Neurocrine Biosciences by 143.6% in the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after buying an additional 135 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in Neurocrine Biosciences in the third quarter worth about $49,000. Leonteq Securities AG bought a new position in Neurocrine Biosciences in the fourth quarter worth about $58,000. Finally, Smartleaf Asset Management LLC raised its stake in Neurocrine Biosciences by 112.0% in the third quarter. Smartleaf Asset Management LLC now owns 424 shares of the company’s stock worth $59,000 after buying an additional 224 shares in the last quarter. 92.59% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Kevin Charles Gorman sold 245,088 shares of the firm’s stock in a transaction that occurred 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 sale, the director owned 511,293 shares in the company, valued at approximately $78,907,848.69. This trade represents a 32.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Julie Cooke sold 36,937 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $156.22, for a total transaction of $5,770,298.14. Following the completion of the sale, the insider owned 22,374 shares in the company, valued at $3,495,266.28. This represents a 62.28% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 328,984 shares of company stock valued at $50,986,985 in the last ninety days. Corporate insiders own 4.60% of the company’s stock.

Neurocrine Biosciences Stock Down 2.1%

Shares of NBIX opened at $163.88 on Friday. The company has a market capitalization of $16.48 billion, a P/E ratio of 25.25, a price-to-earnings-growth ratio of 1.23 and a beta of 0.40. The firm has a 50 day moving average of $142.73 and a 200 day moving average of $139.71. Neurocrine Biosciences, Inc. has a twelve month low of $122.14 and a twelve month high of $169.57.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on NBIX shares. BMO Capital Markets decreased their price target on shares of 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. Wall Street Zen raised shares of Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 25th. Morgan Stanley raised their target price on shares of Neurocrine Biosciences from $185.00 to $191.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $185.00 target price on shares of Neurocrine Biosciences in a research note on Monday, April 6th. Finally, JPMorgan Chase & Co. raised their target price on shares of Neurocrine Biosciences from $177.00 to $185.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Neurocrine Biosciences has a consensus rating of “Moderate Buy” and an average price target of $187.52.

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.