Mediolanum International Funds Ltd Has $1.30 Million Stake in Neurocrine Biosciences, Inc. $NBIX

Mediolanum International Funds Ltd reduced its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 80.4% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 10,094 shares of the company’s stock after selling 41,312 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Neurocrine Biosciences were worth $1,299,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in NBIX. Huntington National Bank lifted its holdings in shares of Neurocrine Biosciences by 12.6% during the 4th quarter. Huntington National Bank now owns 678 shares of the company’s stock worth $96,000 after acquiring an additional 76 shares during the period. Perigon Wealth Management LLC increased its stake in Neurocrine Biosciences by 3.1% in the fourth quarter. Perigon Wealth Management LLC now owns 2,590 shares of the company’s stock valued at $367,000 after acquiring an additional 78 shares during the last quarter. Motley Fool Asset Management LLC increased its stake in Neurocrine Biosciences by 4.8% in the fourth quarter. Motley Fool Asset Management LLC now owns 1,693 shares of the company’s stock valued at $240,000 after acquiring an additional 78 shares during the last quarter. Main Management ETF Advisors LLC raised its position in Neurocrine Biosciences by 1.0% during the fourth quarter. Main Management ETF Advisors LLC now owns 7,830 shares of the company’s stock valued at $1,111,000 after purchasing an additional 80 shares in the last quarter. Finally, Signaturefd LLC raised its position in Neurocrine Biosciences by 4.5% during the fourth quarter. Signaturefd LLC now owns 1,925 shares of the company’s stock valued at $273,000 after purchasing an additional 83 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NBIX has been the topic of a number of research analyst reports. HC Wainwright raised their target price on Neurocrine Biosciences from $192.00 to $215.00 and gave the company a “buy” rating in a report on Tuesday, April 7th. Wedbush upped their price objective on Neurocrine Biosciences from $166.00 to $176.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Weiss Ratings downgraded Neurocrine Biosciences from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, July 10th. Canaccord Genuity Group raised their price objective on Neurocrine Biosciences from $164.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, April 7th. Finally, Piper Sandler lifted their target price on Neurocrine Biosciences from $190.00 to $207.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $194.05.

Neurocrine Biosciences Stock Performance

NASDAQ NBIX opened at $179.05 on Wednesday. The firm’s fifty day moving average price is $164.65 and its two-hundred day moving average price is $144.28. The stock has a market cap of $18.00 billion, a PE ratio of 27.59, a PEG ratio of 0.69 and a beta of 0.39. Neurocrine Biosciences, Inc. has a fifty-two week low of $122.14 and a fifty-two week high of $181.18.

Insider Buying and Selling

In other Neurocrine Biosciences news, insider Julie Cooke sold 36,937 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $156.22, for a total value of $5,770,298.14. Following the completion of the transaction, the insider owned 22,374 shares of the company’s stock, valued at $3,495,266.28. This represents a 62.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kevin Charles Gorman sold 245,088 shares of the stock in a transaction dated 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 transaction, the director owned 511,293 shares of the company’s stock, valued at $78,907,848.69. This 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 394,172 shares of company stock worth $62,221,181 in the last ninety days. Insiders own 4.60% of the company’s stock.

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.