Neurocrine Biosciences, Inc. $NBIX Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC lessened its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 8.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 310,077 shares of the company’s stock after selling 26,859 shares during the quarter. Clearbridge Investments LLC’s holdings in Neurocrine Biosciences were worth $43,978,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. AlTi Global Inc. boosted its position in Neurocrine Biosciences by 1.0% during the 3rd quarter. AlTi Global Inc. now owns 6,828 shares of the company’s stock worth $959,000 after acquiring an additional 70 shares during the period. Huntington National Bank boosted its position in 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 boosted its position in Neurocrine Biosciences by 3.1% during the 4th quarter. Perigon Wealth Management LLC now owns 2,590 shares of the company’s stock worth $367,000 after acquiring an additional 78 shares during the period. Main Management ETF Advisors LLC boosted its position in Neurocrine Biosciences by 1.0% during the 4th quarter. Main Management ETF Advisors LLC now owns 7,830 shares of the company’s stock worth $1,111,000 after acquiring an additional 80 shares during the period. Finally, Signaturefd LLC boosted its position in Neurocrine Biosciences by 4.5% during the 4th quarter. Signaturefd LLC now owns 1,925 shares of the company’s stock worth $273,000 after acquiring an additional 83 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Neurocrine Biosciences Stock Up 1.3%

Shares of Neurocrine Biosciences stock opened at $165.24 on Wednesday. The firm has a market cap of $16.61 billion, a price-to-earnings ratio of 25.46, a price-to-earnings-growth ratio of 1.22 and a beta of 0.40. The business has a fifty day simple moving average of $144.09 and a 200-day simple moving average of $140.05. Neurocrine Biosciences, Inc. has a fifty-two week low of $122.14 and a fifty-two week high of $169.57.

Insiders Place Their Bets

In other news, insider Ingrid Delaet sold 2,261 shares of the company’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $156.71, for a total value of $354,321.31. Following the completion of the sale, the insider owned 16,225 shares in the company, valued at $2,542,619.75. This represents a 12.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Leslie V. Norwalk sold 1,250 shares of the company’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $168.06, for a total value of $210,075.00. Following the completion of the sale, the director owned 2,838 shares of the company’s stock, valued at approximately $476,954.28. This trade represents a 30.58% 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. Over the last 90 days, insiders have sold 355,234 shares of company stock valued at $55,330,060. 4.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Morgan Stanley boosted their price target on Neurocrine Biosciences from $185.00 to $191.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. BMO Capital Markets reduced their price target on Neurocrine Biosciences from $147.00 to $140.00 and set a “market perform” rating for the company in a research report on Thursday, February 12th. Citigroup boosted their price target on Neurocrine Biosciences from $242.00 to $246.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Royal Bank Of Canada boosted their price target on Neurocrine Biosciences from $180.00 to $183.00 and gave the stock an “outperform” rating in a research report on Friday, May 29th. Finally, Leerink Partners boosted their price target on Neurocrine Biosciences from $160.00 to $170.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.