Quantinno Capital Management LP Buys 42,508 Shares of Neurocrine Biosciences, Inc. $NBIX

Quantinno Capital Management LP boosted its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 157.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 69,499 shares of the company’s stock after buying an additional 42,508 shares during the quarter. Quantinno Capital Management LP owned approximately 0.07% of Neurocrine Biosciences worth $9,156,000 at the end of the most recent reporting period.

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

Neurocrine Biosciences News Roundup

Here are the key news stories impacting Neurocrine Biosciences this week:

• Positive Sentiment: Canaccord Genuity raised its price target from $200 to $210 and maintained a Buy rating, implying approximately 26.5% upside. Benzinga article
• Positive Sentiment: Truist Financial increased its target from $200 to $213 and assigned a Buy rating, representing roughly 28.3% potential upside. Benzinga article
• Positive Sentiment: Wedbush lifted its target from $185 to $194 and reiterated an Outperform rating, suggesting approximately 16.8% upside. Benzinga article
• Positive Sentiment: Additional analyst updates raised NBIX price targets to $196, $198, $210, $215, $220, $222, and $249. The breadth of these increases reinforces improving sentiment and may attract additional investor interest. American Banking News report American Banking News report American Banking News report

Insiders Place Their Bets

In other Neurocrine Biosciences news, insider Darin Lippoldt sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $179.60, for a total transaction of $1,796,000.00. Following the completion of the sale, the insider directly owned 54,729 shares in the company, valued at $9,829,328.40. This trade represents a 15.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephen A. Sherwin sold 25,000 shares of the business’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $165.32, for a total value of $4,133,000.00. Following the completion of the sale, the director owned 15,860 shares of the company’s stock, valued at $2,621,975.20. This trade represents a 61.18% 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. Over the last 90 days, insiders sold 395,422 shares of company stock worth $62,448,693. Company insiders own 4.60% of the company’s stock.

Neurocrine Biosciences Stock Performance

Shares of NBIX stock opened at $166.06 on Wednesday. The firm’s 50-day moving average is $168.20 and its 200-day moving average is $146.95. The stock has a market cap of $16.88 billion, a price-to-earnings ratio of 24.35, a PEG ratio of 0.63 and a beta of 0.39. Neurocrine Biosciences, Inc. has a 52-week low of $122.14 and a 52-week high of $186.12.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Zacks Research upgraded shares of Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 23rd. Weiss Ratings upgraded Neurocrine Biosciences from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 28th. BMO Capital Markets boosted their price objective on shares of Neurocrine Biosciences from $144.00 to $170.00 and gave the company a “market perform” rating in a report on Monday, July 13th. Canaccord Genuity Group boosted their target price on Neurocrine Biosciences from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Monday. Finally, TD Cowen increased their price objective on shares of Neurocrine Biosciences from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Neurocrine Biosciences currently has an average rating of “Moderate Buy” and an average target price of $201.50.

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.