Strs Ohio Grows Holdings in Neurocrine Biosciences, Inc. $NBIX

Strs Ohio grew its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 430.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,316 shares of the company’s stock after acquiring an additional 9,996 shares during the period. Strs Ohio’s holdings in Neurocrine Biosciences were worth $1,623,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Nilsine Partners LLC acquired a new stake in Neurocrine Biosciences in the fourth quarter valued at approximately $1,197,000. Ruffer LLP purchased a new position in shares of Neurocrine Biosciences during the 4th quarter valued at approximately $2,479,000. Korea Investment CORP lifted its position in shares of Neurocrine Biosciences by 94.3% during the 3rd quarter. Korea Investment CORP now owns 71,689 shares of the company’s stock valued at $10,064,000 after buying an additional 34,800 shares in the last quarter. Nordea Investment Management AB grew its stake in Neurocrine Biosciences by 81.3% in the 4th quarter. Nordea Investment Management AB now owns 27,202 shares of the company’s stock valued at $3,834,000 after acquiring an additional 12,195 shares during the period. Finally, CIBC Private Wealth Group LLC grew its stake in Neurocrine Biosciences by 17,250.0% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 7,981 shares of the company’s stock valued at $1,120,000 after acquiring an additional 7,935 shares during the period. 92.59% of the stock is owned by hedge funds and other institutional investors.

Neurocrine Biosciences Trading Up 1.9%

NASDAQ:NBIX opened at $177.49 on Wednesday. The company has a market cap of $17.85 billion, a P/E ratio of 27.35, a P/E/G ratio of 0.69 and a beta of 0.39. Neurocrine Biosciences, Inc. has a twelve month low of $122.14 and a twelve month high of $178.75. The company’s 50-day moving average price is $157.87 and its 200-day moving average price is $142.16.

Insiders Place Their Bets

In other news, Director Stephen A. Sherwin sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was 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 directly owned 15,860 shares in the company, valued at $2,621,975.20. This represents a 61.18% decrease in their ownership of the stock. The transaction 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 Leslie V. Norwalk sold 1,250 shares of Neurocrine Biosciences stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $168.06, for a total value of $210,075.00. Following the transaction, the director owned 2,838 shares in the company, valued at approximately $476,954.28. The trade was a 30.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 365,234 shares of company stock valued at $57,031,540. Insiders own 4.60% of the company’s stock.

Analyst Upgrades and Downgrades

NBIX has been the subject of a number of research analyst reports. Weiss Ratings upgraded shares of Neurocrine Biosciences from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, June 24th. HC Wainwright lifted their target price on shares of Neurocrine Biosciences from $192.00 to $215.00 and gave the company a “buy” rating in a research report on Tuesday, April 7th. Leerink Partners upped their price target on shares of Neurocrine Biosciences from $160.00 to $170.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Piper Sandler raised their price target on shares of Neurocrine Biosciences from $190.00 to $207.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Finally, JPMorgan Chase & Co. lifted their price objective on Neurocrine Biosciences from $177.00 to $185.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $188.10.

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.