Ieq Capital LLC boosted its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX – Free Report) by 7.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 745,113 shares of the company’s stock after purchasing an additional 52,512 shares during the period. Neurocrine Biosciences makes up approximately 0.3% of Ieq Capital LLC’s holdings, making the stock its 29th largest position. Ieq Capital LLC’s holdings in Neurocrine Biosciences were worth $105,679,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Nilsine Partners LLC purchased a new position in shares of Neurocrine Biosciences during the 4th quarter worth $1,197,000. Ruffer LLP purchased a new position in shares of Neurocrine Biosciences during the 4th quarter worth $2,479,000. Korea Investment CORP boosted its stake 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 worth $10,064,000 after acquiring an additional 34,800 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Neurocrine Biosciences by 2.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 202,846 shares of the company’s stock worth $28,476,000 after acquiring an additional 4,807 shares during the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of Neurocrine Biosciences by 81.3% during the 4th quarter. Nordea Investment Management AB now owns 27,202 shares of the company’s stock worth $3,834,000 after acquiring an additional 12,195 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.
Insider Transactions at Neurocrine Biosciences
In other news, insider Jude Onyia sold 11,000 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $160.25, for a total value of $1,762,750.00. Following the sale, the insider directly owned 25,846 shares in the company, valued at $4,141,821.50. The trade was a 29.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at 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 business’s stock in a transaction dated 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 approximately $3,495,266.28. This trade represents a 62.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 355,234 shares of company stock worth $55,330,060. 4.60% of the stock is currently owned by corporate insiders.
Neurocrine Biosciences Stock Down 1.8%
Analysts Set New Price Targets
Several research analysts have recently weighed in on NBIX shares. Wall Street Zen upgraded shares of Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 25th. Zacks Research upgraded shares of Neurocrine Biosciences from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 15th. Needham & Company LLC reiterated a “buy” rating and set a $185.00 price target on shares of Neurocrine Biosciences in a research note on Monday, April 6th. HC Wainwright lifted their price target on shares of Neurocrine Biosciences from $192.00 to $215.00 and gave the stock a “buy” rating in a research note on Tuesday, April 7th. Finally, Weiss Ratings upgraded shares of Neurocrine Biosciences from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Neurocrine Biosciences presently has an average rating of “Moderate Buy” and a consensus target price of $187.52.
Read Our Latest Analysis on NBIX
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.
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