University of Texas Texas AM Investment Management Co. reduced its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX – Free Report) by 26.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,196 shares of the company’s stock after selling 4,078 shares during the quarter. University of Texas Texas AM Investment Management Co.’s holdings in Neurocrine Biosciences were worth $1,588,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently added to or reduced their stakes in NBIX. AQR Capital Management LLC increased its stake in Neurocrine Biosciences by 83.7% in the third quarter. AQR Capital Management LLC now owns 2,773,648 shares of the company’s stock valued at $388,435,000 after purchasing an additional 1,263,633 shares during the last quarter. Norges Bank acquired a new stake in Neurocrine Biosciences during the fourth quarter worth about $162,664,000. UBS Group AG increased its stake in Neurocrine Biosciences by 169.8% during the fourth quarter. UBS Group AG now owns 983,528 shares of the company’s stock worth $139,494,000 after acquiring an additional 618,956 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Neurocrine Biosciences by 11.0% during the third quarter. JPMorgan Chase & Co. now owns 4,730,152 shares of the company’s stock worth $664,019,000 after acquiring an additional 468,405 shares during the last quarter. Finally, Two Sigma Investments LP acquired a new stake in Neurocrine Biosciences during the third quarter worth about $48,791,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Neurocrine Biosciences
In other news, insider Jude Onyia sold 11,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $160.25, for a total transaction of $1,762,750.00. Following the completion of the sale, the insider directly owned 25,846 shares in the company, valued at $4,141,821.50. This trade represents a 29.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ingrid Delaet sold 2,261 shares of Neurocrine Biosciences stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $156.71, for a total value of $354,321.31. Following the sale, the insider directly owned 16,225 shares in the company, valued at approximately $2,542,619.75. The trade was a 12.23% 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. In 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 insiders.
Neurocrine Biosciences Trading Down 0.2%
Analyst Ratings Changes
Several equities research analysts have commented on NBIX shares. Wolfe Research started coverage on Neurocrine Biosciences in a research note on Tuesday, February 24th. They set an “outperform” rating and a $160.00 price target for the company. Royal Bank Of Canada upped their price target on Neurocrine Biosciences from $180.00 to $183.00 and gave the stock an “outperform” rating in a research note on Friday, May 29th. Morgan Stanley upped their price target on Neurocrine Biosciences from $185.00 to $191.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. Citigroup raised their price objective on Neurocrine Biosciences from $242.00 to $246.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Finally, Zacks Research upgraded Neurocrine Biosciences from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $187.52.
View Our Latest Analysis on Neurocrine Biosciences
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.
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