Azzad Asset Management Inc. ADV Acquires New Holdings in Neurocrine Biosciences, Inc. $NBIX

Azzad Asset Management Inc. ADV bought a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 8,946 shares of the company’s stock, valued at approximately $1,256,000.

Other institutional investors have also recently bought and sold shares of the company. Geneos Wealth Management Inc. increased its position in shares of Neurocrine Biosciences by 143.6% during the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after acquiring an additional 135 shares in the last quarter. Golden State Wealth Management LLC increased its holdings in Neurocrine Biosciences by 120.5% during the 3rd quarter. Golden State Wealth Management LLC now owns 183 shares of the company’s stock worth $26,000 after purchasing an additional 100 shares in the last quarter. Eastern Bank bought a new position in Neurocrine Biosciences during the 3rd quarter worth about $27,000. Quent Capital LLC acquired a new stake in shares of Neurocrine Biosciences in the 3rd quarter valued at about $32,000. Finally, MAI Capital Management lifted its holdings in shares of Neurocrine Biosciences by 101.2% in the second quarter. MAI Capital Management now owns 328 shares of the company’s stock valued at $41,000 after purchasing an additional 165 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Needham & Company LLC increased their price objective on Neurocrine Biosciences from $170.00 to $184.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. HC Wainwright raised their price target on shares of Neurocrine Biosciences from $168.00 to $198.00 and gave the stock a “buy” rating in a research note on Wednesday, December 17th. Mizuho lifted their price objective on shares of Neurocrine Biosciences from $146.00 to $175.00 and gave the company a “neutral” rating in a report on Friday, December 12th. JPMorgan Chase & Co. reduced their target price on shares of Neurocrine Biosciences from $179.00 to $177.00 and set an “overweight” rating for the company in a report on Monday, January 12th. Finally, Citigroup raised their target price on shares of Neurocrine Biosciences from $175.00 to $203.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Fifteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $174.00.

Insiders Place Their Bets

In related news, Director George J. Morrow sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $143.37, for a total transaction of $2,150,550.00. Following the transaction, the director directly owned 7,068 shares of the company’s stock, valued at approximately $1,013,339.16. The trade was a 67.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kyle Gano sold 36,400 shares of the stock in a transaction on Friday, January 16th. The shares were sold at an average price of $132.70, for a total value of $4,830,280.00. Following the completion of the sale, the chief executive officer owned 140,407 shares in the company, valued at approximately $18,632,008.90. This trade represents a 20.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 61,966 shares of company stock worth $8,625,166. Company insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Trading Up 2.4%

NASDAQ NBIX opened at $141.20 on Monday. The firm has a market capitalization of $14.08 billion, a P/E ratio of 33.78, a price-to-earnings-growth ratio of 0.66 and a beta of 0.31. The firm’s fifty day moving average price is $142.20 and its two-hundred day moving average price is $140.51. Neurocrine Biosciences, Inc. has a 1 year low of $84.23 and a 1 year high of $160.18.

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.