Neurocrine Biosciences, Inc. $NBIX Stock Position Decreased by Profund Advisors LLC

Profund Advisors LLC cut its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 20.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,069 shares of the company’s stock after selling 3,657 shares during the period. Profund Advisors LLC’s holdings in Neurocrine Biosciences were worth $1,975,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Allspring Global Investments Holdings LLC boosted its position in Neurocrine Biosciences by 15.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 447,900 shares of the company’s stock valued at $57,331,000 after purchasing an additional 60,094 shares during the last quarter. Assetmark Inc. lifted its holdings in shares of Neurocrine Biosciences by 10.8% during the 2nd quarter. Assetmark Inc. now owns 21,001 shares of the company’s stock valued at $2,640,000 after buying an additional 2,045 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Neurocrine Biosciences by 87.9% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 125,162 shares of the company’s stock valued at $15,732,000 after buying an additional 58,562 shares in the last quarter. Saturn V Capital Management LP acquired a new position in Neurocrine Biosciences in the second quarter worth approximately $7,313,000. Finally, Capital Fund Management S.A. raised its position in Neurocrine Biosciences by 15.9% during the second quarter. Capital Fund Management S.A. now owns 203,628 shares of the company’s stock valued at $25,594,000 after acquiring an additional 27,987 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on NBIX shares. Mizuho increased their price target on shares of Neurocrine Biosciences from $146.00 to $175.00 and gave the stock a “neutral” rating in a research note on Friday, December 12th. Needham & Company LLC increased their target price on shares of Neurocrine Biosciences from $170.00 to $184.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Citigroup raised their target price on Neurocrine Biosciences from $175.00 to $203.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Wall Street Zen upgraded Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Finally, Zacks Research downgraded Neurocrine Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Fifteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.00.

Neurocrine Biosciences Stock Down 1.2%

Shares of NASDAQ:NBIX opened at $139.56 on Tuesday. The company has a market cap of $13.92 billion, a price-to-earnings ratio of 33.39, a PEG ratio of 0.66 and a beta of 0.31. The business has a 50 day moving average price of $141.98 and a 200 day moving average price of $140.57. Neurocrine Biosciences, Inc. has a twelve month low of $84.23 and a twelve month high of $160.18.

Insider Activity at Neurocrine Biosciences

In other news, Director George J. Morrow sold 15,000 shares of the business’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $143.37, for a total transaction of $2,150,550.00. Following the transaction, the director owned 7,068 shares in the company, valued at approximately $1,013,339.16. The trade was a 67.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Leslie V. Norwalk sold 1,190 shares of the company’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $155.09, for a total transaction of $184,557.10. Following the transaction, the director directly owned 6,239 shares of the company’s stock, valued at $967,606.51. This represents a 16.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 61,966 shares of company stock valued at $8,625,166 in the last quarter. Company insiders own 4.30% of the company’s stock.

Neurocrine Biosciences 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.