Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Stake Lifted by Trust Point Inc.

Trust Point Inc. increased its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 28.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,483 shares of the company’s stock after acquiring an additional 548 shares during the period. Trust Point Inc.’s holdings in Neurocrine Biosciences were worth $339,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Cetera Investment Advisers boosted its holdings in Neurocrine Biosciences by 7.9% during the second quarter. Cetera Investment Advisers now owns 7,112 shares of the company’s stock worth $979,000 after buying an additional 519 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in Neurocrine Biosciences during the second quarter worth approximately $510,000. Handelsbanken Fonder AB boosted its holdings in Neurocrine Biosciences by 20.7% during the third quarter. Handelsbanken Fonder AB now owns 26,867 shares of the company’s stock worth $3,096,000 after buying an additional 4,600 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Neurocrine Biosciences by 11.9% during the third quarter. GAMMA Investing LLC now owns 1,738 shares of the company’s stock worth $200,000 after buying an additional 185 shares in the last quarter. Finally, CWM LLC boosted its holdings in Neurocrine Biosciences by 15.1% during the third quarter. CWM LLC now owns 7,884 shares of the company’s stock worth $908,000 after buying an additional 1,035 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on NBIX. StockNews.com cut shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st. Piper Sandler reaffirmed an “overweight” rating and issued a $160.00 price objective on shares of Neurocrine Biosciences in a research note on Monday, December 23rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Neurocrine Biosciences in a research note on Friday, December 20th. UBS Group raised their price objective on shares of Neurocrine Biosciences from $162.00 to $176.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Finally, Raymond James reaffirmed an “outperform” rating and issued a $155.00 price objective on shares of Neurocrine Biosciences in a research note on Thursday, October 10th. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Neurocrine Biosciences currently has a consensus rating of “Moderate Buy” and an average target price of $166.85.

Insider Activity

In other news, insider Ingrid Delaet sold 623 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $149.29, for a total transaction of $93,007.67. Following the transaction, the insider now owns 3,442 shares in the company, valued at approximately $513,856.18. This trade represents a 15.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kevin Charles Gorman sold 146,105 shares of Neurocrine Biosciences stock in a transaction on Monday, January 27th. The stock was sold at an average price of $149.46, for a total transaction of $21,836,853.30. Following the completion of the transaction, the director now owns 514,596 shares in the company, valued at $76,911,518.16. This trade represents a 22.11 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 222,693 shares of company stock worth $32,718,279. 4.30% of the stock is owned by corporate insiders.

Neurocrine Biosciences Trading Down 0.8 %

Neurocrine Biosciences stock opened at $151.20 on Thursday. The company has a market capitalization of $15.31 billion, a P/E ratio of 40.54 and a beta of 0.33. The firm’s fifty day simple moving average is $137.92 and its 200-day simple moving average is $131.51. Neurocrine Biosciences, Inc. has a 1-year low of $110.95 and a 1-year high of $157.98.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, neuroendocrine, and neuropsychiatric disorders in the United States and internationally. The company’s products include INGREZZA for tardive dyskinesia and chorea associated with Huntington’s disease; ALKINDI for adrenal insufficiency; Efmody capsules for classic congenital adrenal hyperplasia; Orilissa tablets for endometriosis; and Oriahnn capsules to treat uterine fibroids.