Neurocrine Biosciences, Inc. $NBIX Shares Acquired by Sei Investments Co.

Sei Investments Co. increased its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 31.1% during the 1st quarter, HoldingsChannel reports. The firm owned 235,251 shares of the company’s stock after acquiring an additional 55,854 shares during the period. Sei Investments Co.’s holdings in Neurocrine Biosciences were worth $30,992,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Royal Bank of Canada lifted its stake in Neurocrine Biosciences by 36.7% in the first quarter. Royal Bank of Canada now owns 82,810 shares of the company’s stock valued at $9,158,000 after buying an additional 22,224 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Neurocrine Biosciences by 60.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,783 shares of the company’s stock valued at $1,647,000 after acquiring an additional 5,577 shares during the period. NewEdge Advisors LLC grew its position in shares of Neurocrine Biosciences by 56.3% during the first quarter. NewEdge Advisors LLC now owns 7,630 shares of the company’s stock worth $844,000 after acquiring an additional 2,747 shares during the last quarter. Empowered Funds LLC acquired a new stake in shares of Neurocrine Biosciences in the 1st quarter worth about $1,333,000. Finally, Geneos Wealth Management Inc. increased its holdings in shares of Neurocrine Biosciences by 143.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after acquiring an additional 135 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Insider Transactions at Neurocrine Biosciences

In other news, insider Darin Lippoldt sold 10,000 shares of the firm’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $179.60, for a total transaction of $1,796,000.00. Following the completion of the transaction, the insider owned 54,729 shares in the company, valued at approximately $9,829,328.40. This trade represents a 15.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Leslie V. Norwalk sold 1,250 shares of Neurocrine Biosciences stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $168.06, for a total transaction of $210,075.00. Following the completion of the transaction, the director directly owned 2,838 shares in the company, valued at $476,954.28. This represents a 30.58% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 394,172 shares of company stock valued at $62,221,181 in the last quarter. 4.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Sanford C. Bernstein started coverage on shares of Neurocrine Biosciences in a research note on Friday, May 22nd. They set an “outperform” rating and a $221.00 target price for the company. 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. Truist Financial lifted their price target on Neurocrine Biosciences from $155.00 to $200.00 and gave the company a “buy” rating in a report on Monday, July 13th. Leerink Partners boosted their price objective on Neurocrine Biosciences from $160.00 to $170.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Finally, Citigroup increased their price objective on Neurocrine Biosciences from $242.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $194.05.

Neurocrine Biosciences Stock Up 0.4%

Shares of Neurocrine Biosciences stock opened at $176.41 on Tuesday. The business has a fifty day simple moving average of $165.91 and a 200-day simple moving average of $145.29. Neurocrine Biosciences, Inc. has a fifty-two week low of $122.14 and a fifty-two week high of $181.18. The firm has a market cap of $17.74 billion, a price-to-earnings ratio of 27.18, a price-to-earnings-growth ratio of 0.74 and a beta of 0.39.

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.