Neurocrine Biosciences, Inc. $NBIX Shares Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. grew its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 134.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,587 shares of the company’s stock after buying an additional 28,979 shares during the quarter. Edgestream Partners L.P. owned 0.05% of Neurocrine Biosciences worth $6,664,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Huntington National Bank raised its position in Neurocrine Biosciences by 12.6% in the fourth quarter. Huntington National Bank now owns 678 shares of the company’s stock valued at $96,000 after purchasing an additional 76 shares during the period. Perigon Wealth Management LLC boosted its position in shares of Neurocrine Biosciences by 3.1% in the fourth quarter. Perigon Wealth Management LLC now owns 2,590 shares of the company’s stock worth $367,000 after buying an additional 78 shares during the period. Motley Fool Asset Management LLC boosted its position in shares of Neurocrine Biosciences by 4.8% in the fourth quarter. Motley Fool Asset Management LLC now owns 1,693 shares of the company’s stock worth $240,000 after buying an additional 78 shares during the period. Main Management ETF Advisors LLC grew its stake in shares of Neurocrine Biosciences by 1.0% in the fourth quarter. Main Management ETF Advisors LLC now owns 7,830 shares of the company’s stock valued at $1,111,000 after buying an additional 80 shares in the last quarter. Finally, Signaturefd LLC grew its stake in shares of Neurocrine Biosciences by 4.5% in the fourth quarter. Signaturefd LLC now owns 1,925 shares of the company’s stock valued at $273,000 after buying an additional 83 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Neurocrine Biosciences Stock Up 2.6%

NBIX stock opened at $185.50 on Friday. The stock’s 50 day moving average is $167.61 and its two-hundred day moving average is $146.25. Neurocrine Biosciences, Inc. has a 52-week low of $122.14 and a 52-week high of $186.12. The company has a market capitalization of $18.65 billion, a PE ratio of 28.58, a P/E/G ratio of 0.76 and a beta of 0.39.

Insiders Place Their Bets

In other news, Director Richard F. Pops sold 15,000 shares of Neurocrine Biosciences stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $157.65, for a total value of $2,364,750.00. Following the completion of the transaction, the director owned 34,480 shares in the company, valued at approximately $5,435,772. This trade represents a 30.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kevin Charles Gorman sold 245,088 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $154.33, for a total value of $37,824,431.04. Following the completion of the sale, the director owned 511,293 shares of the company’s stock, valued at $78,907,848.69. This trade represents a 32.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 395,422 shares of company stock valued at $62,448,693. 4.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on NBIX. HC Wainwright upped their price target on Neurocrine Biosciences from $192.00 to $215.00 and gave the stock a “buy” rating in a report on Tuesday, April 7th. Morgan Stanley lifted their price objective on shares of Neurocrine Biosciences from $185.00 to $191.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Wall Street Zen raised shares of Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 25th. Leerink Partners upped their target price on shares of Neurocrine Biosciences from $160.00 to $170.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. Finally, Wells Fargo & Company raised their price target on shares of Neurocrine Biosciences from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, July 17th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $194.05.

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.