Neurocrine Biosciences, Inc. $NBIX Stake Raised by Empowered Funds LLC

Empowered Funds LLC boosted its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 1,823.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 83,971 shares of the company’s stock after acquiring an additional 79,605 shares during the quarter. Empowered Funds LLC owned 0.08% of Neurocrine Biosciences worth $11,062,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Geneos Wealth Management Inc. grew its position in Neurocrine Biosciences by 143.6% during the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after purchasing an additional 135 shares in the last quarter. DJE Kapital AG purchased a new stake in Neurocrine Biosciences in the 4th quarter worth approximately $28,000. Meeder Asset Management Inc. lifted its position in Neurocrine Biosciences by 651.6% in the 4th quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock worth $33,000 after buying an additional 202 shares in the last quarter. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Neurocrine Biosciences during the 1st quarter valued at $33,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Neurocrine Biosciences during the 4th quarter valued at $39,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NBIX. Leerink Partners upped their price target on shares of Neurocrine Biosciences from $160.00 to $170.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 22nd. Sanford C. Bernstein started coverage on Neurocrine Biosciences in a research report on Friday, May 22nd. They set an “outperform” rating and a $221.00 price objective for the company. Wall Street Zen upgraded Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 25th. Morgan Stanley upped their target price on Neurocrine Biosciences from $185.00 to $191.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Finally, The Goldman Sachs Group started coverage on Neurocrine Biosciences in a research note on Tuesday, June 2nd. They set a “buy” rating and a $213.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $194.05.

Neurocrine Biosciences Trading Up 2.6%

Neurocrine Biosciences stock opened at $185.50 on Friday. Neurocrine Biosciences, Inc. has a 1-year low of $122.14 and a 1-year high of $186.12. The firm’s fifty day simple moving average is $167.61 and its 200-day simple moving average is $146.25. The company has a market capitalization of $18.65 billion, a P/E ratio of 28.58, a P/E/G ratio of 0.76 and a beta of 0.39.

Insider Activity

In other news, Director Richard F. Pops sold 15,000 shares of the company’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $157.65, for a total transaction of $2,364,750.00. Following the completion of the sale, the director owned 34,480 shares in the company, valued at approximately $5,435,772. This represents a 30.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jude Onyia sold 11,000 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $160.25, for a total value of $1,762,750.00. Following the transaction, the insider directly owned 25,846 shares in the company, valued at approximately $4,141,821.50. This represents a 29.85% decrease in their position. 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. Over the last three months, insiders sold 395,422 shares of company stock valued at $62,448,693. Corporate insiders own 4.60% of the company’s stock.

About Neurocrine Biosciences

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.