Paragon Capital Management Inc. Buys New Shares in Neurocrine Biosciences, Inc. $NBIX

Paragon Capital Management Inc. bought a new position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the 1st quarter, Holdings Channel.com reports. The fund bought 9,954 shares of the company’s stock, valued at approximately $1,311,000. Neurocrine Biosciences makes up 1.1% of Paragon Capital Management Inc.’s holdings, making the stock its 23rd biggest position.

A number of other institutional investors have also bought and sold shares of NBIX. AQR Capital Management LLC raised its holdings in Neurocrine Biosciences by 83.7% during the third quarter. AQR Capital Management LLC now owns 2,773,648 shares of the company’s stock valued at $388,435,000 after acquiring an additional 1,263,633 shares during the period. Norges Bank bought a new position in shares of Neurocrine Biosciences in the fourth quarter worth about $162,664,000. UBS Group AG boosted its stake in shares of Neurocrine Biosciences by 169.8% in the fourth quarter. UBS Group AG now owns 983,528 shares of the company’s stock worth $139,494,000 after acquiring an additional 618,956 shares during the period. Zurich Insurance Group Ltd FI purchased a new stake in shares of Neurocrine Biosciences during the fourth quarter worth about $65,162,000. Finally, Two Sigma Investments LP purchased a new stake in shares of Neurocrine Biosciences during the third quarter worth about $48,791,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Insiders Place Their Bets

In other news, Director Stephen A. Sherwin sold 25,000 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $165.32, for a total transaction of $4,133,000.00. Following the completion of the transaction, the director directly owned 15,860 shares in the company, valued at approximately $2,621,975.20. This represents a 61.18% decrease in their position. The transaction 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 Leslie V. Norwalk sold 1,250 shares of the firm’s stock in a transaction on Thursday, June 4th. The shares were 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 of the company’s stock, valued at approximately $476,954.28. This trade represents a 30.58% 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. Over the last quarter, insiders have sold 355,234 shares of company stock worth $55,330,060. Insiders own 4.60% of the company’s stock.

Neurocrine Biosciences Trading Up 2.1%

NASDAQ:NBIX opened at $161.62 on Tuesday. The business’s 50-day moving average is $149.13 and its 200 day moving average is $140.84. Neurocrine Biosciences, Inc. has a 12 month low of $122.14 and a 12 month high of $169.57. The company has a market capitalization of $16.25 billion, a P/E ratio of 24.90, a P/E/G ratio of 1.19 and a beta of 0.39.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NBIX. Truist Financial lifted their target price on Neurocrine Biosciences from $140.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Royal Bank Of Canada increased their price objective on shares of Neurocrine Biosciences from $180.00 to $183.00 and gave the company an “outperform” rating in a report on Friday, May 29th. Zacks Research upgraded shares of Neurocrine Biosciences from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 15th. Wedbush boosted their target price on shares of Neurocrine Biosciences from $166.00 to $176.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. Finally, Sanford C. Bernstein started coverage on shares of Neurocrine Biosciences in a research report on Friday, May 22nd. They set an “outperform” rating and a $221.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $187.52.

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.