Collaborative Fund Advisors LLC Makes New Investment in Neurocrine Biosciences, Inc. $NBIX

Collaborative Fund Advisors LLC purchased a new position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 3,293 shares of the company’s stock, valued at approximately $434,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. AQR Capital Management LLC increased its position in Neurocrine Biosciences by 83.7% during the 3rd quarter. AQR Capital Management LLC now owns 2,773,648 shares of the company’s stock worth $388,435,000 after purchasing an additional 1,263,633 shares in the last quarter. Norges Bank purchased a new position in Neurocrine Biosciences in the 4th quarter valued at about $162,664,000. UBS Group AG boosted its stake in shares of Neurocrine Biosciences by 169.8% during the 4th quarter. UBS Group AG now owns 983,528 shares of the company’s stock worth $139,494,000 after purchasing an additional 618,956 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in shares of Neurocrine Biosciences during the 4th 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. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on NBIX shares. Guggenheim reissued a “buy” rating and issued a $175.00 price objective on shares of Neurocrine Biosciences in a research report on Wednesday, May 6th. Morgan Stanley raised their target price on shares of Neurocrine Biosciences from $185.00 to $191.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Leerink Partners boosted their price target on Neurocrine Biosciences from $160.00 to $170.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. Wall Street Zen raised Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 25th. Finally, Citigroup increased their price target on Neurocrine Biosciences from $242.00 to $246.00 and gave the stock a “buy” rating in a research note 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 issued a Hold rating to the company. According to MarketBeat, Neurocrine Biosciences has a consensus rating of “Moderate Buy” and a consensus target price of $187.52.

Neurocrine Biosciences Price Performance

NBIX stock opened at $174.26 on Monday. The company has a market cap of $17.52 billion, a price-to-earnings ratio of 26.85, a PEG ratio of 0.69 and a beta of 0.39. The business has a fifty day simple moving average of $155.99 and a 200-day simple moving average of $141.73. Neurocrine Biosciences, Inc. has a 52 week low of $122.14 and a 52 week high of $174.38.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 245,088 shares of the business’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $154.33, for a total transaction of $37,824,431.04. Following the completion of the sale, the director owned 511,293 shares of the company’s stock, valued at approximately $78,907,848.69. The trade was a 32.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 value of $2,364,750.00. Following the sale, the director owned 34,480 shares of the company’s stock, valued at $5,435,772. This represents a 30.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 365,234 shares of company stock valued at $57,031,540 in the last ninety days. Company 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.