Los Angeles Capital Management LLC Raises Stock Position in Neurocrine Biosciences, Inc. $NBIX

Los Angeles Capital Management LLC raised its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 7.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,291,278 shares of the company’s stock after acquiring an additional 88,522 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Neurocrine Biosciences were worth $178,248,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. JPMorgan Chase & Co. boosted its stake in shares of Neurocrine Biosciences by 11.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,730,152 shares of the company’s stock worth $664,019,000 after acquiring an additional 468,405 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of 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 acquiring an additional 1,263,633 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Neurocrine Biosciences by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 2,059,282 shares of the company’s stock worth $291,342,000 after acquiring an additional 34,457 shares during the last quarter. Deerfield Management Company L.P. boosted its stake in shares of Neurocrine Biosciences by 1.4% during the 3rd quarter. Deerfield Management Company L.P. now owns 1,184,345 shares of the company’s stock worth $166,258,000 after acquiring an additional 16,543 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Neurocrine Biosciences during the 4th quarter worth $162,664,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Stock Performance

NBIX opened at $163.88 on Friday. Neurocrine Biosciences, Inc. has a fifty-two week low of $122.14 and a fifty-two week high of $169.57. The firm’s fifty day moving average is $142.73 and its 200 day moving average is $139.71. The stock has a market cap of $16.48 billion, a price-to-earnings ratio of 25.25, a price-to-earnings-growth ratio of 1.23 and a beta of 0.40.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and set a $185.00 price target on shares of Neurocrine Biosciences in a research note on Monday, April 6th. Canaccord Genuity Group lifted their price target on shares of Neurocrine Biosciences from $164.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, April 7th. Zacks Research upgraded shares of Neurocrine Biosciences from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 15th. Wells Fargo & Company dropped their price target on shares of Neurocrine Biosciences from $180.00 to $175.00 and set an “overweight” rating on the stock in a research note on Friday, February 13th. Finally, 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. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Neurocrine Biosciences presently has a consensus rating of “Moderate Buy” and an average price target of $187.52.

Insider Activity at Neurocrine Biosciences

In related news, insider David W. Boyer sold 3,888 shares of Neurocrine Biosciences stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $156.64, for a total transaction of $609,016.32. Following the transaction, the insider owned 7,799 shares in the company, valued at approximately $1,221,635.36. The trade was a 33.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Julie Cooke sold 36,937 shares of Neurocrine Biosciences stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $156.22, for a total transaction of $5,770,298.14. Following the completion of the sale, the insider owned 22,374 shares in the company, valued at approximately $3,495,266.28. This represents a 62.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 328,984 shares of company stock worth $50,986,985 in the last 90 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.