GW&K Investment Management LLC Trims Stock Holdings in Neurocrine Biosciences, Inc. $NBIX

GW&K Investment Management LLC decreased its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 3.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 576,648 shares of the company’s stock after selling 17,737 shares during the period. GW&K Investment Management LLC owned approximately 0.58% of Neurocrine Biosciences worth $81,787,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. USA Financial Formulas purchased a new position in Neurocrine Biosciences in the 4th quarter worth $25,000. Geneos Wealth Management Inc. raised its stake in Neurocrine Biosciences by 143.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after acquiring an additional 135 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new position in Neurocrine Biosciences in the 3rd quarter worth $49,000. Leonteq Securities AG purchased a new position in Neurocrine Biosciences in the 4th quarter worth $58,000. Finally, Smartleaf Asset Management LLC raised its stake in Neurocrine Biosciences by 112.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 424 shares of the company’s stock worth $59,000 after acquiring an additional 224 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Insider Buying and Selling

In other Neurocrine Biosciences news, 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 value of $5,770,298.14. Following the completion of the transaction, the insider owned 22,374 shares of the company’s stock, valued at approximately $3,495,266.28. The trade was a 62.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kevin Charles Gorman sold 245,088 shares of Neurocrine Biosciences stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $154.33, for a total transaction of $37,824,431.04. Following the completion of the transaction, the director directly owned 511,293 shares of the company’s stock, valued at $78,907,848.69. The trade was a 32.40% 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. Insiders have sold 355,234 shares of company stock valued at $55,330,060 in the last ninety days. Company insiders own 4.60% of the company’s stock.

Neurocrine Biosciences Price Performance

Shares of Neurocrine Biosciences stock opened at $165.24 on Wednesday. The firm has a fifty day moving average price of $144.09 and a 200 day moving average price of $140.05. Neurocrine Biosciences, Inc. has a 1 year low of $122.14 and a 1 year high of $169.57. The stock has a market cap of $16.61 billion, a PE ratio of 25.46, a price-to-earnings-growth ratio of 1.22 and a beta of 0.40.

Analyst Ratings Changes

NBIX has been the subject of a number of research analyst reports. Sanford C. Bernstein assumed coverage on Neurocrine Biosciences in a research note on Friday, May 22nd. They issued an “outperform” rating and a $221.00 target price for the company. Wedbush raised 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. HC Wainwright raised their target price on shares of Neurocrine Biosciences from $192.00 to $215.00 and gave the stock a “buy” rating in a report on Tuesday, April 7th. Truist Financial raised their target price on shares of Neurocrine Biosciences from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Finally, Piper Sandler raised their target price on shares of Neurocrine Biosciences from $190.00 to $207.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Neurocrine Biosciences has an average rating of “Moderate Buy” and an average price target of $187.52.

Neurocrine Biosciences Company 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.