Element Capital Management LLC Takes $995,000 Position in Neurocrine Biosciences, Inc. $NBIX

Element Capital Management LLC purchased a new stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,017 shares of the company’s stock, valued at approximately $995,000.

A number of other large investors have also made changes to their positions in the company. USA Financial Formulas acquired a new position in Neurocrine Biosciences in the 4th quarter valued at approximately $25,000. DJE Kapital AG acquired a new position in Neurocrine Biosciences in the 4th quarter valued at approximately $28,000. Geneos Wealth Management Inc. increased 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 valued at $25,000 after buying an additional 135 shares during the period. Meeder Asset Management Inc. increased its stake in Neurocrine Biosciences by 651.6% in the 4th quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock valued at $33,000 after buying an additional 202 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Neurocrine Biosciences in the 4th quarter valued at approximately $39,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

Neurocrine Biosciences Stock Up 1.6%

NBIX stock opened at $159.00 on Thursday. The company has a market capitalization of $15.99 billion, a price-to-earnings ratio of 24.50, a P/E/G ratio of 1.17 and a beta of 0.40. Neurocrine Biosciences, Inc. has a 12 month low of $122.14 and a 12 month high of $169.57. The firm has a 50 day moving average of $147.48 and a two-hundred day moving average of $140.68.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Sanford C. Bernstein assumed coverage on shares of Neurocrine Biosciences in a research note on Friday, May 22nd. They issued an “outperform” rating and a $221.00 price objective on the stock. Weiss Ratings upgraded shares of Neurocrine Biosciences from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, June 3rd. HC Wainwright upped their price objective on shares of Neurocrine Biosciences from $192.00 to $215.00 and gave the company a “buy” rating in a research note on Tuesday, April 7th. 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. Finally, Citigroup upped their price objective on shares of Neurocrine Biosciences from $242.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have given 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.

Insider Buying and Selling

In other Neurocrine Biosciences news, Director Stephen A. Sherwin sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $165.32, for a total value of $4,133,000.00. Following the completion of the sale, the director directly owned 15,860 shares of the company’s stock, valued at $2,621,975.20. The trade was a 61.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Leslie V. Norwalk sold 1,250 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $168.06, for a total transaction of $210,075.00. Following the completion of the sale, the director directly owned 2,838 shares of the company’s stock, valued at $476,954.28. This 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 three months, insiders sold 355,234 shares of company stock valued at $55,330,060. 4.60% of the stock is owned by company insiders.

Neurocrine Biosciences 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.