Neurocrine Biosciences, Inc. $NBIX Shares Bought by First Trust Advisors LP

First Trust Advisors LP increased its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 97.0% during the first quarter, Holdings Channel reports. The firm owned 959,217 shares of the company’s stock after purchasing an additional 472,408 shares during the period. First Trust Advisors LP’s holdings in Neurocrine Biosciences were worth $126,367,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. AQR Capital Management LLC boosted 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 worth $388,435,000 after buying an additional 1,263,633 shares in the last quarter. Norges Bank acquired a new position in Neurocrine Biosciences in the fourth quarter worth approximately $162,664,000. UBS Group AG increased its holdings 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 valued at $139,494,000 after buying an additional 618,956 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new position in shares of Neurocrine Biosciences in the fourth quarter valued at $65,162,000. Finally, Two Sigma Investments LP acquired a new stake in shares of Neurocrine Biosciences during the 3rd quarter valued at $48,791,000. 92.59% of the stock is owned by institutional investors and hedge funds.

Neurocrine Biosciences Stock Up 0.8%

NBIX opened at $174.15 on Friday. The stock has a fifty day moving average of $165.18 and a 200-day moving average of $144.73. The firm has a market capitalization of $17.51 billion, a P/E ratio of 26.83, a PEG ratio of 0.69 and a beta of 0.39. Neurocrine Biosciences, Inc. has a 12-month low of $122.14 and a 12-month high of $181.18.

Wall Street Analysts Forecast Growth

NBIX has been the subject of several research reports. Zacks Research raised Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 23rd. Canaccord Genuity Group upped their target price on Neurocrine Biosciences from $164.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, April 7th. Wedbush upped their target price on Neurocrine Biosciences from $166.00 to $176.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Guggenheim increased their price target on Neurocrine Biosciences from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Wall Street Zen raised Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 25th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Neurocrine Biosciences has a consensus rating of “Moderate Buy” and an average price target of $194.05.

Insider Activity

In related news, Director Richard F. Pops sold 15,000 shares of the company’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $157.65, for a total transaction of $2,364,750.00. Following the transaction, the director directly owned 34,480 shares of the company’s stock, valued at approximately $5,435,772. The trade was a 30.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kevin Charles Gorman sold 245,088 shares of the stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $154.33, for a total value of $37,824,431.04. Following the completion of the sale, the director directly owned 511,293 shares of the company’s stock, valued at approximately $78,907,848.69. This represents a 32.40% 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 sold 394,172 shares of company stock valued at $62,221,181 in the last ninety days. Corporate insiders own 4.60% of the company’s stock.

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.