Lazard Asset Management LLC Grows Stock Position in Neurocrine Biosciences, Inc. $NBIX

Lazard Asset Management LLC raised its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 91.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 124,479 shares of the company’s stock after acquiring an additional 59,554 shares during the quarter. Lazard Asset Management LLC owned 0.12% of Neurocrine Biosciences worth $16,399,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. DJE Kapital AG purchased a new position in shares of Neurocrine Biosciences in the fourth quarter valued at $28,000. Geneos Wealth Management Inc. increased its stake in Neurocrine Biosciences by 143.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after buying an additional 135 shares during the period. Meeder Asset Management Inc. increased its stake in Neurocrine Biosciences by 651.6% during the 4th quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock worth $33,000 after buying an additional 202 shares during the period. Cassaday & Co Wealth Management LLC acquired a new position in Neurocrine Biosciences in the 1st quarter worth $33,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Neurocrine Biosciences in the 4th quarter worth $39,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on NBIX. Wall Street Zen upgraded Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 25th. Leerink Partners increased 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. Zacks Research upgraded Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 23rd. Guggenheim lifted their price objective on Neurocrine Biosciences from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. Finally, JPMorgan Chase & Co. upped their target price on Neurocrine Biosciences from $177.00 to $185.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Two investment 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’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $194.05.

Insider Activity

In other Neurocrine Biosciences news, Director Stephen A. Sherwin sold 25,000 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $165.32, for a total transaction of $4,133,000.00. Following the transaction, the director owned 15,860 shares of the company’s stock, valued at $2,621,975.20. This trade represents a 61.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ingrid Delaet sold 4,367 shares of the business’s stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $181.02, for a total value of $790,514.34. Following the completion of the sale, the insider owned 16,225 shares of the company’s stock, valued at $2,937,049.50. This trade represents a 21.21% 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. Insiders have sold a total of 394,172 shares of company stock valued at $62,221,181 over the last three months. Company insiders own 4.60% of the company’s stock.

Neurocrine Biosciences Stock Performance

Shares of NBIX stock opened at $180.79 on Thursday. Neurocrine Biosciences, Inc. has a one year low of $122.14 and a one year high of $183.50. The company’s 50-day simple moving average is $167.01 and its 200-day simple moving average is $145.90. The stock has a market capitalization of $18.18 billion, a price-to-earnings ratio of 27.86, a PEG ratio of 0.77 and a beta of 0.39.

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.