Oppenheimer Asset Management Inc. Buys Shares of 14,783 Neurocrine Biosciences, Inc. $NBIX

Oppenheimer Asset Management Inc. purchased a new stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 14,783 shares of the company’s stock, valued at approximately $2,491,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of NBIX. NewEdge Advisors LLC increased its position in Neurocrine Biosciences by 0.5% during the first quarter. NewEdge Advisors LLC now owns 13,066 shares of the company’s stock valued at $1,721,000 after acquiring an additional 68 shares during the last quarter. Huntington National Bank lifted its holdings in Neurocrine Biosciences by 12.6% in the fourth quarter. Huntington National Bank now owns 678 shares of the company’s stock valued at $96,000 after acquiring an additional 76 shares during the period. Motley Fool Asset Management LLC boosted its position in Neurocrine Biosciences by 4.8% in the fourth quarter. Motley Fool Asset Management LLC now owns 1,693 shares of the company’s stock worth $240,000 after purchasing an additional 78 shares during the last quarter. Main Management ETF Advisors LLC boosted its position in Neurocrine Biosciences by 1.0% in the fourth quarter. Main Management ETF Advisors LLC now owns 7,830 shares of the company’s stock worth $1,111,000 after purchasing an additional 80 shares during the last quarter. Finally, Westpac Banking Corp grew its stake in shares of Neurocrine Biosciences by 6.0% during the 1st quarter. Westpac Banking Corp now owns 1,615 shares of the company’s stock valued at $213,000 after purchasing an additional 91 shares during the period. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Neurocrine Biosciences Stock Performance

NBIX opened at $152.72 on Monday. The stock has a market cap of $15.52 billion, a price-to-earnings ratio of 22.39, a price-to-earnings-growth ratio of 0.67 and a beta of 0.39. The firm’s fifty day moving average is $167.98 and its 200 day moving average is $148.33. Neurocrine Biosciences, Inc. has a fifty-two week low of $122.14 and a fifty-two week high of $186.12.

Insiders Place Their Bets

In other news, insider Darin Lippoldt sold 10,000 shares of the company’s stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $179.60, for a total value of $1,796,000.00. Following the completion of the transaction, the insider owned 54,729 shares of the company’s stock, valued at $9,829,328.40. This represents a 15.45% 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, insider Ingrid Delaet sold 4,367 shares of the stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $181.02, for a total value of $790,514.34. Following the sale, the insider owned 16,225 shares of the company’s stock, valued at $2,937,049.50. This represents a 21.21% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 376,612 shares of company stock valued at $59,493,355 in the last ninety days. Insiders own 4.60% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of Neurocrine Biosciences from $177.00 to $185.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Citigroup raised their price objective on shares of Neurocrine Biosciences from $246.00 to $249.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Wedbush boosted their target price on shares of Neurocrine Biosciences from $185.00 to $194.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. Stifel Nicolaus boosted their target price on shares of Neurocrine Biosciences from $188.00 to $215.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Finally, Guggenheim upped their target price on shares of Neurocrine Biosciences from $200.00 to $222.00 and gave the company a “buy” rating in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $200.86.

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.