North Dakota State Investment Board Takes $483,000 Position in Neurocrine Biosciences, Inc. $NBIX

North Dakota State Investment Board bought a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the fourth quarter, Holdings Channel.com reports. The fund bought 3,409 shares of the company’s stock, valued at approximately $483,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nilsine Partners LLC purchased a new stake in Neurocrine Biosciences in the fourth quarter valued at approximately $1,197,000. Ruffer LLP purchased a new stake in Neurocrine Biosciences in the fourth quarter valued at approximately $2,479,000. Korea Investment CORP raised its stake in Neurocrine Biosciences by 94.3% in the third quarter. Korea Investment CORP now owns 71,689 shares of the company’s stock valued at $10,064,000 after purchasing an additional 34,800 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in Neurocrine Biosciences by 2.4% in the third quarter. Envestnet Asset Management Inc. now owns 202,846 shares of the company’s stock valued at $28,476,000 after purchasing an additional 4,807 shares in the last quarter. Finally, CIBC Private Wealth Group LLC raised its stake in Neurocrine Biosciences by 17,250.0% in the third quarter. CIBC Private Wealth Group LLC now owns 7,981 shares of the company’s stock valued at $1,120,000 after purchasing an additional 7,935 shares in the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Leerink Partners raised their target price on shares of Neurocrine Biosciences from $160.00 to $170.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. Guggenheim reaffirmed a “buy” rating and issued a $175.00 target price on shares of Neurocrine Biosciences in a research note on Wednesday, May 6th. Truist Financial raised their target price on shares of Neurocrine Biosciences from $140.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. JPMorgan Chase & Co. raised their target price on shares of Neurocrine Biosciences from $177.00 to $185.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Finally, HC Wainwright raised their target price 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. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Neurocrine Biosciences has a consensus rating of “Moderate Buy” and an average price target of $185.90.

Insiders Place Their Bets

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 245,088 shares of Neurocrine Biosciences stock in a transaction that occurred 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 transaction, the director directly owned 511,293 shares of the company’s stock, valued at approximately $78,907,848.69. This trade represents a 32.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Leslie V. Norwalk sold 3,810 shares of Neurocrine Biosciences stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $155.01, for a total transaction of $590,588.10. Following the transaction, the director directly owned 2,429 shares in the company, valued at $376,519.29. This trade represents a 61.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 263,898 shares of company stock valued at $40,779,769. 4.60% of the stock is currently owned by corporate insiders.

Neurocrine Biosciences Stock Performance

NBIX stock opened at $156.70 on Friday. The company has a market capitalization of $15.76 billion, a PE ratio of 24.14, a price-to-earnings-growth ratio of 1.17 and a beta of 0.34. Neurocrine Biosciences, Inc. has a one year low of $117.59 and a one year high of $162.39. The company’s 50 day moving average price is $136.68 and its two-hundred day moving average price is $138.90.

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.