Moran Wealth Management LLC Takes Position in Neurocrine Biosciences, Inc. $NBIX

Moran Wealth Management LLC bought a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the first quarter, Holdings Channel.com reports. The institutional investor bought 23,506 shares of the company’s stock, valued at approximately $3,097,000.

A number of other institutional investors have also added to or reduced their stakes in NBIX. Nilsine Partners LLC bought a new stake in shares of Neurocrine Biosciences in the 4th quarter worth approximately $1,197,000. Ruffer LLP bought a new position in shares of Neurocrine Biosciences during the 4th quarter valued at $2,479,000. Korea Investment CORP grew its holdings in shares of Neurocrine Biosciences by 94.3% during the 3rd 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 during the last quarter. Nordea Investment Management AB raised its position in Neurocrine Biosciences by 81.3% in the 4th quarter. Nordea Investment Management AB now owns 27,202 shares of the company’s stock worth $3,834,000 after purchasing an additional 12,195 shares during the period. Finally, CIBC Private Wealth Group LLC raised its position in Neurocrine Biosciences by 17,250.0% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 7,981 shares of the company’s stock worth $1,120,000 after purchasing an additional 7,935 shares during the period. 92.59% of the stock is owned by institutional investors and hedge funds.

Neurocrine Biosciences Stock Performance

NASDAQ:NBIX opened at $174.26 on Monday. The company has a 50-day moving average price of $155.99 and a 200-day moving average price of $141.73. The stock has a market cap of $17.52 billion, a price-to-earnings ratio of 26.85, a P/E/G 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 $174.38.

Insider Buying and Selling

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 stock was sold at an average price of $154.33, for a total transaction of $37,824,431.04. Following the sale, the director directly owned 511,293 shares of the company’s stock, valued at approximately $78,907,848.69. The trade was a 32.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jude Onyia sold 11,000 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $160.25, for a total value of $1,762,750.00. Following the transaction, the insider owned 25,846 shares in the company, valued at $4,141,821.50. This trade represents a 29.85% decrease in their position. 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 sold 365,234 shares of company stock valued at $57,031,540 over the last quarter. 4.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have issued reports on NBIX shares. Canaccord Genuity Group raised their price objective on Neurocrine Biosciences from $164.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, April 7th. Weiss Ratings upgraded Neurocrine Biosciences from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, June 24th. Wall Street Zen raised Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 25th. Royal Bank Of Canada increased their price objective on Neurocrine Biosciences from $180.00 to $183.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. Finally, JPMorgan Chase & Co. raised their target price on shares of Neurocrine Biosciences from $177.00 to $185.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Neurocrine Biosciences presently has an average rating of “Moderate Buy” and a consensus target price of $187.52.

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.