Neurocrine Biosciences, Inc. $NBIX Shares Purchased by Swiss National Bank

Swiss National Bank increased its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 7.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 292,600 shares of the company’s stock after buying an additional 20,800 shares during the quarter. Swiss National Bank owned 0.29% of Neurocrine Biosciences worth $38,547,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. AQR Capital Management LLC raised its stake in Neurocrine Biosciences by 83.7% in the third quarter. AQR Capital Management LLC now owns 2,773,648 shares of the company’s stock valued at $388,435,000 after buying an additional 1,263,633 shares during the last quarter. Norges Bank acquired a new position in shares of Neurocrine Biosciences during the fourth quarter valued at about $162,664,000. UBS Group AG raised its position in shares of Neurocrine Biosciences by 169.8% in the 4th quarter. UBS Group AG now owns 983,528 shares of the company’s stock valued at $139,494,000 after purchasing an additional 618,956 shares during the last quarter. Zurich Insurance Group Ltd FI purchased a new position in shares of Neurocrine Biosciences in the 4th quarter valued at approximately $65,162,000. Finally, Two Sigma Investments LP acquired a new stake in Neurocrine Biosciences in the 3rd quarter worth approximately $48,791,000. 92.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in on NBIX shares. HC Wainwright boosted their target price on shares of Neurocrine Biosciences from $192.00 to $215.00 and gave the stock a “buy” rating in a research report on Tuesday, April 7th. Sanford C. Bernstein assumed coverage on shares of Neurocrine Biosciences in a report on Friday, May 22nd. They issued an “outperform” rating and a $221.00 price target for the company. Piper Sandler lifted their price objective on shares of Neurocrine Biosciences from $190.00 to $207.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Wedbush upped their target price on Neurocrine Biosciences from $166.00 to $176.00 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. Finally, Morgan Stanley upped their target price on Neurocrine Biosciences from $185.00 to $191.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $194.05.

Insider Activity

In other Neurocrine Biosciences news, Director Richard F. Pops sold 15,000 shares of the company’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $157.65, for a total value of $2,364,750.00. Following the sale, the director directly owned 34,480 shares of the company’s stock, valued at approximately $5,435,772. This represents a 30.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Julie Cooke sold 36,937 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $156.22, for a total value of $5,770,298.14. Following the sale, the insider directly owned 22,374 shares in the company, valued at $3,495,266.28. This represents a 62.28% 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 quarter. Insiders own 4.60% of the company’s stock.

Neurocrine Biosciences Trading Down 3.6%

Shares of NASDAQ:NBIX opened at $172.69 on Thursday. Neurocrine Biosciences, Inc. has a twelve month low of $122.14 and a twelve month high of $181.18. The company has a market cap of $17.36 billion, a PE ratio of 26.61, a price-to-earnings-growth ratio of 0.71 and a beta of 0.39. The company’s 50 day moving average is $164.88 and its 200 day moving average is $144.50.

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.