The Manufacturers Life Insurance Company Decreases Holdings in Neurocrine Biosciences, Inc. $NBIX

The Manufacturers Life Insurance Company lowered its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 25.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 68,112 shares of the company’s stock after selling 23,498 shares during the period. The Manufacturers Life Insurance Company’s holdings in Neurocrine Biosciences were worth $8,973,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of NBIX. Geneos Wealth Management Inc. raised its holdings in Neurocrine Biosciences by 143.6% during the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after purchasing an additional 135 shares during the last quarter. DJE Kapital AG acquired a new stake in Neurocrine Biosciences in the fourth quarter valued at $28,000. Cassaday & Co Wealth Management LLC purchased a new position in shares of Neurocrine Biosciences in the first quarter valued at $33,000. Meeder Asset Management Inc. increased its position in shares of Neurocrine Biosciences by 651.6% in the fourth quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock valued at $33,000 after buying an additional 202 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Neurocrine Biosciences during the 4th quarter worth $39,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Neurocrine Biosciences

Here are the key news stories impacting Neurocrine Biosciences this week:

• Positive Sentiment: Canaccord Genuity raised its price target from $200 to $210 and maintained a Buy rating, implying approximately 26.5% upside. Benzinga article
• Positive Sentiment: Truist Financial increased its target from $200 to $213 and assigned a Buy rating, representing roughly 28.3% potential upside. Benzinga article
• Positive Sentiment: Wedbush lifted its target from $185 to $194 and reiterated an Outperform rating, suggesting approximately 16.8% upside. Benzinga article
• Positive Sentiment: Additional analyst updates raised NBIX price targets to $196, $198, $210, $215, $220, $222, and $249. The breadth of these increases reinforces improving sentiment and may attract additional investor interest. American Banking News report American Banking News report American Banking News report

Neurocrine Biosciences Trading Down 0.1%

NASDAQ:NBIX opened at $166.06 on Wednesday. Neurocrine Biosciences, Inc. has a 12-month low of $122.14 and a 12-month high of $186.12. The firm has a market cap of $16.88 billion, a price-to-earnings ratio of 24.35, a price-to-earnings-growth ratio of 0.63 and a beta of 0.39. The company’s 50-day moving average is $168.20 and its two-hundred day moving average is $146.95.

Insider Buying and Selling at Neurocrine Biosciences

In related news, insider Julie Cooke sold 36,937 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $156.22, for a total transaction of $5,770,298.14. Following the sale, the insider owned 22,374 shares in the company, valued at approximately $3,495,266.28. This trade represents a 62.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Richard F. Pops sold 15,000 shares of Neurocrine Biosciences stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $157.65, for a total transaction of $2,364,750.00. Following the completion of the sale, the director directly owned 34,480 shares of the company’s stock, valued at $5,435,772. The trade was a 30.32% 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. In the last ninety days, insiders have sold 395,422 shares of company stock valued at $62,448,693. 4.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NBIX. Stifel Nicolaus boosted their price objective on shares of Neurocrine Biosciences from $188.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. The Goldman Sachs Group began coverage on shares of Neurocrine Biosciences in a report on Tuesday, June 2nd. They set a “buy” rating and a $213.00 target price for the company. Sanford C. Bernstein began coverage on shares of Neurocrine Biosciences in a research report on Friday, May 22nd. They set an “outperform” rating and a $221.00 target price for the company. Morgan Stanley increased their price target on shares of Neurocrine Biosciences from $193.00 to $196.00 and gave the company an “equal weight” rating in a research report on Friday, July 31st. Finally, JPMorgan Chase & Co. increased 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. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $201.50.

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.