Quantinno Capital Management LP Purchases 42,508 Shares of Neurocrine Biosciences, Inc. $NBIX

Quantinno Capital Management LP increased its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 157.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 69,499 shares of the company’s stock after acquiring an additional 42,508 shares during the period. Quantinno Capital Management LP’s holdings in Neurocrine Biosciences were worth $9,156,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the business. DJE Kapital AG acquired a new stake in shares of Neurocrine Biosciences in the 4th quarter valued at approximately $28,000. Geneos Wealth Management Inc. grew its stake in shares of Neurocrine Biosciences by 143.6% in 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. Meeder Asset Management Inc. increased its stake 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 during the period. Cassaday & Co Wealth Management LLC acquired a new stake in Neurocrine Biosciences during the 1st quarter valued at approximately $33,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Neurocrine Biosciences during the fourth quarter worth $39,000. 92.59% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NBIX. Canaccord Genuity Group lifted their target price on Neurocrine Biosciences from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Monday. Zacks Research raised shares of Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 23rd. Weiss Ratings raised Neurocrine Biosciences from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, July 28th. Needham & Company LLC increased their price objective on shares of Neurocrine Biosciences from $200.00 to $204.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Finally, Leerink Partners raised their target price on Neurocrine Biosciences from $160.00 to $170.00 and gave the company an “outperform” rating in a research report on Wednesday, April 22nd. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $201.50.

More Neurocrine Biosciences News

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

Insiders Place Their Bets

In other Neurocrine Biosciences news, insider Julie Cooke sold 36,937 shares of the firm’s 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 owned 22,374 shares of the company’s stock, valued at $3,495,266.28. This trade represents a 62.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephen A. Sherwin sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $165.32, for a total transaction of $4,133,000.00. Following the completion of the sale, the director directly owned 15,860 shares in the company, valued at $2,621,975.20. This represents a 61.18% 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 three months, insiders sold 395,422 shares of company stock worth $62,448,693. 4.60% of the stock is owned by corporate insiders.

Neurocrine Biosciences Trading Down 0.1%

Neurocrine Biosciences stock opened at $166.06 on Wednesday. The firm has a market capitalization of $16.88 billion, a PE ratio of 24.35, a price-to-earnings-growth ratio of 0.63 and a beta of 0.39. Neurocrine Biosciences, Inc. has a 1-year low of $122.14 and a 1-year high of $186.12. The firm’s 50 day simple moving average is $168.20 and its 200 day simple moving average is $146.95.

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.