Thrivent Financial for Lutherans Trims Stock Position in Neurocrine Biosciences, Inc. $NBIX

Thrivent Financial for Lutherans cut its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 84.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 90,318 shares of the company’s stock after selling 481,467 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Neurocrine Biosciences were worth $12,809,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Nilsine Partners LLC purchased a new stake in shares of Neurocrine Biosciences in the fourth quarter valued at $1,197,000. Ruffer LLP purchased a new stake in Neurocrine Biosciences during the 4th quarter worth about $2,479,000. Korea Investment CORP increased its position in Neurocrine Biosciences by 94.3% during the 3rd quarter. Korea Investment CORP now owns 71,689 shares of the company’s stock worth $10,064,000 after purchasing an additional 34,800 shares in the last quarter. CIBC Private Wealth Group LLC raised its stake 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 valued at $1,120,000 after purchasing an additional 7,935 shares during the last quarter. Finally, Focus Partners Advisor Solutions LLC lifted its holdings in Neurocrine Biosciences by 152.5% in the 3rd quarter. Focus Partners Advisor Solutions LLC now owns 13,263 shares of the company’s stock valued at $1,945,000 after purchasing an additional 8,011 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Neurocrine Biosciences

In other news, Director Leslie V. Norwalk sold 3,810 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $155.01, for a total transaction of $590,588.10. Following the completion of the sale, the director directly owned 2,429 shares of the company’s stock, valued at $376,519.29. The trade was a 61.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Richard F. Pops sold 15,000 shares of the company’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $157.65, for a total value of $2,364,750.00. Following the sale, the director owned 34,480 shares of the company’s stock, valued at approximately $5,435,772. The trade was a 30.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 4.60% of the company’s stock.

Neurocrine Biosciences Price Performance

Shares of NBIX stock opened at $157.21 on Tuesday. The firm’s 50-day simple moving average is $134.60 and its 200-day simple moving average is $138.45. Neurocrine Biosciences, Inc. has a 1-year low of $117.59 and a 1-year high of $162.39. The firm has a market cap of $15.81 billion, a P/E ratio of 24.22, a PEG ratio of 1.19 and a beta of 0.34.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Leerink Partners raised their price target on shares of Neurocrine Biosciences from $160.00 to $170.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 22nd. Wedbush upped their price objective on shares of Neurocrine Biosciences from $166.00 to $176.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. UBS Group decreased their target price on shares of Neurocrine Biosciences from $188.00 to $178.00 and set a “buy” rating on the stock in a research report on Friday, January 23rd. Royal Bank Of Canada boosted their price target on Neurocrine Biosciences from $176.00 to $180.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Finally, Citigroup increased their price target on Neurocrine Biosciences from $242.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Neurocrine Biosciences presently has an average rating of “Moderate Buy” and an average price target of $184.15.

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.