GW&K Investment Management LLC Cuts Holdings in Neurocrine Biosciences, Inc. $NBIX

GW&K Investment Management LLC decreased its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 3.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 576,648 shares of the company’s stock after selling 17,737 shares during the period. GW&K Investment Management LLC’s holdings in Neurocrine Biosciences were worth $81,787,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in Neurocrine Biosciences by 11.0% in the third quarter. JPMorgan Chase & Co. now owns 4,730,152 shares of the company’s stock valued at $664,019,000 after buying an additional 468,405 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Neurocrine Biosciences by 83.7% during the third quarter. AQR Capital Management LLC now owns 2,773,648 shares of the company’s stock worth $388,435,000 after purchasing an additional 1,263,633 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Neurocrine Biosciences by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 2,059,282 shares of the company’s stock worth $291,342,000 after purchasing an additional 34,457 shares in the last quarter. Los Angeles Capital Management LLC increased its stake in shares of Neurocrine Biosciences by 7.4% during the fourth quarter. Los Angeles Capital Management LLC now owns 1,291,278 shares of the company’s stock worth $178,248,000 after purchasing an additional 88,522 shares in the last quarter. Finally, Deerfield Management Company L.P. increased its stake in shares of Neurocrine Biosciences by 1.4% during the third quarter. Deerfield Management Company L.P. now owns 1,184,345 shares of the company’s stock worth $166,258,000 after purchasing an additional 16,543 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on NBIX shares. Zacks Research raised shares of Neurocrine Biosciences from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 15th. Guggenheim reissued a “buy” rating and set a $175.00 target price on shares of Neurocrine Biosciences in a research note on Wednesday, May 6th. The Goldman Sachs Group started coverage on shares of Neurocrine Biosciences in a research note on Tuesday, June 2nd. They set a “buy” rating and a $213.00 target price for the company. Truist Financial boosted their target price on shares of Neurocrine Biosciences from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Finally, Wall Street Zen raised shares of Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 25th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Neurocrine Biosciences has a consensus rating of “Moderate Buy” and an average target price of $187.52.

Insider Activity

In related news, insider Jude Onyia sold 11,000 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $160.25, for a total transaction of $1,762,750.00. Following the transaction, the insider directly owned 25,846 shares in the company, valued at approximately $4,141,821.50. The trade was a 29.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kevin Charles Gorman sold 245,088 shares of the business’s stock in a transaction dated 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 transaction, the director owned 511,293 shares in the company, valued at $78,907,848.69. The trade was a 32.40% 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 sold a total of 355,234 shares of company stock valued at $55,330,060 in the last ninety days. 4.60% of the stock is currently owned by corporate insiders.

Neurocrine Biosciences Trading Up 1.3%

NBIX opened at $165.24 on Wednesday. The firm has a market capitalization of $16.61 billion, a PE ratio of 25.46, a PEG ratio of 1.22 and a beta of 0.40. Neurocrine Biosciences, Inc. has a twelve month low of $122.14 and a twelve month high of $169.57. The firm’s 50-day moving average price is $144.09 and its 200 day moving average price is $140.05.

About Neurocrine Biosciences

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.