Neurocrine Biosciences, Inc. $NBIX Shares Sold by Erste Asset Management GmbH

Erste Asset Management GmbH trimmed its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 17.2% in the fourth quarter, Holdings Channel reports. The firm owned 19,700 shares of the company’s stock after selling 4,100 shares during the period. Erste Asset Management GmbH’s holdings in Neurocrine Biosciences were worth $2,830,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NBIX. Royal Bank of Canada increased its position in shares of Neurocrine Biosciences by 36.7% during the 1st quarter. Royal Bank of Canada now owns 82,810 shares of the company’s stock worth $9,158,000 after purchasing an additional 22,224 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Neurocrine Biosciences by 60.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,783 shares of the company’s stock worth $1,647,000 after purchasing an additional 5,577 shares during the last quarter. NewEdge Advisors LLC increased its position in shares of Neurocrine Biosciences by 56.3% during the 1st quarter. NewEdge Advisors LLC now owns 7,630 shares of the company’s stock worth $844,000 after purchasing an additional 2,747 shares during the last quarter. Empowered Funds LLC purchased a new position in Neurocrine Biosciences during the 1st quarter valued at about $1,333,000. Finally, Geneos Wealth Management Inc. boosted its holdings in Neurocrine Biosciences by 143.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after acquiring an additional 135 shares during the period. 92.59% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

NBIX has been the subject of a number of research analyst reports. Citigroup raised their target price on Neurocrine Biosciences from $242.00 to $246.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Wall Street Zen upgraded Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 25th. Needham & Company LLC restated a “buy” rating and set a $185.00 target price on shares of Neurocrine Biosciences in a report on Monday, April 6th. HC Wainwright raised their target price on Neurocrine Biosciences from $192.00 to $215.00 and gave the company a “buy” rating in a report on Tuesday, April 7th. Finally, BMO Capital Markets lowered their target price on Neurocrine Biosciences from $147.00 to $140.00 and set a “market perform” rating for the company in a report on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $187.52.

Insider Activity

In related news, insider Julie Cooke sold 36,937 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $156.22, for a total transaction of $5,770,298.14. Following the completion of the sale, the insider owned 22,374 shares in the company, valued at $3,495,266.28. The trade was a 62.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ingrid Delaet sold 2,261 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $156.71, for a total value of $354,321.31. Following the sale, the insider owned 16,225 shares of the company’s stock, valued at approximately $2,542,619.75. The trade was a 12.23% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 355,234 shares of company stock valued at $55,330,060 over the last 90 days. Insiders own 4.60% of the company’s stock.

Neurocrine Biosciences Stock Performance

Shares of NBIX opened at $165.24 on Wednesday. The stock has a 50-day simple moving average of $144.09 and a 200-day simple moving average of $140.05. The stock 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 1 year low of $122.14 and a 1 year high of $169.57.

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.