Brown Advisory Inc. Decreases Holdings in Neurocrine Biosciences, Inc. $NBIX

Brown Advisory Inc. decreased its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 51.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 225,288 shares of the company’s stock after selling 243,259 shares during the period. Brown Advisory Inc.’s holdings in Neurocrine Biosciences were worth $31,953,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NBIX. USA Financial Formulas purchased a new stake in Neurocrine Biosciences during the fourth quarter valued at approximately $25,000. Geneos Wealth Management Inc. lifted its position in Neurocrine Biosciences by 143.6% during the first 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 last quarter. DJE Kapital AG purchased a new stake in Neurocrine Biosciences during the fourth quarter valued at approximately $28,000. Meeder Asset Management Inc. lifted its position in Neurocrine Biosciences by 651.6% during the fourth quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock valued at $33,000 after acquiring an additional 202 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Neurocrine Biosciences during the fourth quarter valued at approximately $39,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Canaccord Genuity Group raised their price target on shares of Neurocrine Biosciences from $164.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, April 7th. 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 report on Wednesday, April 22nd. Wolfe Research assumed coverage on shares of Neurocrine Biosciences in a report on Tuesday, February 24th. They issued an “outperform” rating and a $160.00 price target for the company. Morgan Stanley raised their price target on shares of Neurocrine Biosciences from $185.00 to $191.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Finally, JPMorgan Chase & Co. raised their price target on shares of Neurocrine Biosciences from $177.00 to $185.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $187.52.

Neurocrine Biosciences Price Performance

Shares of Neurocrine Biosciences stock opened at $159.51 on Tuesday. The firm has a fifty day moving average price of $146.45 and a 200 day moving average price of $140.59. Neurocrine Biosciences, Inc. has a 1 year low of $122.14 and a 1 year high of $169.57. The stock has a market cap of $16.04 billion, a PE ratio of 24.58, a price-to-earnings-growth ratio of 1.20 and a beta of 0.39.

Insider Activity

In related news, Director Richard F. Pops sold 15,000 shares of the firm’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $157.65, for a total transaction of $2,364,750.00. Following the sale, the director owned 34,480 shares in the company, valued at approximately $5,435,772. This trade represents a 30.32% decrease in their ownership of the stock. The transaction was disclosed in a 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, insider Julie Cooke sold 36,937 shares of the firm’s stock in a transaction 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 represents a 62.28% decrease in their position. 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 have sold a total of 355,234 shares of company stock valued at $55,330,060 over the last quarter. Insiders own 4.60% of the company’s stock.

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.