Assenagon Asset Management S.A. Acquires 11,466 Shares of Neurocrine Biosciences, Inc. $NBIX

Assenagon Asset Management S.A. boosted its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 14.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 91,478 shares of the company’s stock after purchasing an additional 11,466 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Neurocrine Biosciences were worth $12,051,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in NBIX. Huntington National Bank grew its stake in shares of Neurocrine Biosciences by 12.6% in the 4th quarter. Huntington National Bank now owns 678 shares of the company’s stock worth $96,000 after buying an additional 76 shares during the last quarter. Perigon Wealth Management LLC raised its position in shares of Neurocrine Biosciences by 3.1% in the 4th quarter. Perigon Wealth Management LLC now owns 2,590 shares of the company’s stock worth $367,000 after purchasing an additional 78 shares during the last quarter. Motley Fool Asset Management LLC raised its position in shares of Neurocrine Biosciences by 4.8% in the 4th quarter. Motley Fool Asset Management LLC now owns 1,693 shares of the company’s stock worth $240,000 after purchasing an additional 78 shares during the last quarter. Main Management ETF Advisors LLC boosted its stake in Neurocrine Biosciences by 1.0% in the 4th quarter. Main Management ETF Advisors LLC now owns 7,830 shares of the company’s stock worth $1,111,000 after purchasing an additional 80 shares in the last quarter. Finally, Signaturefd LLC grew its position in Neurocrine Biosciences by 4.5% during the 4th quarter. Signaturefd LLC now owns 1,925 shares of the company’s stock valued at $273,000 after purchasing an additional 83 shares during the last quarter. Institutional investors own 92.59% of the company’s stock.

Insider Activity at Neurocrine Biosciences

In other news, insider Julie Cooke sold 36,937 shares of Neurocrine Biosciences stock in a transaction that occurred 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 $3,495,266.28. This trade represents a 62.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at 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 Neurocrine Biosciences stock in a transaction on Friday, May 29th. The shares were sold at an average price of $156.71, for a total transaction of $354,321.31. Following the completion of the sale, the insider owned 16,225 shares in the company, valued at approximately $2,542,619.75. This represents a 12.23% 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. Insiders have sold 355,234 shares of company stock worth $55,330,060 in the last three months. Corporate insiders own 4.60% of the company’s stock.

Analysts Set New Price Targets

NBIX has been the subject of several recent analyst reports. Royal Bank Of Canada boosted their price target on Neurocrine Biosciences from $180.00 to $183.00 and gave the stock an “outperform” rating in a research note on Friday, May 29th. Sanford C. Bernstein began coverage on Neurocrine Biosciences in a research report on Friday, May 22nd. They set an “outperform” rating and a $221.00 price objective on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $185.00 price objective on shares of Neurocrine Biosciences in a report on Monday, April 6th. JPMorgan Chase & Co. boosted their target price on Neurocrine Biosciences from $177.00 to $185.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Finally, Wall Street Zen upgraded shares of Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 25th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $187.52.

Neurocrine Biosciences Stock Up 2.6%

NBIX stock opened at $168.52 on Friday. The business’s 50-day moving average price is $151.99 and its 200-day moving average price is $141.24. The stock has a market cap of $16.94 billion, a P/E ratio of 25.97, a PEG ratio of 0.67 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.

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.