OP Asset Management Ltd Purchases New Position in Neurocrine Biosciences, Inc. $NBIX

OP Asset Management Ltd acquired a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 18,506 shares of the company’s stock, valued at approximately $2,438,000.

Several other institutional investors have also modified their holdings of the stock. USA Financial Formulas acquired a new position in shares of Neurocrine Biosciences in the 4th quarter valued at $25,000. Geneos Wealth Management Inc. raised its stake in Neurocrine Biosciences by 143.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after acquiring an additional 135 shares in the last quarter. DJE Kapital AG acquired a new stake in Neurocrine Biosciences during the 4th quarter worth $28,000. Meeder Asset Management Inc. lifted its position in Neurocrine Biosciences by 651.6% in 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 in the fourth quarter valued at $39,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on NBIX shares. Guggenheim reaffirmed a “buy” rating and set a $175.00 price objective on shares of Neurocrine Biosciences in a report on Wednesday, May 6th. Citigroup upped their target price on Neurocrine Biosciences from $242.00 to $246.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Sanford C. Bernstein initiated coverage on Neurocrine Biosciences in a research note on Friday, May 22nd. They set an “outperform” rating and a $221.00 price target on the stock. Leerink Partners lifted their price target on Neurocrine Biosciences from $160.00 to $170.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Finally, Morgan Stanley boosted their price objective on Neurocrine Biosciences from $185.00 to $191.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Neurocrine Biosciences currently has an average rating of “Moderate Buy” and an average price target of $187.52.

Neurocrine Biosciences Trading Up 2.6%

Shares of NBIX opened at $168.52 on Friday. The stock’s 50 day moving average is $151.99 and its two-hundred day moving average is $141.24. Neurocrine Biosciences, Inc. has a twelve month low of $122.14 and a twelve month high of $169.57. The firm has a market capitalization of $16.94 billion, a PE ratio of 25.97, a P/E/G ratio of 0.67 and a beta of 0.40.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Jude Onyia sold 11,000 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $160.25, for a total value of $1,762,750.00. Following the completion of the transaction, the insider owned 25,846 shares in the company, valued at approximately $4,141,821.50. This represents 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 this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Leslie V. Norwalk sold 1,250 shares of the firm’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $168.06, for a total value of $210,075.00. Following the completion of the sale, the director directly owned 2,838 shares of the company’s stock, valued at approximately $476,954.28. This trade represents a 30.58% 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. Over the last 90 days, insiders sold 355,234 shares of company stock valued at $55,330,060. 4.60% of the stock is owned by company insiders.

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.