Swiss National Bank Increases Stock Holdings in Neurocrine Biosciences, Inc. $NBIX

Swiss National Bank raised its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 7.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 292,600 shares of the company’s stock after purchasing an additional 20,800 shares during the period. Swiss National Bank’s holdings in Neurocrine Biosciences were worth $38,547,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. AQR Capital Management LLC boosted its holdings in Neurocrine Biosciences by 83.7% in the 3rd quarter. AQR Capital Management LLC now owns 2,773,648 shares of the company’s stock worth $388,435,000 after buying an additional 1,263,633 shares during the last quarter. Norges Bank purchased a new position in shares of Neurocrine Biosciences in the fourth quarter valued at approximately $162,664,000. UBS Group AG lifted its position in shares of Neurocrine Biosciences by 169.8% in the fourth quarter. UBS Group AG now owns 983,528 shares of the company’s stock valued at $139,494,000 after acquiring an additional 618,956 shares in the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in shares of Neurocrine Biosciences in the fourth quarter worth approximately $65,162,000. Finally, Two Sigma Investments LP purchased a new stake in shares of Neurocrine Biosciences during the third quarter worth approximately $48,791,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

Neurocrine Biosciences Trading Down 3.6%

NASDAQ:NBIX opened at $172.69 on Thursday. The firm has a market cap of $17.36 billion, a P/E ratio of 26.61, a PEG ratio of 0.71 and a beta of 0.39. The stock’s 50 day simple moving average is $164.88 and its 200-day simple moving average is $144.50. Neurocrine Biosciences, Inc. has a 12-month low of $122.14 and a 12-month high of $181.18.

Insider Activity

In other Neurocrine Biosciences news, insider Ingrid Delaet sold 4,367 shares of the firm’s stock in a transaction on Friday, July 10th. The stock was sold at an average price of $181.02, for a total transaction of $790,514.34. Following the completion of the transaction, the insider owned 16,225 shares of the company’s stock, valued at approximately $2,937,049.50. This trade represents a 21.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Julie Cooke sold 36,937 shares of the company’s 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 transaction, the insider directly owned 22,374 shares in the company, valued at $3,495,266.28. The trade was a 62.28% 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 394,172 shares of company stock valued at $62,221,181 in the last quarter. Insiders own 4.60% of the company’s stock.

Analyst Upgrades and Downgrades

NBIX has been the topic of a number of research reports. Piper Sandler raised their price objective on Neurocrine Biosciences from $190.00 to $207.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Leerink Partners increased their price objective on shares of Neurocrine Biosciences from $160.00 to $170.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. JPMorgan Chase & Co. lifted their price target on shares of Neurocrine Biosciences from $177.00 to $185.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Needham & Company LLC restated a “buy” rating and issued a $185.00 price objective on shares of Neurocrine Biosciences in a report on Monday, April 6th. Finally, Morgan Stanley boosted their price target on shares of Neurocrine Biosciences from $185.00 to $191.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Neurocrine Biosciences has an average rating of “Moderate Buy” and an average price target of $194.05.

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.