KBC Group NV Sells 15,390 Shares of Neurocrine Biosciences, Inc. $NBIX

KBC Group NV trimmed its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 47.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,011 shares of the company’s stock after selling 15,390 shares during the period. KBC Group NV’s holdings in Neurocrine Biosciences were worth $2,241,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NBIX. AQR Capital Management LLC boosted its position in shares of Neurocrine Biosciences by 18.0% during the fourth quarter. AQR Capital Management LLC now owns 3,271,706 shares of the company’s stock valued at $462,652,000 after buying an additional 498,058 shares during the period. Geode Capital Management LLC raised its holdings in shares of Neurocrine Biosciences by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 2,059,282 shares of the company’s stock worth $291,342,000 after buying an additional 34,457 shares during the period. Los Angeles Capital Management LLC raised its holdings in shares of Neurocrine Biosciences by 7.4% in the fourth quarter. Los Angeles Capital Management LLC now owns 1,291,278 shares of the company’s stock worth $178,248,000 after buying an additional 88,522 shares during the period. Northern Trust Corp raised its holdings in shares of Neurocrine Biosciences by 31.9% in the fourth quarter. Northern Trust Corp now owns 1,221,184 shares of the company’s stock worth $173,201,000 after buying an additional 295,470 shares during the period. Finally, Deerfield Management Company L.P. lifted its stake in shares of Neurocrine Biosciences by 1.4% during the 3rd quarter. Deerfield Management Company L.P. now owns 1,184,345 shares of the company’s stock worth $166,258,000 after acquiring an additional 16,543 shares during the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

Neurocrine Biosciences Stock Up 0.9%

Shares of NASDAQ:NBIX opened at $175.77 on Friday. Neurocrine Biosciences, Inc. has a 52-week low of $122.14 and a 52-week high of $181.18. The stock has a market cap of $17.67 billion, a P/E ratio of 27.08, a price-to-earnings-growth ratio of 0.69 and a beta of 0.39. The business’s 50 day moving average is $165.53 and its 200 day moving average is $144.95.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NBIX. JPMorgan Chase & Co. boosted their price objective on Neurocrine Biosciences from $177.00 to $185.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Piper Sandler lifted their target price on Neurocrine Biosciences from $190.00 to $207.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. BMO Capital Markets boosted their target price on shares of Neurocrine Biosciences from $144.00 to $170.00 and gave the company a “market perform” rating in a research note on Monday, July 13th. Leerink Partners boosted their target price on shares of Neurocrine Biosciences from $160.00 to $170.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. Finally, Wells Fargo & Company upped their price target on shares of Neurocrine Biosciences from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. Two equities 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, Neurocrine Biosciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $194.05.

Insider Buying and Selling at Neurocrine Biosciences

In other news, Director Stephen A. Sherwin sold 25,000 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $165.32, for a total transaction of $4,133,000.00. Following the transaction, the director owned 15,860 shares of the company’s stock, valued at approximately $2,621,975.20. This represents a 61.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Darin Lippoldt sold 10,000 shares of the firm’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $179.60, for a total value of $1,796,000.00. Following the transaction, the insider owned 54,729 shares in the company, valued at approximately $9,829,328.40. This represents a 15.45% decrease in their position. 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 sold a total of 394,172 shares of company stock worth $62,221,181 over the last quarter. Insiders own 4.60% of the company’s stock.

Neurocrine Biosciences 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.