Neurocrine Biosciences, Inc. $NBIX Holdings Boosted by Lazard Asset Management LLC

Lazard Asset Management LLC raised its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 91.7% in the first quarter, HoldingsChannel.com reports. The fund owned 124,479 shares of the company’s stock after buying an additional 59,554 shares during the quarter. Lazard Asset Management LLC’s holdings in Neurocrine Biosciences were worth $16,399,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. AQR Capital Management LLC raised its position in shares of Neurocrine Biosciences by 83.7% during the 3rd quarter. AQR Capital Management LLC now owns 2,773,648 shares of the company’s stock worth $388,435,000 after purchasing an additional 1,263,633 shares during the period. Norges Bank acquired a new position in Neurocrine Biosciences during the 4th quarter valued at approximately $162,664,000. UBS Group AG grew its stake in Neurocrine Biosciences by 169.8% during the 4th quarter. UBS Group AG now owns 983,528 shares of the company’s stock worth $139,494,000 after buying an additional 618,956 shares during the last quarter. First Trust Advisors LP grew its stake in Neurocrine Biosciences by 97.0% during the 1st quarter. First Trust Advisors LP now owns 959,217 shares of the company’s stock worth $126,367,000 after buying an additional 472,408 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI bought a new position in Neurocrine Biosciences during the 4th quarter worth $65,162,000. 92.59% of the stock is owned by institutional investors.

Neurocrine Biosciences Stock Down 1.1%

Shares of NBIX opened at $180.79 on Thursday. The firm has a market capitalization of $18.18 billion, a PE ratio of 27.86, a P/E/G ratio of 0.77 and a beta of 0.39. The firm has a 50-day moving average price of $167.01 and a 200 day moving average price of $145.90. Neurocrine Biosciences, Inc. has a 52-week low of $122.14 and a 52-week high of $183.50.

Analyst Upgrades and Downgrades

NBIX has been the topic of a number of recent research reports. Morgan Stanley raised their target price 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. Sanford C. Bernstein assumed coverage on shares of Neurocrine Biosciences in a research report on Friday, May 22nd. They set an “outperform” rating and a $221.00 price target for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $185.00 price objective on shares of Neurocrine Biosciences in a report on Monday, April 6th. Wall Street Zen upgraded shares of Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 25th. Finally, Royal Bank Of Canada upped their target price on shares of Neurocrine Biosciences from $183.00 to $195.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 7th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $194.05.

Insider Buying and Selling

In other news, Director Stephen A. Sherwin sold 25,000 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $165.32, for a total value of $4,133,000.00. Following the completion of the transaction, the director directly owned 15,860 shares in the company, valued at $2,621,975.20. This trade represents a 61.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 that occurred on Thursday, June 4th. The shares were sold at an average price of $168.06, for a total transaction of $210,075.00. Following the transaction, the director owned 2,838 shares in the company, valued at $476,954.28. This 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. In the last quarter, insiders sold 394,172 shares of company stock worth $62,221,181. Company insiders own 4.60% of the company’s stock.

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.