Private Client Services LLC Trims Stake in Neurocrine Biosciences, Inc. $NBIX

Private Client Services LLC lowered its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 74.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,156 shares of the company’s stock after selling 9,310 shares during the period. Private Client Services LLC’s holdings in Neurocrine Biosciences were worth $532,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of NBIX. AQR Capital Management LLC raised its holdings in shares of Neurocrine Biosciences by 83.7% in the third 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 period. Norges Bank purchased a new position in Neurocrine Biosciences during the 4th quarter valued at $162,664,000. UBS Group AG boosted its holdings in Neurocrine Biosciences by 169.8% during the 4th 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 during the period. First Trust Advisors LP grew its position in Neurocrine Biosciences by 97.0% in the 1st quarter. First Trust Advisors LP now owns 959,217 shares of the company’s stock valued at $126,367,000 after acquiring an additional 472,408 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI bought a new position in Neurocrine Biosciences in the 4th quarter valued at $65,162,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

More Neurocrine Biosciences News

Here are the key news stories impacting Neurocrine Biosciences this week:

• Positive Sentiment: Canaccord Genuity raised its price target from $200 to $210 and upgraded or reaffirmed its rating at “buy,” implying approximately 26% upside. Benzinga analyst price-target report
• Positive Sentiment: Truist Financial increased its target from $200 to $213 and assigned a “buy” rating, representing roughly 28% potential upside. Benzinga analyst price-target report
• Positive Sentiment: Wedbush raised its target from $185 to $194 and maintained an “outperform” rating, indicating about 17% upside. Benzinga analyst price-target report
• Positive Sentiment: Additional analysts also lifted their targets to $198, $196, $215, $210, $220, $249 and $222, reinforcing the positive trend in sell-side expectations. Neurocrine Biosciences price target raised to $198 Neurocrine Biosciences price target raised to $196 Neurocrine Biosciences price target raised to $215 Neurocrine Biosciences price target raised to $220 Neurocrine Biosciences price target raised to $249 Neurocrine Biosciences price target raised to $222

Neurocrine Biosciences Trading Down 0.3%

NBIX opened at $166.23 on Tuesday. The firm has a market cap of $16.71 billion, a price-to-earnings ratio of 24.37, a PEG ratio of 0.70 and a beta of 0.39. Neurocrine Biosciences, Inc. has a 12 month low of $122.14 and a 12 month high of $186.12. The stock has a fifty day moving average price of $168.00 and a 200-day moving average price of $146.73.

Insider Buying and Selling

In other Neurocrine Biosciences news, Director Richard F. Pops sold 15,000 shares of the business’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $157.65, for a total value of $2,364,750.00. Following the completion of the transaction, the director directly owned 34,480 shares in the company, valued at approximately $5,435,772. The trade was a 30.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jude Onyia sold 11,000 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $160.25, for a total transaction of $1,762,750.00. Following the sale, the insider directly owned 25,846 shares of the company’s stock, valued at approximately $4,141,821.50. The trade was a 29.85% decrease in their ownership of the stock. 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. Insiders have sold 395,422 shares of company stock valued at $62,448,693 over the last three months. Corporate insiders own 4.60% of the company’s stock.

Analyst Ratings Changes

NBIX has been the subject of several research analyst reports. Canaccord Genuity Group lifted their target price on Neurocrine Biosciences from $200.00 to $210.00 and gave the stock a “buy” rating in a research report on Monday. Weiss Ratings upgraded shares of Neurocrine Biosciences from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, July 28th. Truist Financial raised their price target on shares of Neurocrine Biosciences from $200.00 to $213.00 and gave the stock a “buy” rating in a research note on Monday. Zacks Research upgraded shares of Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 23rd. Finally, Guggenheim boosted their price objective on shares of Neurocrine Biosciences from $200.00 to $222.00 and gave the company a “buy” rating in a research report on Friday. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Neurocrine Biosciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $201.50.

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.