Sivia Capital Partners LLC Increases Position in Neurocrine Biosciences, Inc. $NBIX

Sivia Capital Partners LLC lifted its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 85.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,100 shares of the company’s stock after purchasing an additional 3,276 shares during the period. Sivia Capital Partners LLC’s holdings in Neurocrine Biosciences were worth $1,007,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of NBIX. JPMorgan Chase & Co. boosted its position in shares of Neurocrine Biosciences by 11.0% during the third quarter. JPMorgan Chase & Co. now owns 4,730,152 shares of the company’s stock worth $664,019,000 after acquiring an additional 468,405 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Neurocrine Biosciences by 83.7% during the third quarter. AQR Capital Management LLC now owns 2,773,648 shares of the company’s stock worth $388,435,000 after acquiring an additional 1,263,633 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Neurocrine Biosciences by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 2,059,282 shares of the company’s stock worth $291,342,000 after acquiring an additional 34,457 shares during the last quarter. Deerfield Management Company L.P. boosted its position in shares of Neurocrine Biosciences by 1.4% during the third 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. Finally, Norges Bank bought a new position in shares of Neurocrine Biosciences during the fourth quarter worth $162,664,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Neurocrine Biosciences

In related news, insider Ingrid Delaet sold 2,261 shares of the company’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $156.71, for a total transaction of $354,321.31. Following the sale, the insider owned 16,225 shares of the company’s stock, valued at $2,542,619.75. This represents a 12.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David W. Boyer sold 3,888 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $156.64, for a total transaction of $609,016.32. Following the completion of the sale, the insider directly owned 7,799 shares in the company, valued at approximately $1,221,635.36. This represents a 33.27% 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 292,047 shares of company stock valued at $45,216,687 over the last quarter. 4.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

NBIX has been the subject of a number of research reports. Wolfe Research initiated coverage on shares of Neurocrine Biosciences in a research report on Tuesday, February 24th. They set an “outperform” rating and a $160.00 target price for the company. Guggenheim restated a “buy” rating and set a $175.00 target price on shares of Neurocrine Biosciences in a research report on Wednesday, May 6th. Morgan Stanley upped their target price on shares of Neurocrine Biosciences from $185.00 to $191.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Sanford C. Bernstein initiated coverage on shares of Neurocrine Biosciences in a research report on Friday, May 22nd. They set an “outperform” rating and a $221.00 target price for the company. Finally, HC Wainwright upped their target price on shares of Neurocrine Biosciences from $192.00 to $215.00 and gave the stock a “buy” rating in a research report on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Neurocrine Biosciences has an average rating of “Moderate Buy” and an average price target of $187.52.

Neurocrine Biosciences Stock Up 6.6%

Neurocrine Biosciences stock opened at $165.11 on Thursday. The company has a market cap of $16.60 billion, a price-to-earnings ratio of 25.44, a PEG ratio of 1.16 and a beta of 0.40. The firm’s fifty day moving average is $141.29 and its 200 day moving average is $139.38. Neurocrine Biosciences, Inc. has a 52-week low of $122.14 and a 52-week high of $165.81.

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.