Rhenman & Partners Asset Management AB Purchases 10,774 Shares of Neurocrine Biosciences, Inc. $NBIX

Rhenman & Partners Asset Management AB raised its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 9.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 125,491 shares of the company’s stock after purchasing an additional 10,774 shares during the quarter. Neurocrine Biosciences accounts for approximately 1.7% of Rhenman & Partners Asset Management AB’s holdings, making the stock its 21st biggest position. Rhenman & Partners Asset Management AB owned about 0.13% of Neurocrine Biosciences worth $17,798,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Federation des caisses Desjardins du Quebec grew its stake in shares of Neurocrine Biosciences by 0.6% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 104,107 shares of the company’s stock valued at $14,765,000 after acquiring an additional 633 shares during the period. DRW Securities LLC bought a new position in shares of Neurocrine Biosciences during the 4th quarter valued at approximately $399,000. Brooklyn Investment Group grew its stake in shares of Neurocrine Biosciences by 55.2% during the 4th quarter. Brooklyn Investment Group now owns 4,572 shares of the company’s stock valued at $657,000 after acquiring an additional 1,627 shares during the period. Cibc World Markets Corp bought a new position in shares of Neurocrine Biosciences during the 4th quarter valued at approximately $488,000. Finally, Commonwealth Equity Services LLC grew its stake in shares of Neurocrine Biosciences by 1.2% during the 4th quarter. Commonwealth Equity Services LLC now owns 14,501 shares of the company’s stock valued at $2,057,000 after acquiring an additional 178 shares during the period. 92.59% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NBIX has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their price target on Neurocrine Biosciences from $177.00 to $185.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. The Goldman Sachs Group initiated coverage on Neurocrine Biosciences in a report on Tuesday, June 2nd. They issued a “buy” rating and a $213.00 price target on the stock. Wedbush boosted their price target on Neurocrine Biosciences from $166.00 to $176.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. Canaccord Genuity Group boosted their price target on Neurocrine Biosciences from $164.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, April 7th. Finally, Wells Fargo & Company lowered their price target on Neurocrine Biosciences from $180.00 to $175.00 and set an “overweight” rating on the stock in a report on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $187.52.

Insider Buying and Selling at Neurocrine Biosciences

In other news, insider Jude Onyia sold 11,000 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was 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 $4,141,821.50. This represents a 29.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ingrid Delaet sold 2,261 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $156.71, for a total value of $354,321.31. Following the sale, the insider directly owned 16,225 shares in the company, valued at $2,542,619.75. This trade represents a 12.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 355,234 shares of company stock worth $55,330,060. Company insiders own 4.60% of the company’s stock.

Neurocrine Biosciences Price Performance

Shares of NBIX opened at $159.76 on Friday. The stock has a market capitalization of $16.06 billion, a price-to-earnings ratio of 24.62, a price-to-earnings-growth ratio of 1.22 and a beta of 0.40. Neurocrine Biosciences, Inc. has a 1 year low of $122.14 and a 1 year high of $169.57. The business’s 50 day simple moving average is $145.89 and its 200-day simple moving average is $140.48.

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.