7,017 Shares in Neurocrine Biosciences, Inc. $NBIX Bought by Element Capital Management LLC

Element Capital Management LLC bought a new position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the 4th quarter, Holdings Channel reports. The fund bought 7,017 shares of the company’s stock, valued at approximately $995,000.

Several other institutional investors have also recently bought and sold shares of the company. Huntington National Bank raised its holdings in Neurocrine Biosciences by 12.6% in the 4th quarter. Huntington National Bank now owns 678 shares of the company’s stock worth $96,000 after acquiring an additional 76 shares during the period. Perigon Wealth Management LLC raised its holdings in Neurocrine Biosciences by 3.1% in the 4th quarter. Perigon Wealth Management LLC now owns 2,590 shares of the company’s stock worth $367,000 after acquiring an additional 78 shares during the period. Motley Fool Asset Management LLC raised its holdings in Neurocrine Biosciences by 4.8% in the 4th quarter. Motley Fool Asset Management LLC now owns 1,693 shares of the company’s stock worth $240,000 after acquiring an additional 78 shares during the period. Main Management ETF Advisors LLC raised its holdings in Neurocrine Biosciences by 1.0% in the 4th quarter. Main Management ETF Advisors LLC now owns 7,830 shares of the company’s stock worth $1,111,000 after acquiring an additional 80 shares during the period. Finally, Signaturefd LLC raised its holdings in Neurocrine Biosciences by 4.5% in the 4th quarter. Signaturefd LLC now owns 1,925 shares of the company’s stock worth $273,000 after acquiring an additional 83 shares during the period. Institutional investors own 92.59% of the company’s stock.

Insider Buying and Selling

In other news, Director Richard F. Pops sold 15,000 shares of the stock in a transaction on 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 owned 34,480 shares in the company, valued at approximately $5,435,772. This represents a 30.32% decrease in their position. The sale was disclosed in a filing 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, Director Kevin Charles Gorman sold 245,088 shares of the stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $154.33, for a total transaction of $37,824,431.04. Following the completion of the transaction, the director owned 511,293 shares of the company’s stock, valued at approximately $78,907,848.69. This represents a 32.40% 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. In the last quarter, insiders have sold 355,234 shares of company stock worth $55,330,060. Insiders own 4.60% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on NBIX. Wedbush lifted their target price on shares of 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 upped their target price on shares of Neurocrine Biosciences from $164.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, April 7th. Guggenheim reiterated a “buy” rating and set a $175.00 target price on shares of Neurocrine Biosciences in a research note on Wednesday, May 6th. JPMorgan Chase & Co. upped their target price on shares of Neurocrine Biosciences from $177.00 to $185.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Finally, Weiss Ratings upgraded shares of Neurocrine Biosciences from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $187.52.

Neurocrine Biosciences Price Performance

NASDAQ:NBIX opened at $159.00 on Thursday. Neurocrine Biosciences, Inc. has a one year low of $122.14 and a one year high of $169.57. The stock has a market cap of $15.99 billion, a P/E ratio of 24.50, a PEG ratio of 1.17 and a beta of 0.40. The company has a fifty day moving average price of $147.48 and a 200 day moving average price of $140.68.

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.