Jefferies Financial Group Inc. Buys Shares of 45,976 Neurocrine Biosciences, Inc. $NBIX

Jefferies Financial Group Inc. bought a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 45,976 shares of the company’s stock, valued at approximately $6,521,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in NBIX. MQS Management LLC acquired a new position in shares of Neurocrine Biosciences during the 4th quarter worth about $290,000. EverSource Wealth Advisors LLC raised its holdings in Neurocrine Biosciences by 18.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 4,355 shares of the company’s stock valued at $618,000 after acquiring an additional 670 shares in the last quarter. Kingdom Financial Group LLC. acquired a new position in Neurocrine Biosciences in the 4th quarter valued at approximately $138,000. Global Retirement Partners LLC raised its holdings in Neurocrine Biosciences by 1,267.6% in the 4th quarter. Global Retirement Partners LLC now owns 2,407 shares of the company’s stock valued at $341,000 after acquiring an additional 2,231 shares in the last quarter. Finally, Fi3 FINANCIAL ADVISORS LLC acquired a new position in Neurocrine Biosciences in the 4th quarter valued at approximately $227,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 245,088 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $154.33, for a total value of $37,824,431.04. Following the sale, the director owned 511,293 shares of the company’s stock, valued at $78,907,848.69. This trade represents a 32.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Richard F. Pops sold 15,000 shares of Neurocrine Biosciences 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 sale, the director directly owned 34,480 shares in the company, valued at $5,435,772. This represents a 30.32% 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. Over the last ninety days, insiders sold 263,898 shares of company stock valued at $40,779,769. Company insiders own 4.60% of the company’s stock.

Neurocrine Biosciences Stock Performance

Shares of Neurocrine Biosciences stock opened at $156.70 on Tuesday. The stock’s fifty day simple moving average is $137.25 and its 200 day simple moving average is $138.97. The company has a market capitalization of $15.76 billion, a PE ratio of 24.14, a PEG ratio of 1.18 and a beta of 0.34. Neurocrine Biosciences, Inc. has a 12 month low of $117.59 and a 12 month high of $162.39.

Analyst Ratings Changes

Several equities analysts have commented on NBIX shares. Sanford C. Bernstein started coverage on Neurocrine Biosciences in a report on Friday. They issued an “outperform” rating and a $221.00 price target for the company. Wall Street Zen upgraded Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 25th. Guggenheim reiterated a “buy” rating and issued a $175.00 price objective on shares of Neurocrine Biosciences in a research report on Wednesday, May 6th. Canaccord Genuity Group increased their price objective on Neurocrine Biosciences from $164.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, April 7th. Finally, Piper Sandler increased their price objective on Neurocrine Biosciences from $190.00 to $207.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $185.90.

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.