Neurocrine Biosciences, Inc. $NBIX Holdings Boosted by Edgestream Partners L.P.

Edgestream Partners L.P. raised its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 134.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,587 shares of the company’s stock after acquiring an additional 28,979 shares during the period. Edgestream Partners L.P.’s holdings in Neurocrine Biosciences were worth $6,664,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Geneos Wealth Management Inc. raised its position in shares of Neurocrine Biosciences by 143.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after purchasing an additional 135 shares during the period. DJE Kapital AG acquired a new position in Neurocrine Biosciences during the 4th quarter valued at approximately $28,000. Meeder Asset Management Inc. boosted its position in Neurocrine Biosciences by 651.6% during the 4th quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock valued at $33,000 after purchasing an additional 202 shares during the period. Cassaday & Co Wealth Management LLC acquired a new position in shares of Neurocrine Biosciences during the first quarter worth approximately $33,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in Neurocrine Biosciences in the 4th quarter worth approximately $39,000. 92.59% of the stock is owned by institutional investors.

Insider Activity at Neurocrine Biosciences

In other news, Director Richard F. Pops sold 15,000 shares of the business’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $157.65, for a total value of $2,364,750.00. Following the sale, the director owned 34,480 shares of the company’s stock, valued at approximately $5,435,772. The trade was a 30.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kevin Charles Gorman sold 245,088 shares of the company’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $154.33, for a total value of $37,824,431.04. Following the completion of the sale, the director owned 511,293 shares of the company’s stock, valued at approximately $78,907,848.69. This trade 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. Insiders sold 395,422 shares of company stock worth $62,448,693 in the last quarter. Company insiders own 4.60% of the company’s stock.

Neurocrine Biosciences Price Performance

Shares of NASDAQ:NBIX opened at $185.50 on Friday. The stock has a market cap of $18.65 billion, a price-to-earnings ratio of 28.58, a PEG ratio of 0.76 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’s 50 day moving average price is $167.61 and its 200 day moving average price is $146.25.

Analysts Set New Price Targets

Several analysts recently commented on the company. Needham & Company LLC restated a “buy” rating and issued a $185.00 target price on shares of Neurocrine Biosciences in a research report on Monday, April 6th. Leerink Partners boosted their price target on Neurocrine Biosciences from $160.00 to $170.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Royal Bank Of Canada increased their price target on Neurocrine Biosciences from $183.00 to $195.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 7th. Zacks Research raised Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 23rd. Finally, Piper Sandler lifted their price objective on shares of Neurocrine Biosciences from $190.00 to $207.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $194.05.

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.