Empowered Funds LLC Purchases 79,605 Shares of Neurocrine Biosciences, Inc. $NBIX

Empowered Funds LLC boosted its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 1,823.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 83,971 shares of the company’s stock after buying an additional 79,605 shares during the quarter. Empowered Funds LLC’s holdings in Neurocrine Biosciences were worth $11,062,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Geneos Wealth Management Inc. boosted its holdings in Neurocrine Biosciences by 143.6% during the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after acquiring an additional 135 shares during the period. DJE Kapital AG acquired a new stake in shares of Neurocrine Biosciences in the fourth quarter valued at about $28,000. Cassaday & Co Wealth Management LLC bought a new position in shares of Neurocrine Biosciences in the first quarter worth about $33,000. Meeder Asset Management Inc. increased its stake in shares of Neurocrine Biosciences by 651.6% in the fourth quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock worth $33,000 after purchasing an additional 202 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Neurocrine Biosciences during the 4th quarter worth about $39,000. Institutional investors own 92.59% of the company’s stock.

Insider Transactions at Neurocrine Biosciences

In related news, Director Stephen A. Sherwin sold 25,000 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $165.32, for a total value of $4,133,000.00. Following the completion of the transaction, the director directly owned 15,860 shares of the company’s stock, valued at $2,621,975.20. This trade represents a 61.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Leslie V. Norwalk sold 1,250 shares of Neurocrine Biosciences stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $182.01, for a total transaction of $227,512.50. Following the sale, the director owned 1,588 shares in the company, valued at $289,031.88. This represents a 44.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 395,422 shares of company stock worth $62,448,693 over the last quarter. 4.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Wells Fargo & Company raised their target price on Neurocrine Biosciences from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, July 17th. BMO Capital Markets upped their price target on Neurocrine Biosciences from $144.00 to $170.00 and gave the stock a “market perform” rating in a report on Monday, July 13th. Sanford C. Bernstein initiated coverage on Neurocrine Biosciences in a research report on Friday, May 22nd. They issued an “outperform” rating and a $221.00 price objective for the company. Wall Street Zen upgraded shares of Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 25th. Finally, Canaccord Genuity Group boosted their target price on shares of Neurocrine Biosciences from $164.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, April 7th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Neurocrine Biosciences currently has a consensus rating of “Moderate Buy” and an average price target of $194.05.

Neurocrine Biosciences Stock Up 2.6%

Shares of NBIX opened at $185.50 on Friday. Neurocrine Biosciences, Inc. has a 12-month low of $122.14 and a 12-month high of $186.12. The firm has a market capitalization of $18.65 billion, a price-to-earnings ratio of 28.58, a P/E/G ratio of 0.76 and a beta of 0.39. The stock’s 50-day moving average price is $167.61 and its 200 day moving average price is $146.25.

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.