Assenagon Asset Management S.A. Has $37.52 Million Holdings in Neurocrine Biosciences, Inc. $NBIX

Key Points

• Assenagon Asset Management increased its Neurocrine Biosciences stake by 143.3% in the second quarter, holding 222,606 shares worth approximately $37.52 million. Institutional investors collectively own 92.59% of NBIX.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $201.50. Recent target increases ranged from $170 to $222.
• Neurocrine insiders sold 395,422 shares worth $62.45 million over the past 90 days, including sales by an insider and a director under pre-arranged Rule 10b5-1 trading plans.

Assenagon Asset Management S.A. boosted its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 143.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 222,606 shares of the company's stock after purchasing an additional 131,128 shares during the period. Assenagon Asset Management S.A. owned about 0.22% of Neurocrine Biosciences worth $37,517,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. Geneos Wealth Management Inc. increased its stake in shares of Neurocrine Biosciences by 143.6% in the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company's stock valued at $25,000 after buying an additional 135 shares during the period. DJE Kapital AG acquired a new stake in Neurocrine Biosciences during the 4th quarter valued at approximately $28,000. Basecamp Wealth Advisors LLC increased its position in Neurocrine Biosciences by 582.9% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company's stock valued at $31,000 after purchasing an additional 204 shares during the period. Cassaday & Co Wealth Management LLC bought a new position in Neurocrine Biosciences during the 1st quarter worth approximately $33,000. Finally, Meeder Asset Management Inc. raised its holdings in Neurocrine Biosciences by 651.6% during the 4th 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 last quarter. 92.59% of the stock is owned by institutional investors.

Analysts Set New Price Targets

NBIX has been the topic of a number of recent analyst reports. Piper Sandler boosted their price target on shares of Neurocrine Biosciences from $207.00 to $210.00 and gave the stock an "overweight" rating in a research report on Friday, July 31st. Truist Financial lifted their target price on shares of Neurocrine Biosciences from $200.00 to $213.00 and gave the stock a "buy" rating in a research note on Monday, August 3rd. Stifel Nicolaus boosted their target price on shares of Neurocrine Biosciences from $188.00 to $215.00 and gave the company a "buy" rating in a report on Friday, July 31st. BMO Capital Markets upped their price target on shares of Neurocrine Biosciences from $144.00 to $170.00 and gave the company a "market perform" rating in a research report on Monday, July 13th. Finally, Guggenheim increased their price target on Neurocrine Biosciences from $200.00 to $222.00 and gave the stock a "buy" rating in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Neurocrine Biosciences currently has a consensus rating of "Moderate Buy" and a consensus target price of $201.50.

Insider Activity at Neurocrine Biosciences

In related news, insider Ingrid Delaet sold 4,367 shares of the business's stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $181.02, for a total value of $790,514.34. Following the completion of the sale, the insider directly owned 16,225 shares of the company's stock, valued at $2,937,049.50. The trade was a 21.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Leslie V. Norwalk sold 1,250 shares of the company's stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $182.01, for a total value of $227,512.50. Following the transaction, the director directly owned 1,588 shares in the company, valued at approximately $289,031.88. This trade represents a 44.05% decrease in their ownership of the stock. 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 ninety days, insiders sold 395,422 shares of company stock valued at $62,448,693. 4.60% of the stock is currently owned by company insiders.

Neurocrine Biosciences Stock Up 2.2%

Shares of NBIX stock opened at $163.41 on Friday. The firm has a 50 day moving average of $168.49 and a 200-day moving average of $147.45. The company has a market cap of $16.61 billion, a price-to-earnings ratio of 23.96, a price-to-earnings-growth ratio of 0.58 and a beta of 0.39. Neurocrine Biosciences, Inc. has a 52 week low of $122.14 and a 52 week high of $186.12.

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.

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