Focus Partners Advisor Solutions LLC Invests $1.93 Million in Neurocrine Biosciences, Inc. $NBIX

Key Points

• Focus Partners Advisor Solutions purchased 11,434 shares of Neurocrine Biosciences worth approximately $1.93 million during the second quarter. Institutional investors collectively own 92.59% of NBIX shares.
• Company insiders sold 376,612 shares valued at roughly $59.5 million over the past 90 days, while insiders retain a 4.60% ownership stake.
• Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $200.86; recent targets range from $182 to $220, compared with the stock’s Friday opening price of $152.72.

Focus Partners Advisor Solutions LLC purchased a new stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 11,434 shares of the company's stock, valued at approximately $1,927,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in NBIX. AQR Capital Management LLC grew its holdings in Neurocrine Biosciences by 83.7% during the 3rd quarter. AQR Capital Management LLC now owns 2,773,648 shares of the company's stock worth $388,435,000 after acquiring an additional 1,263,633 shares in the last quarter. Norges Bank bought a new stake in shares of Neurocrine Biosciences in the 4th quarter valued at about $162,664,000. UBS Group AG lifted its position in shares of Neurocrine Biosciences by 169.8% in the 4th quarter. UBS Group AG now owns 983,528 shares of the company's stock worth $139,494,000 after purchasing an additional 618,956 shares during the period. First Trust Advisors LP lifted its position in shares of Neurocrine Biosciences by 97.0% in the 1st quarter. First Trust Advisors LP now owns 959,217 shares of the company's stock worth $126,367,000 after purchasing an additional 472,408 shares during the period. Finally, Zurich Insurance Group Ltd FI bought a new position in shares of Neurocrine Biosciences during the fourth quarter valued at approximately $65,162,000. 92.59% of the stock is currently owned by institutional investors.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director Stephen A. Sherwin sold 25,000 shares of the firm's stock in a transaction on Friday, June 5th. The shares were 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 owned 15,860 shares of the company's stock, valued at approximately $2,621,975.20. This trade represents a 61.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Darin Lippoldt sold 10,000 shares of Neurocrine Biosciences stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $179.60, for a total transaction of $1,796,000.00. Following the sale, the insider owned 54,729 shares of the company's stock, valued at $9,829,328.40. The trade was a 15.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 376,612 shares of company stock valued at $59,493,355 over the last 90 days. Company insiders own 4.60% of the company's stock.

Neurocrine Biosciences Stock Performance

Shares of NBIX stock opened at $152.72 on Friday. Neurocrine Biosciences, Inc. has a fifty-two week low of $122.14 and a fifty-two week high of $186.12. The firm has a market capitalization of $15.52 billion, a price-to-earnings ratio of 22.39, a PEG ratio of 0.54 and a beta of 0.39. The stock's 50-day simple moving average is $167.98 and its 200-day simple moving average is $148.23.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Wells Fargo & Company lifted their price objective on shares of Neurocrine Biosciences from $175.00 to $200.00 and gave the company an "overweight" rating in a report on Friday, July 17th. Truist Financial increased their target price on Neurocrine Biosciences from $200.00 to $213.00 and gave the company a "buy" rating in a research report on Monday, August 3rd. Wedbush lifted their price target on Neurocrine Biosciences from $185.00 to $194.00 and gave the company an "outperform" rating in a report on Monday, August 3rd. Morgan Stanley reduced their price target on Neurocrine Biosciences from $196.00 to $182.00 and set an "equal weight" rating for the company in a research report on Thursday. Finally, TD Cowen upped their price objective on Neurocrine Biosciences from $200.00 to $220.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $200.86.

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.

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