Neurocrine Biosciences, Inc. $NBIX Shares Purchased by Cetera Investment Advisers

Key Points

• Cetera Investment Advisers increased its Neurocrine Biosciences stake by 50.1% in the first quarter, owning 20,245 shares worth approximately $2.67 million. Institutional investors collectively own 92.59% of NBIX.
• Neurocrine shares opened at $163.41, with the stock up 2.2%; analysts maintain a “Moderate Buy” consensus and an average price target of $201.50.
• Insiders have sold 395,422 shares worth about $62.45 million over the past quarter, including sales by an executive and a director under pre-arranged Rule 10b5-1 trading plans.

Cetera Investment Advisers increased its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 50.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,245 shares of the company's stock after purchasing an additional 6,756 shares during the period. Cetera Investment Advisers' holdings in Neurocrine Biosciences were worth $2,667,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Aureus Asset Management LLC acquired a new position in shares of Neurocrine Biosciences in the 1st quarter valued at about $1,253,000. First Trust Advisors LP lifted its holdings in Neurocrine Biosciences by 97.0% in the first quarter. First Trust Advisors LP now owns 959,217 shares of the company's stock valued at $126,367,000 after acquiring an additional 472,408 shares during the period. Westpac Banking Corp lifted its holdings in Neurocrine Biosciences by 6.0% in the first quarter. Westpac Banking Corp now owns 1,615 shares of the company's stock valued at $213,000 after acquiring an additional 91 shares during the period. ABN Amro Investment Solutions boosted its position in Neurocrine Biosciences by 12.3% in the 1st quarter. ABN Amro Investment Solutions now owns 3,040 shares of the company's stock worth $400,000 after purchasing an additional 334 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in Neurocrine Biosciences by 12.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,630 shares of the company's stock worth $742,000 after purchasing an additional 614 shares in the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

Neurocrine Biosciences Stock Up 2.2%

Shares of NASDAQ NBIX opened at $163.41 on Friday. The firm has a 50-day simple moving average of $168.49 and a 200-day simple moving average of $147.45. The stock has a market capitalization of $16.61 billion, a price-to-earnings ratio of 23.96, a price-to-earnings-growth ratio of 0.56 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.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Canaccord Genuity Group lifted their price objective on shares of Neurocrine Biosciences from $200.00 to $210.00 and gave the company a "buy" rating in a report on Monday, August 3rd. Guggenheim raised their target price on Neurocrine Biosciences from $200.00 to $222.00 and gave the company a "buy" rating in a research report on Friday, July 31st. Piper Sandler lifted their price target on Neurocrine Biosciences from $207.00 to $210.00 and gave the company an "overweight" rating in a research note on Friday, July 31st. Zacks Research cut Neurocrine Biosciences from a "strong-buy" rating to a "hold" rating in a report on Tuesday. Finally, Stifel Nicolaus increased their price target on Neurocrine Biosciences from $188.00 to $215.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Neurocrine Biosciences has a consensus rating of "Moderate Buy" and a consensus target price of $201.50.

Insider Activity

In other news, insider Darin Lippoldt sold 10,000 shares of Neurocrine Biosciences stock in a transaction that occurred on Thursday, July 9th. The shares were 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 approximately $9,829,328.40. The trade was a 15.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephen A. Sherwin sold 25,000 shares of the company's stock in a transaction that occurred 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 in the company, valued at $2,621,975.20. This represents a 61.18% decrease in their ownership of the stock. 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 have sold 395,422 shares of company stock worth $62,448,693 over the last quarter. 4.60% of the stock is currently owned by corporate insiders.

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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