Neurocrine Biosciences, Inc. $NBIX Shares Purchased by Pacer Advisors Inc.

Key Points

• Pacer Advisors increased its Neurocrine Biosciences stake by 471.3% in the first quarter, acquiring 139,609 additional shares and ending with a position worth approximately $22.3 million. Institutional investors collectively own 92.59% of NBIX.
• Analyst sentiment remains positive: multiple firms raised price targets, including Truist to $213, Wedbush to $194 and TD Cowen to $220. The stock has a “Moderate Buy” consensus rating and an average target price of $201.50.
• Company insiders sold 395,422 shares worth approximately $62.4 million during the last quarter, including sales by Julie Cooke and Jude Onyia under pre-arranged Rule 10b5-1 trading plans.

Pacer Advisors Inc. raised its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 471.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 169,230 shares of the company's stock after buying an additional 139,609 shares during the quarter. Pacer Advisors Inc. owned approximately 0.17% of Neurocrine Biosciences worth $22,294,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Carmignac Gestion boosted its position in shares of Neurocrine Biosciences by 192.5% in the first quarter. Carmignac Gestion now owns 186,000 shares of the company's stock worth $24,504,000 after acquiring an additional 122,400 shares during the last quarter. Defilade Capital Management L.P. acquired a new position in Neurocrine Biosciences during the first quarter worth approximately $27,656,000. Parallel Advisors LLC increased its position in Neurocrine Biosciences by 12.3% during the first quarter. Parallel Advisors LLC now owns 1,776 shares of the company's stock worth $234,000 after purchasing an additional 195 shares during the last quarter. NewEdge Advisors LLC raised its stake in Neurocrine Biosciences by 0.5% during the first quarter. NewEdge Advisors LLC now owns 13,066 shares of the company's stock worth $1,721,000 after purchasing an additional 68 shares during the period. Finally, Segall Bryant & Hamill LLC raised its stake in Neurocrine Biosciences by 0.8% during the first quarter. Segall Bryant & Hamill LLC now owns 56,934 shares of the company's stock worth $7,500,000 after purchasing an additional 464 shares during the period. Institutional investors and hedge funds own 92.59% of the company's stock.

Neurocrine Biosciences News Roundup

Here are the key news stories impacting Neurocrine Biosciences this week:

• Positive Sentiment: Canaccord Genuity raised its price target from $200 to $210 and upgraded or reaffirmed its rating at “buy,” implying approximately 26% upside. Benzinga analyst price-target report
• Positive Sentiment: Truist Financial increased its target from $200 to $213 and assigned a “buy” rating, representing roughly 28% potential upside. Benzinga analyst price-target report
• Positive Sentiment: Wedbush raised its target from $185 to $194 and maintained an “outperform” rating, indicating about 17% upside. Benzinga analyst price-target report
• Positive Sentiment: Additional analysts also lifted their targets to $198, $196, $215, $210, $220, $249 and $222, reinforcing the positive trend in sell-side expectations. Neurocrine Biosciences price target raised to $198 Neurocrine Biosciences price target raised to $196 Neurocrine Biosciences price target raised to $215 Neurocrine Biosciences price target raised to $220 Neurocrine Biosciences price target raised to $249 Neurocrine Biosciences price target raised to $222

Insider Buying and Selling

In other news, insider Julie Cooke sold 36,937 shares of the firm's stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $156.22, for a total transaction of $5,770,298.14. Following the completion of the sale, the insider directly owned 22,374 shares in the company, valued at $3,495,266.28. This trade represents a 62.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jude Onyia sold 11,000 shares of Neurocrine Biosciences stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $160.25, for a total value of $1,762,750.00. Following the sale, the insider directly owned 25,846 shares in the company, valued at approximately $4,141,821.50. The trade was a 29.85% 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. Insiders sold a total of 395,422 shares of company stock worth $62,448,693 over the last quarter. Company insiders own 4.60% of the company's stock.

Analyst Ratings Changes

NBIX has been the topic of a number of research analyst reports. Wedbush lifted their price target on shares of Neurocrine Biosciences from $185.00 to $194.00 and gave the company an "outperform" rating in a report on Monday. Weiss Ratings raised Neurocrine Biosciences from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, July 28th. BMO Capital Markets lifted their target price on Neurocrine Biosciences from $144.00 to $170.00 and gave the company a "market perform" rating in a report on Monday, July 13th. Truist Financial boosted their price target on Neurocrine Biosciences from $200.00 to $213.00 and gave the company a "buy" rating in a research report on Monday. Finally, TD Cowen boosted their price target on Neurocrine Biosciences from $200.00 to $220.00 and gave the company a "buy" rating in a research report on Friday. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $201.50.

Neurocrine Biosciences Trading Down 0.3%

NBIX opened at $166.23 on Tuesday. Neurocrine Biosciences, Inc. has a twelve month low of $122.14 and a twelve month high of $186.12. The firm has a market cap of $16.71 billion, a price-to-earnings ratio of 24.37, a PEG ratio of 0.70 and a beta of 0.39. The company has a fifty day simple moving average of $168.00 and a 200 day simple moving average of $146.73.

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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