Neurocrine Biosciences, Inc. $NBIX Stake Boosted by PKO BP BANKOWY Universal Pension Society JSC

Key Points

• PKO BP BANKOWY increased its Neurocrine Biosciences stake by 23.1% in the second quarter, holding 170,802 shares worth approximately $28.8 million. Institutional investors collectively own 92.59% of NBIX.
• Neurocrine shares opened at $159.82, down 1.0%, with a market capitalization of about $16.25 billion. The stock has traded between $122.14 and $186.12 over the past year.
• Analyst sentiment remains positive: NBIX has a consensus “Moderate Buy” rating and an average price target of $201.50, although company insiders sold about $62.4 million of stock during the latest quarter.

PKO BP BANKOWY Universal Pension Society JSC raised its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 23.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 170,802 shares of the company's stock after purchasing an additional 32,000 shares during the quarter. Neurocrine Biosciences makes up approximately 8.2% of PKO BP BANKOWY Universal Pension Society JSC's holdings, making the stock its 5th biggest position. PKO BP BANKOWY Universal Pension Society JSC owned about 0.17% of Neurocrine Biosciences worth $28,786,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of NBIX. AQR Capital Management LLC increased its position in Neurocrine Biosciences by 18.0% during the fourth quarter. AQR Capital Management LLC now owns 3,271,706 shares of the company's stock worth $462,652,000 after buying an additional 498,058 shares during the last quarter. Renaissance Technologies LLC increased its stake in Neurocrine Biosciences by 8.0% during the first quarter. Renaissance Technologies LLC now owns 2,418,897 shares of the company's stock valued at $318,665,000 after acquiring an additional 180,100 shares during the period. Geode Capital Management LLC increased its position in shares of Neurocrine Biosciences by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 2,059,282 shares of the company's stock valued at $291,342,000 after purchasing an additional 34,457 shares during the period. Los Angeles Capital Management LLC raised its stake in shares of Neurocrine Biosciences by 7.4% in the 4th quarter. Los Angeles Capital Management LLC now owns 1,291,278 shares of the company's stock valued at $178,248,000 after buying an additional 88,522 shares in the last quarter. Finally, Northern Trust Corp increased its stake in Neurocrine Biosciences by 31.9% in the fourth quarter. Northern Trust Corp now owns 1,221,184 shares of the company's stock valued at $173,201,000 after acquiring an additional 295,470 shares during the period. Institutional investors and hedge funds own 92.59% of the company's stock.

Neurocrine Biosciences Trading Down 1.0%

Shares of NASDAQ NBIX opened at $159.82 on Friday. The firm has a market cap of $16.25 billion, a PE ratio of 23.43, a PEG ratio of 0.58 and a beta of 0.39. Neurocrine Biosciences, Inc. has a 1-year low of $122.14 and a 1-year high of $186.12. The company has a fifty day moving average price of $168.39 and a 200 day moving average price of $147.34.

Insider Buying and Selling

In other news, Director Leslie V. Norwalk sold 1,250 shares of the firm'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 completion of the sale, the director directly owned 1,588 shares of the company's stock, valued at $289,031.88. This trade represents a 44.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at 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 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 sale, the director directly owned 15,860 shares of the company's stock, valued at $2,621,975.20. This represents a 61.18% decrease in their position. 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 quarter, insiders have sold 395,422 shares of company stock worth $62,448,693. 4.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Needham & Company LLC increased their target price on shares of Neurocrine Biosciences from $200.00 to $204.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. The Goldman Sachs Group assumed coverage on Neurocrine Biosciences in a research report on Tuesday, June 2nd. They set a "buy" rating and a $213.00 target price for the company. 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 note on Friday, July 31st. Wall Street Zen downgraded Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 1st. Finally, Leerink Partners increased their price target on Neurocrine Biosciences from $160.00 to $170.00 and gave the company an "outperform" rating in a research note on Wednesday, April 22nd. 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 company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $201.50.

Neurocrine Biosciences Company 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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