Oppenheimer Asset Management Inc. Acquires Shares of 14,783 Neurocrine Biosciences, Inc. $NBIX

Key Points

• Oppenheimer Asset Management acquired 14,783 Neurocrine Biosciences shares worth approximately $2.49 million during the second quarter. Institutional investors collectively own 92.59% of NBIX.
• NBIX opened at $152.72, with a market capitalization of $15.52 billion and a 52-week range of $122.14 to $186.12.
• Analysts remain broadly positive, with a “Moderate Buy” consensus and an average price target of $200.86, while insiders sold 376,612 shares valued at $59.5 million over the past quarter.

Oppenheimer Asset Management Inc. bought a new stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 14,783 shares of the company's stock, valued at approximately $2,491,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NBIX. DJE Kapital AG purchased a new position in Neurocrine Biosciences during the 4th quarter valued at about $28,000. Geneos Wealth Management Inc. increased its stake in shares of Neurocrine Biosciences by 143.6% during the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company's stock valued at $25,000 after purchasing an additional 135 shares in the last quarter. Meeder Asset Management Inc. increased its stake in shares of Neurocrine Biosciences by 651.6% during the fourth quarter. Meeder Asset Management Inc. now owns 233 shares of the company's stock valued at $33,000 after purchasing an additional 202 shares in the last quarter. Basecamp Wealth Advisors LLC increased its stake in shares of Neurocrine Biosciences by 582.9% during the first quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company's stock valued at $31,000 after purchasing an additional 204 shares in the last quarter. Finally, Cassaday & Co Wealth Management LLC purchased a new position in shares of Neurocrine Biosciences during the first quarter valued at approximately $33,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

Neurocrine Biosciences Price Performance

NBIX stock opened at $152.72 on Monday. The stock has a market capitalization of $15.52 billion, a P/E ratio of 22.39, a P/E/G ratio of 0.67 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 business has a fifty day moving average price of $167.98 and a 200-day moving average price of $148.33.

Insiders Place Their Bets

In other Neurocrine Biosciences news, Director Leslie V. Norwalk sold 1,250 shares of the business's stock in a transaction dated 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 transaction, the director owned 1,588 shares of the company's stock, valued at approximately $289,031.88. The trade was a 44.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Darin Lippoldt sold 10,000 shares of the company's stock in a transaction dated 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 transaction, the insider owned 54,729 shares in the company, valued at $9,829,328.40. This represents a 15.45% decrease in their position. 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 a total of 376,612 shares of company stock valued at $59,493,355 over the last quarter. Corporate insiders own 4.60% of the company's stock.

Analyst Ratings Changes

NBIX has been the topic of a number of analyst reports. Cantor Fitzgerald boosted their price target on Neurocrine Biosciences from $210.00 to $215.00 and gave the stock an "overweight" rating in a research report on Friday, July 31st. Guggenheim lifted their price objective on Neurocrine Biosciences from $200.00 to $222.00 and gave the company a "buy" rating in a research note on Friday, July 31st. The Goldman Sachs Group started coverage on Neurocrine Biosciences in a report on Tuesday, June 2nd. They issued a "buy" rating and a $213.00 target price on the stock. Truist Financial raised their price target on Neurocrine Biosciences from $200.00 to $213.00 and gave the company a "buy" rating in a report on Monday, August 3rd. Finally, Citigroup lifted their price target on Neurocrine Biosciences from $246.00 to $249.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Neurocrine Biosciences has an average rating of "Moderate Buy" and an average price target of $200.86.

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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