Pacer Advisors Inc. Purchases 16,257 Shares of Neurocrine Biosciences, Inc. $NBIX

Key Points

• Pacer Advisors Inc. boosted its stake in Neurocrine Biosciences by 121.6% in the fourth quarter, adding 16,257 shares to hold 29,621 shares valued at about $4.2 million.
• Neurocrine Biosciences shares were trading at $161.62, up 2.1%, with the stock sitting below its 52-week high of $169.57 but above its 50-day and 200-day moving averages.
• Wall Street remains constructive on the stock, with a consensus rating of Moderate Buy and an average price target of $187.52, even as insiders recently sold shares in pre-arranged transactions.

Pacer Advisors Inc. increased its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 121.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,621 shares of the company's stock after purchasing an additional 16,257 shares during the period. Pacer Advisors Inc.'s holdings in Neurocrine Biosciences were worth $4,201,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Huntington National Bank increased its position in Neurocrine Biosciences by 12.6% during the 4th quarter. Huntington National Bank now owns 678 shares of the company's stock worth $96,000 after buying an additional 76 shares during the period. Perigon Wealth Management LLC increased its position in Neurocrine Biosciences by 3.1% during the fourth quarter. Perigon Wealth Management LLC now owns 2,590 shares of the company's stock worth $367,000 after acquiring an additional 78 shares during the period. Motley Fool Asset Management LLC increased its position in Neurocrine Biosciences by 4.8% during the fourth quarter. Motley Fool Asset Management LLC now owns 1,693 shares of the company's stock worth $240,000 after acquiring an additional 78 shares during the period. Main Management ETF Advisors LLC raised its stake in Neurocrine Biosciences by 1.0% in the 4th quarter. Main Management ETF Advisors LLC now owns 7,830 shares of the company's stock worth $1,111,000 after purchasing an additional 80 shares in the last quarter. Finally, Signaturefd LLC raised its stake in Neurocrine Biosciences by 4.5% in the 4th quarter. Signaturefd LLC now owns 1,925 shares of the company's stock worth $273,000 after purchasing an additional 83 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors.

Neurocrine Biosciences Trading Up 2.1%

Shares of NASDAQ:NBIX opened at $161.62 on Tuesday. The firm has a 50 day moving average of $149.13 and a 200-day moving average of $140.84. The stock has a market capitalization of $16.25 billion, a PE ratio of 24.90, a PEG ratio of 1.19 and a beta of 0.39. Neurocrine Biosciences, Inc. has a 12 month low of $122.14 and a 12 month high of $169.57.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on NBIX shares. Truist Financial increased their target price on shares of Neurocrine Biosciences from $140.00 to $155.00 and gave the stock a "buy" rating in a research report on Thursday, May 7th. JPMorgan Chase & Co. lifted their price target on shares of Neurocrine Biosciences from $177.00 to $185.00 and gave the company an "overweight" rating in a research report on Friday, May 8th. Piper Sandler boosted their price target on Neurocrine Biosciences from $190.00 to $207.00 and gave the company an "overweight" rating in a research note on Wednesday, May 6th. Wolfe Research assumed coverage on Neurocrine Biosciences in a research report on Tuesday, February 24th. They set an "outperform" rating and a $160.00 price target on the stock. Finally, Wall Street Zen upgraded Neurocrine Biosciences from a "buy" rating to a "strong-buy" rating in a research note on Saturday, April 25th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $187.52.

Insider Activity

In other Neurocrine Biosciences news, insider Julie Cooke sold 36,937 shares of the firm's stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $156.22, for a total value of $5,770,298.14. Following the sale, the insider owned 22,374 shares of the company's stock, valued at approximately $3,495,266.28. This trade represents a 62.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Leslie V. Norwalk sold 1,250 shares of Neurocrine Biosciences stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $168.06, for a total value of $210,075.00. Following the completion of the transaction, the director owned 2,838 shares in the company, valued at approximately $476,954.28. The trade was a 30.58% decrease in their position. 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. Over the last ninety days, insiders sold 355,234 shares of company stock valued at $55,330,060. Corporate insiders own 4.60% of the company's stock.

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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