S&CO Inc. Makes New Investment in Neurocrine Biosciences, Inc. $NBIX

Key Points

• S&CO Inc. acquired 7,000 shares of Neurocrine Biosciences during the second quarter, valued at approximately $1.18 million. Institutional investors and hedge funds collectively own 92.59% of NBIX.
• Analysts remain broadly bullish, with one Strong Buy, 19 Buy, and four Hold ratings. The stock has a consensus “Moderate Buy” rating and an average price target of $200.86.
• Neurocrine insiders have been net sellers, disposing of 376,612 shares worth about $59.5 million over the past 90 days, while corporate insiders currently own 4.60% of the company.

S&CO Inc. acquired a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 7,000 shares of the company's stock, valued at approximately $1,179,000.

A number of other hedge funds also recently made changes to their positions in NBIX. Royal Bank of Canada increased its holdings in shares of Neurocrine Biosciences by 36.7% during the 1st quarter. Royal Bank of Canada now owns 82,810 shares of the company's stock worth $9,158,000 after acquiring an additional 22,224 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Neurocrine Biosciences by 60.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,783 shares of the company's stock valued at $1,647,000 after purchasing an additional 5,577 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in Neurocrine Biosciences by 56.3% during the 1st quarter. NewEdge Advisors LLC now owns 7,630 shares of the company's stock valued at $844,000 after purchasing an additional 2,747 shares during the last quarter. Empowered Funds LLC bought a new position in Neurocrine Biosciences during the first quarter worth $1,333,000. Finally, Geneos Wealth Management Inc. boosted its position in Neurocrine Biosciences by 143.6% during the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company's stock worth $25,000 after purchasing an additional 135 shares during the period. 92.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NBIX has been the topic of a number of research reports. Truist Financial upped their price target on shares of Neurocrine Biosciences from $200.00 to $213.00 and gave the company a "buy" rating in a research note on Monday, August 3rd. Citigroup raised their price objective on shares of Neurocrine Biosciences from $246.00 to $249.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. The Goldman Sachs Group began coverage on Neurocrine Biosciences in a report on Tuesday, June 2nd. They set a "buy" rating and a $213.00 price objective for the company. JPMorgan Chase & Co. upped their target price on Neurocrine Biosciences from $177.00 to $185.00 and gave the company an "overweight" rating in a research report on Friday, May 8th. Finally, Leerink Partners increased their target price on Neurocrine Biosciences from $160.00 to $170.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 22nd. One 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 currently has a consensus rating of "Moderate Buy" and a consensus price target of $200.86.

Insider Buying and Selling

In other Neurocrine Biosciences news, Director Stephen A. Sherwin sold 25,000 shares of the firm's stock in a transaction on Friday, June 5th. The stock was sold at an average price of $165.32, for a total transaction of $4,133,000.00. Following the transaction, the director owned 15,860 shares in the company, valued at $2,621,975.20. This trade represents a 61.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ingrid Delaet sold 4,367 shares of Neurocrine Biosciences stock in a transaction on Friday, July 10th. The shares were sold at an average price of $181.02, for a total value of $790,514.34. Following the completion of the transaction, the insider directly owned 16,225 shares of the company's stock, valued at $2,937,049.50. This represents a 21.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 376,612 shares of company stock valued at $59,493,355. 4.60% of the stock is currently owned by corporate insiders.

Neurocrine Biosciences Stock Up 1.3%

Shares of NASDAQ:NBIX opened at $152.72 on Friday. Neurocrine Biosciences, Inc. has a 12-month low of $122.14 and a 12-month high of $186.12. The company's 50 day moving average price is $167.98 and its two-hundred day moving average price is $148.23. The firm has a market cap of $15.52 billion, a PE ratio of 22.39, a PEG ratio of 0.54 and a beta of 0.39.

About Neurocrine Biosciences

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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