Thrivent Financial for Lutherans Cuts Stock Position in Neurocrine Biosciences, Inc. $NBIX

Key Points

• Thrivent Financial for Lutherans cut its Neurocrine Biosciences stake by 84.2% in the fourth quarter, selling 481,467 shares and leaving it with 90,318 shares worth about $12.8 million.
• Other institutional investors showed mixed activity, with firms like JPMorgan Chase, AQR Capital Management, and UBS Group increasing their holdings; overall, institutional ownership remains high at 92.59%.
• Two company directors recently sold shares under pre-arranged 10b5-1 plans, while analysts remain generally bullish on NBIX with a consensus “Moderate Buy” rating and a price target of $184.15.

Thrivent Financial for Lutherans trimmed its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 84.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 90,318 shares of the company's stock after selling 481,467 shares during the period. Thrivent Financial for Lutherans owned approximately 0.09% of Neurocrine Biosciences worth $12,809,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of NBIX. JPMorgan Chase & Co. lifted its stake in shares of Neurocrine Biosciences by 11.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,730,152 shares of the company's stock worth $664,019,000 after acquiring an additional 468,405 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Neurocrine Biosciences by 83.7% in the third quarter. AQR Capital Management LLC now owns 2,773,648 shares of the company's stock valued at $388,435,000 after acquiring an additional 1,263,633 shares in the last quarter. Deerfield Management Company L.P. increased its stake in shares of Neurocrine Biosciences by 1.4% during the third quarter. Deerfield Management Company L.P. now owns 1,184,345 shares of the company's stock worth $166,258,000 after acquiring an additional 16,543 shares during the period. UBS Group AG increased its stake in shares of Neurocrine Biosciences by 169.8% during the fourth quarter. UBS Group AG now owns 983,528 shares of the company's stock worth $139,494,000 after acquiring an additional 618,956 shares during the period. Finally, Pictet Asset Management Holding SA raised its holdings in Neurocrine Biosciences by 12.0% during the fourth quarter. Pictet Asset Management Holding SA now owns 776,934 shares of the company's stock worth $110,305,000 after purchasing an additional 83,488 shares in the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Richard F. Pops sold 15,000 shares of Neurocrine Biosciences stock in a transaction on Friday, May 15th. The stock was sold at an average price of $157.65, for a total transaction of $2,364,750.00. Following the completion of the transaction, the director directly owned 34,480 shares of the company's stock, valued at approximately $5,435,772. The trade was a 30.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Leslie V. Norwalk sold 3,810 shares of the business's stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $155.01, for a total value of $590,588.10. Following the sale, the director owned 2,429 shares in the company, valued at approximately $376,519.29. The trade was a 61.07% decrease in their ownership of the stock. 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. Corporate insiders own 4.60% of the company's stock.

Neurocrine Biosciences Trading Down 0.8%

Shares of NBIX opened at $157.21 on Tuesday. Neurocrine Biosciences, Inc. has a twelve month low of $117.59 and a twelve month high of $162.39. The firm has a market capitalization of $15.81 billion, a P/E ratio of 24.22, a PEG ratio of 1.19 and a beta of 0.34. The firm's 50-day moving average is $134.60 and its two-hundred day moving average is $138.45.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Citigroup lifted their price objective on Neurocrine Biosciences from $242.00 to $246.00 and gave the company a "buy" rating in a report on Wednesday, May 6th. Wolfe Research assumed coverage on Neurocrine Biosciences in a research note on Tuesday, February 24th. They set an "outperform" rating and a $160.00 target price for the company. Needham & Company LLC reissued a "buy" rating and issued a $185.00 price target on shares of Neurocrine Biosciences in a report on Monday, April 6th. Zacks Research upgraded Neurocrine Biosciences from a "strong sell" rating to a "hold" rating in a research note on Wednesday, April 15th. Finally, Royal Bank Of Canada upped their price objective on Neurocrine Biosciences from $176.00 to $180.00 and gave the stock an "outperform" rating in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $184.15.

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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