Mediolanum International Funds Ltd Has $1.30 Million Position in Neurocrine Biosciences, Inc. $NBIX

Mediolanum International Funds Ltd lessened its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 80.4% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,094 shares of the company’s stock after selling 41,312 shares during the period. Mediolanum International Funds Ltd’s holdings in Neurocrine Biosciences were worth $1,299,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of NBIX. USA Financial Formulas acquired a new position in shares of Neurocrine Biosciences during the 4th quarter worth approximately $25,000. Geneos Wealth Management Inc. boosted its holdings in shares of Neurocrine Biosciences by 143.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after buying an additional 135 shares during the last quarter. DJE Kapital AG acquired a new stake in shares of Neurocrine Biosciences in the 4th quarter valued at approximately $28,000. Meeder Asset Management Inc. grew its stake in shares of Neurocrine Biosciences by 651.6% in the fourth quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock valued at $33,000 after buying an additional 202 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Neurocrine Biosciences in the fourth quarter valued at $39,000. 92.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Wedbush upped their price target on shares of Neurocrine Biosciences from $166.00 to $176.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Piper Sandler lifted their price objective on shares of Neurocrine Biosciences from $190.00 to $207.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. BMO Capital Markets boosted their price objective on shares of Neurocrine Biosciences from $144.00 to $170.00 and gave the stock a “market perform” rating in a research note on Monday, July 13th. Needham & Company LLC restated a “buy” rating and set a $185.00 price objective on shares of Neurocrine Biosciences in a research note on Monday, April 6th. Finally, Royal Bank Of Canada upped their target price on shares of Neurocrine Biosciences from $183.00 to $195.00 and gave the company an “outperform” rating in a report on Tuesday, July 7th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Neurocrine Biosciences has an average rating of “Moderate Buy” and an average target price of $194.05.

Neurocrine Biosciences Stock Up 3.5%

Shares of Neurocrine Biosciences stock opened at $179.05 on Wednesday. Neurocrine Biosciences, Inc. has a twelve month low of $122.14 and a twelve month high of $181.18. The company has a 50-day simple moving average of $164.65 and a two-hundred day simple moving average of $144.28. The stock has a market capitalization of $18.00 billion, a price-to-earnings ratio of 27.59, a price-to-earnings-growth ratio of 0.69 and a beta of 0.39.

Insider Activity at Neurocrine Biosciences

In other news, insider Jude Onyia sold 11,000 shares of Neurocrine Biosciences stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $160.25, for a total value of $1,762,750.00. Following the completion of the sale, the insider directly owned 25,846 shares in the company, valued at approximately $4,141,821.50. The trade was a 29.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kevin Charles Gorman sold 245,088 shares of Neurocrine Biosciences stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $154.33, for a total transaction of $37,824,431.04. Following the completion of the sale, the director owned 511,293 shares of the company’s stock, valued at approximately $78,907,848.69. The trade was a 32.40% 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. In the last three months, insiders sold 394,172 shares of company stock valued at $62,221,181. 4.60% of the stock is currently owned by company insiders.

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.