Renaissance Technologies LLC Acquires 180,100 Shares of Neurocrine Biosciences, Inc. $NBIX

Renaissance Technologies LLC increased its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 8.0% during the first quarter, Holdings Channel reports. The fund owned 2,418,897 shares of the company’s stock after acquiring an additional 180,100 shares during the quarter. Neurocrine Biosciences comprises about 0.5% of Renaissance Technologies LLC’s holdings, making the stock its 19th biggest holding. Renaissance Technologies LLC’s holdings in Neurocrine Biosciences were worth $318,665,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Nilsine Partners LLC acquired a new position in shares of Neurocrine Biosciences in the fourth quarter valued at approximately $1,197,000. Ruffer LLP acquired a new stake in Neurocrine Biosciences during the 4th quarter worth approximately $2,479,000. Nordea Investment Management AB boosted its stake in Neurocrine Biosciences by 81.3% in the 4th quarter. Nordea Investment Management AB now owns 27,202 shares of the company’s stock valued at $3,834,000 after purchasing an additional 12,195 shares during the period. SG Americas Securities LLC boosted its stake in Neurocrine Biosciences by 785.6% in the 4th quarter. SG Americas Securities LLC now owns 134,530 shares of the company’s stock valued at $19,080,000 after purchasing an additional 119,339 shares during the period. Finally, Robinhood Asset Management LLC acquired a new position in Neurocrine Biosciences in the 4th quarter valued at $5,715,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

Analyst Upgrades and Downgrades

NBIX has been the subject of a number of recent research reports. HC Wainwright boosted their target price on shares of Neurocrine Biosciences from $192.00 to $215.00 and gave the company a “buy” rating in a research report on Tuesday, April 7th. Sanford C. Bernstein started coverage on shares of Neurocrine Biosciences in a research note on Friday, May 22nd. They issued an “outperform” rating and a $221.00 price objective for the company. Morgan Stanley boosted their price objective on shares of Neurocrine Biosciences from $185.00 to $191.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. JPMorgan Chase & Co. increased their target price on shares of Neurocrine Biosciences from $177.00 to $185.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Finally, Wells Fargo & Company raised their target price on shares of Neurocrine Biosciences from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $194.05.

Insider Transactions at Neurocrine Biosciences

In other news, insider Julie Cooke sold 36,937 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $156.22, for a total value of $5,770,298.14. Following the completion of the transaction, the insider directly owned 22,374 shares in the company, valued at approximately $3,495,266.28. The trade was a 62.28% 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 Jude Onyia sold 11,000 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $160.25, for a total transaction of $1,762,750.00. Following the sale, the insider directly owned 25,846 shares of the company’s stock, valued at approximately $4,141,821.50. This trade represents a 29.85% 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 quarter, insiders sold 394,172 shares of company stock worth $62,221,181. Corporate insiders own 4.60% of the company’s stock.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ NBIX opened at $175.77 on Friday. The stock has a market capitalization of $17.67 billion, a P/E ratio of 27.08, a PEG ratio of 0.69 and a beta of 0.39. The stock’s fifty day moving average is $165.53 and its 200 day moving average is $144.95. Neurocrine Biosciences, Inc. has a 52 week low of $122.14 and a 52 week high of $181.18.

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.