First Financial Bankshares Inc Boosts Stake in Neurocrine Biosciences, Inc. $NBIX

First Financial Bankshares Inc raised its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 33.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,853 shares of the company’s stock after purchasing an additional 9,427 shares during the quarter. First Financial Bankshares Inc’s holdings in Neurocrine Biosciences were worth $5,369,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nilsine Partners LLC purchased a new stake in Neurocrine Biosciences in the 4th quarter worth about $1,197,000. Ruffer LLP purchased a new stake in Neurocrine Biosciences in the 4th quarter worth about $2,479,000. Korea Investment CORP raised its position in Neurocrine Biosciences by 94.3% in the 3rd quarter. Korea Investment CORP now owns 71,689 shares of the company’s stock worth $10,064,000 after purchasing an additional 34,800 shares during the period. Envestnet Asset Management Inc. raised its position in Neurocrine Biosciences by 2.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 202,846 shares of the company’s stock worth $28,476,000 after purchasing an additional 4,807 shares during the period. Finally, Nordea Investment Management AB raised its position in Neurocrine Biosciences by 81.3% in the 4th quarter. Nordea Investment Management AB now owns 27,202 shares of the company’s stock worth $3,834,000 after purchasing an additional 12,195 shares during the period. 92.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Leerink Partners increased their price objective on shares of Neurocrine Biosciences from $160.00 to $170.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. The Goldman Sachs Group assumed coverage on shares of Neurocrine Biosciences in a research report on Tuesday, June 2nd. They issued a “buy” rating and a $213.00 price objective on the stock. Wolfe Research assumed coverage on shares of Neurocrine Biosciences in a research report on Tuesday, February 24th. They issued an “outperform” rating and a $160.00 price objective on the stock. JPMorgan Chase & Co. increased their price objective 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, Sanford C. Bernstein began coverage on shares of Neurocrine Biosciences in a research note on Friday, May 22nd. They issued an “outperform” rating and a $221.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $187.52.

Neurocrine Biosciences Price Performance

Shares of NBIX stock opened at $162.71 on Friday. The company has a market capitalization of $16.36 billion, a P/E ratio of 25.07, a P/E/G ratio of 1.21 and a beta of 0.40. The company’s 50-day simple moving average is $145.35 and its two-hundred day simple moving average is $140.35. Neurocrine Biosciences, Inc. has a one year low of $122.14 and a one year high of $169.57.

Insiders Place Their Bets

In other Neurocrine Biosciences news, insider Jude Onyia sold 11,000 shares of the company’s stock in a transaction dated 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 transaction, the insider directly owned 25,846 shares in the company, valued at $4,141,821.50. This represents a 29.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Julie Cooke sold 36,937 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $156.22, for a total transaction of $5,770,298.14. Following the completion of the transaction, the insider owned 22,374 shares in the company, valued at $3,495,266.28. This represents a 62.28% 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. Over the last three months, insiders sold 355,234 shares of company stock worth $55,330,060. 4.60% of the stock is owned by company insiders.

Neurocrine Biosciences 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.