Entropy Technologies LP Acquires Shares of 22,523 Neurocrine Biosciences, Inc. $NBIX

Entropy Technologies LP acquired a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 22,523 shares of the company’s stock, valued at approximately $3,194,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in Neurocrine Biosciences by 11.0% in the third quarter. JPMorgan Chase & Co. now owns 4,730,152 shares of the company’s stock valued at $664,019,000 after acquiring an additional 468,405 shares during the period. AQR Capital Management LLC grew its stake in 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 during the period. Geode Capital Management LLC grew its stake in Neurocrine Biosciences by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 2,059,282 shares of the company’s stock valued at $291,342,000 after acquiring an additional 34,457 shares during the period. Los Angeles Capital Management LLC grew its stake in Neurocrine Biosciences by 7.4% in the fourth quarter. Los Angeles Capital Management LLC now owns 1,291,278 shares of the company’s stock valued at $178,248,000 after acquiring an additional 88,522 shares during the period. Finally, Deerfield Management Company L.P. grew its stake in Neurocrine Biosciences by 1.4% in the third quarter. Deerfield Management Company L.P. now owns 1,184,345 shares of the company’s stock valued at $166,258,000 after acquiring an additional 16,543 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Analyst Upgrades and Downgrades

NBIX has been the topic of several analyst reports. Canaccord Genuity Group lifted their target price on Neurocrine Biosciences from $164.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, April 7th. Morgan Stanley lifted their price target on Neurocrine Biosciences from $185.00 to $191.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Truist Financial lifted their price target on Neurocrine Biosciences from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Wolfe Research started coverage on Neurocrine Biosciences in a report on Tuesday, February 24th. They set an “outperform” rating and a $160.00 price target on the stock. Finally, Guggenheim reiterated a “buy” rating and set a $175.00 price target on shares of Neurocrine Biosciences in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $187.52.

Neurocrine Biosciences Price Performance

Shares of NBIX opened at $159.76 on Monday. The firm has a market cap of $16.06 billion, a PE ratio of 24.62, a PEG ratio of 1.20 and a beta of 0.39. The stock’s fifty day moving average price is $145.89 and its two-hundred day moving average price is $140.48. Neurocrine Biosciences, Inc. has a 1 year low of $122.14 and a 1 year high of $169.57.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Ingrid Delaet sold 2,261 shares of the business’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $156.71, for a total value of $354,321.31. Following the sale, the insider directly owned 16,225 shares in the company, valued at $2,542,619.75. The trade was a 12.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Julie Cooke sold 36,937 shares of the business’s stock in a transaction 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 sale, the insider owned 22,374 shares in the company, valued at approximately $3,495,266.28. The trade was a 62.28% 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. Over the last 90 days, insiders sold 355,234 shares of company stock valued at $55,330,060. 4.60% of the stock is currently owned by 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.