Neurocrine Biosciences, Inc. $NBIX Shares Purchased by Pacer Advisors Inc.

Pacer Advisors Inc. raised its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 471.3% during the first quarter, HoldingsChannel reports. The fund owned 169,230 shares of the company’s stock after acquiring an additional 139,609 shares during the quarter. Pacer Advisors Inc.’s holdings in Neurocrine Biosciences were worth $22,294,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Carmignac Gestion increased its position in shares of Neurocrine Biosciences by 192.5% in the 1st quarter. Carmignac Gestion now owns 186,000 shares of the company’s stock worth $24,504,000 after purchasing an additional 122,400 shares during the last quarter. Defilade Capital Management L.P. bought a new position in shares of Neurocrine Biosciences during the first quarter worth about $27,656,000. Parallel Advisors LLC lifted its position in shares of Neurocrine Biosciences by 12.3% during the first quarter. Parallel Advisors LLC now owns 1,776 shares of the company’s stock worth $234,000 after purchasing an additional 195 shares during the last quarter. NewEdge Advisors LLC grew its stake in Neurocrine Biosciences by 0.5% in the first quarter. NewEdge Advisors LLC now owns 13,066 shares of the company’s stock worth $1,721,000 after purchasing an additional 68 shares in the last quarter. Finally, Segall Bryant & Hamill LLC grew its stake in Neurocrine Biosciences by 0.8% in the first quarter. Segall Bryant & Hamill LLC now owns 56,934 shares of the company’s stock worth $7,500,000 after purchasing an additional 464 shares in the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Neurocrine Biosciences news, Director Leslie V. Norwalk sold 1,250 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $182.01, for a total value of $227,512.50. Following the sale, the director owned 1,588 shares in the company, valued at approximately $289,031.88. This trade represents a 44.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Darin Lippoldt sold 10,000 shares of Neurocrine Biosciences stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $179.60, for a total value of $1,796,000.00. Following the sale, the insider directly owned 54,729 shares in the company, valued at approximately $9,829,328.40. This trade represents a 15.45% 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. In the last quarter, insiders have sold 395,422 shares of company stock valued at $62,448,693. 4.60% of the stock is owned by company insiders.

Neurocrine Biosciences Stock Performance

Shares of NBIX opened at $166.23 on Tuesday. Neurocrine Biosciences, Inc. has a 1 year low of $122.14 and a 1 year high of $186.12. The company has a market cap of $16.71 billion, a price-to-earnings ratio of 24.37, a price-to-earnings-growth ratio of 0.70 and a beta of 0.39. The firm has a fifty day moving average of $168.00 and a 200-day moving average of $146.73.

Analyst Ratings Changes

Several analysts have issued reports on the company. Wells Fargo & Company upped their price objective on Neurocrine Biosciences from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, July 17th. Piper Sandler upped their price target on Neurocrine Biosciences from $207.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday. Canaccord Genuity Group lifted their price objective on shares of Neurocrine Biosciences from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Monday. Wall Street Zen lowered shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Finally, Guggenheim raised their price target on shares of Neurocrine Biosciences from $200.00 to $222.00 and gave the stock a “buy” rating in a research report on Friday. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $201.50.

Trending Headlines about Neurocrine Biosciences

Here are the key news stories impacting Neurocrine Biosciences this week:

• Positive Sentiment: Canaccord Genuity raised its price target from $200 to $210 and upgraded or reaffirmed its rating at “buy,” implying approximately 26% upside. Benzinga analyst price-target report
• Positive Sentiment: Truist Financial increased its target from $200 to $213 and assigned a “buy” rating, representing roughly 28% potential upside. Benzinga analyst price-target report
• Positive Sentiment: Wedbush raised its target from $185 to $194 and maintained an “outperform” rating, indicating about 17% upside. Benzinga analyst price-target report
• Positive Sentiment: Additional analysts also lifted their targets to $198, $196, $215, $210, $220, $249 and $222, reinforcing the positive trend in sell-side expectations. Neurocrine Biosciences price target raised to $198 Neurocrine Biosciences price target raised to $196 Neurocrine Biosciences price target raised to $215 Neurocrine Biosciences price target raised to $220 Neurocrine Biosciences price target raised to $249 Neurocrine Biosciences price target raised to $222

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.