Exchange Traded Concepts LLC Increases Stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Exchange Traded Concepts LLC raised its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 2.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,133 shares of the company’s stock after purchasing an additional 169 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Neurocrine Biosciences were worth $1,110,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Brooklyn Investment Group raised its holdings in Neurocrine Biosciences by 99.1% in the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock worth $32,000 after acquiring an additional 115 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Neurocrine Biosciences by 171.9% in the third quarter. Blue Trust Inc. now owns 348 shares of the company’s stock worth $40,000 after purchasing an additional 220 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of Neurocrine Biosciences by 211.6% during the fourth quarter. UMB Bank n.a. now owns 455 shares of the company’s stock valued at $62,000 after purchasing an additional 309 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in shares of Neurocrine Biosciences by 42.0% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 531 shares of the company’s stock valued at $72,000 after buying an additional 157 shares during the last quarter. Finally, Truvestments Capital LLC bought a new stake in Neurocrine Biosciences in the 3rd quarter worth about $63,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Neurocrine Biosciences

In other news, insider Ingrid Delaet sold 272 shares of the firm’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $138.10, for a total transaction of $37,563.20. Following the completion of the transaction, the insider now owns 2,507 shares in the company, valued at $346,216.70. This trade represents a 9.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Kyle Gano sold 65,000 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $141.50, for a total value of $9,197,500.00. Following the completion of the sale, the chief executive officer now owns 135,392 shares in the company, valued at $19,157,968. This represents a 32.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 68,694 shares of company stock valued at $9,676,730 in the last three months. 4.30% of the stock is currently owned by corporate insiders.

Neurocrine Biosciences Trading Down 0.4 %

Shares of NBIX opened at $148.19 on Tuesday. The business’s 50 day moving average is $134.09 and its 200 day moving average is $131.27. Neurocrine Biosciences, Inc. has a 12-month low of $110.95 and a 12-month high of $157.98. The company has a market capitalization of $15.00 billion, a PE ratio of 39.73 and a beta of 0.33.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on NBIX shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Neurocrine Biosciences in a report on Friday, December 20th. Piper Sandler reaffirmed an “overweight” rating and issued a $160.00 target price on shares of Neurocrine Biosciences in a research report on Monday, December 23rd. Royal Bank of Canada dropped their price target on Neurocrine Biosciences from $136.00 to $133.00 and set a “sector perform” rating on the stock in a research note on Friday, October 4th. BMO Capital Markets reduced their price objective on Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating for the company in a research report on Thursday, October 17th. Finally, UBS Group raised their target price on Neurocrine Biosciences from $142.00 to $162.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Neurocrine Biosciences presently has an average rating of “Moderate Buy” and a consensus target price of $165.40.

About Neurocrine Biosciences

Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, neuroendocrine, and neuropsychiatric disorders in the United States and internationally. The company’s products include INGREZZA for tardive dyskinesia and chorea associated with Huntington’s disease; ALKINDI for adrenal insufficiency; Efmody capsules for classic congenital adrenal hyperplasia; Orilissa tablets for endometriosis; and Oriahnn capsules to treat uterine fibroids.