Wesbanco Bank Inc. Invests $1.26 Million in Neurocrine Biosciences, Inc. $NBIX

Wesbanco Bank Inc. purchased a new position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the third quarter, Holdings Channel reports. The firm purchased 9,000 shares of the company’s stock, valued at approximately $1,263,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of NBIX. Dodge & Cox grew its stake in Neurocrine Biosciences by 0.6% during the second quarter. Dodge & Cox now owns 5,566,814 shares of the company’s stock worth $699,693,000 after buying an additional 32,190 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Neurocrine Biosciences by 59.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,261,747 shares of the company’s stock worth $535,659,000 after acquiring an additional 1,590,749 shares during the period. AQR Capital Management LLC boosted its position in shares of Neurocrine Biosciences by 40.5% during the 2nd quarter. AQR Capital Management LLC now owns 1,510,015 shares of the company’s stock worth $189,794,000 after acquiring an additional 435,385 shares in the last quarter. Norges Bank acquired a new stake in shares of Neurocrine Biosciences during the 2nd quarter worth approximately $122,278,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Neurocrine Biosciences by 1.8% in the second quarter. Charles Schwab Investment Management Inc. now owns 789,715 shares of the company’s stock valued at $99,259,000 after acquiring an additional 13,942 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on NBIX shares. Piper Sandler upped their target price on Neurocrine Biosciences from $175.00 to $179.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Zacks Research downgraded Neurocrine Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Morgan Stanley reiterated an “equal weight” rating and issued a $175.00 target price (up previously from $173.00) on shares of Neurocrine Biosciences in a research report on Thursday, January 8th. Wall Street Zen raised Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Finally, Truist Financial reduced their price target on shares of Neurocrine Biosciences from $172.00 to $169.00 and set a “buy” rating on the stock in a research note on Thursday, January 8th. Fifteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $176.00.

Neurocrine Biosciences Trading Down 1.4%

Neurocrine Biosciences stock opened at $137.65 on Wednesday. The stock has a 50-day moving average price of $141.68 and a two-hundred day moving average price of $140.61. Neurocrine Biosciences, Inc. has a 12 month low of $84.23 and a 12 month high of $160.18. The company has a market capitalization of $13.73 billion, a PE ratio of 32.93, a P/E/G ratio of 0.65 and a beta of 0.31.

Insider Buying and Selling at Neurocrine Biosciences

In related news, insider Darin Lippoldt sold 4,376 shares of the business’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $159.65, for a total value of $698,628.40. Following the sale, the insider owned 43,405 shares of the company’s stock, valued at $6,929,608.25. The trade was a 9.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Leslie V. Norwalk sold 5,000 shares of the stock in a transaction on Monday, December 15th. The shares were sold at an average price of $152.23, for a total value of $761,150.00. Following the completion of the sale, the director owned 7,429 shares of the company’s stock, valued at $1,130,916.67. The trade was a 40.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 61,966 shares of company stock worth $8,625,166 in the last 90 days. Corporate insiders own 4.30% of the company’s stock.

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.