Pictet Asset Management Holding SA Sells 174,291 Shares of Neurocrine Biosciences, Inc. $NBIX

Pictet Asset Management Holding SA cut its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 22.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 602,643 shares of the company’s stock after selling 174,291 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Neurocrine Biosciences were worth $78,945,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Huntington National Bank lifted its position in Neurocrine Biosciences by 12.6% in the fourth quarter. Huntington National Bank now owns 678 shares of the company’s stock valued at $96,000 after purchasing an additional 76 shares during the last quarter. Perigon Wealth Management LLC grew its holdings in shares of Neurocrine Biosciences by 3.1% in the fourth quarter. Perigon Wealth Management LLC now owns 2,590 shares of the company’s stock worth $367,000 after purchasing an additional 78 shares during the last quarter. Motley Fool Asset Management LLC grew its holdings in shares of Neurocrine Biosciences by 4.8% in the fourth quarter. Motley Fool Asset Management LLC now owns 1,693 shares of the company’s stock worth $240,000 after purchasing an additional 78 shares during the last quarter. Main Management ETF Advisors LLC increased its stake in shares of Neurocrine Biosciences by 1.0% in the fourth quarter. Main Management ETF Advisors LLC now owns 7,830 shares of the company’s stock worth $1,111,000 after buying an additional 80 shares during the period. Finally, Signaturefd LLC increased its stake in shares of Neurocrine Biosciences by 4.5% in the fourth quarter. Signaturefd LLC now owns 1,925 shares of the company’s stock worth $273,000 after buying an additional 83 shares during the period. 92.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on NBIX shares. Canaccord Genuity Group increased their price target on shares of Neurocrine Biosciences from $164.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, April 7th. Sanford C. Bernstein initiated coverage on shares of Neurocrine Biosciences in a research note on Friday, May 22nd. They set an “outperform” rating and a $221.00 price objective for the company. Piper Sandler increased their target price on shares of Neurocrine Biosciences from $190.00 to $207.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Leerink Partners raised their target price on Neurocrine Biosciences from $160.00 to $170.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 22nd. Finally, Wall Street Zen upgraded Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 25th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $187.52.

Neurocrine Biosciences Stock Up 0.9%

NASDAQ:NBIX opened at $170.00 on Tuesday. The firm’s fifty day simple moving average is $152.82 and its 200 day simple moving average is $141.25. The stock has a market cap of $17.09 billion, a P/E ratio of 26.19, a price-to-earnings-growth ratio of 0.67 and a beta of 0.39. Neurocrine Biosciences, Inc. has a twelve month low of $122.14 and a twelve month high of $171.43.

Insider Activity

In other news, insider Julie Cooke sold 36,937 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $156.22, for a total transaction of $5,770,298.14. Following the sale, the insider owned 22,374 shares of the company’s stock, valued at approximately $3,495,266.28. The trade was a 62.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Leslie V. Norwalk sold 1,250 shares of the business’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $168.06, for a total transaction of $210,075.00. Following the transaction, the director owned 2,838 shares in the company, valued at $476,954.28. This represents a 30.58% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 355,234 shares of company stock worth $55,330,060. 4.60% of the stock is owned by company insiders.

About Neurocrine Biosciences

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.