Renaissance Technologies LLC Has $318.67 Million Position in Neurocrine Biosciences, Inc. $NBIX

Renaissance Technologies LLC increased its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 8.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,418,897 shares of the company’s stock after purchasing an additional 180,100 shares during the period. Neurocrine Biosciences makes up 0.5% of Renaissance Technologies LLC’s portfolio, making the stock its 19th biggest position. Renaissance Technologies LLC owned approximately 2.41% of Neurocrine Biosciences worth $318,665,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Royal Bank of Canada lifted its stake in Neurocrine Biosciences by 36.7% in the first quarter. Royal Bank of Canada now owns 82,810 shares of the company’s stock valued at $9,158,000 after buying an additional 22,224 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Neurocrine Biosciences by 60.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,783 shares of the company’s stock worth $1,647,000 after acquiring an additional 5,577 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of Neurocrine Biosciences by 56.3% during the first quarter. NewEdge Advisors LLC now owns 7,630 shares of the company’s stock worth $844,000 after acquiring an additional 2,747 shares in the last quarter. Empowered Funds LLC acquired a new stake in shares of Neurocrine Biosciences during the first quarter worth $1,333,000. Finally, Geneos Wealth Management Inc. lifted its position in Neurocrine Biosciences by 143.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after acquiring an additional 135 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Darin Lippoldt sold 10,000 shares of Neurocrine Biosciences stock in a transaction dated 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 completion of the transaction, the insider owned 54,729 shares of the company’s stock, valued at $9,829,328.40. This trade represents a 15.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 stock was 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 394,172 shares of company stock valued at $62,221,181. 4.60% of the stock is owned by corporate insiders.

Neurocrine Biosciences Trading Up 0.9%

NASDAQ NBIX opened at $175.77 on Friday. Neurocrine Biosciences, Inc. has a 12 month low of $122.14 and a 12 month high of $181.18. The stock has a 50 day moving average of $165.53 and a 200-day moving average of $144.95. The company has a market cap of $17.67 billion, a PE ratio of 27.08, a PEG ratio of 0.69 and a beta of 0.39.

Wall Street Analyst Weigh In

Several research firms have issued reports on NBIX. Needham & Company LLC reissued a “buy” rating and issued a $185.00 price target on shares of Neurocrine Biosciences in a research note on Monday, April 6th. Zacks Research upgraded shares of Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 23rd. Wall Street Zen raised shares of Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 25th. Leerink Partners raised their target price on shares of Neurocrine Biosciences from $160.00 to $170.00 and gave the company an “outperform” rating in a research report on Wednesday, April 22nd. Finally, BMO Capital Markets boosted their price target on shares of Neurocrine Biosciences from $144.00 to $170.00 and gave the stock a “market perform” rating in a research report on Monday, July 13th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $194.05.

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.