Citizens Financial Group Inc. RI Buys New Position in Neurocrine Biosciences, Inc. $NBIX

Citizens Financial Group Inc. RI acquired a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 3,254 shares of the company’s stock, valued at approximately $429,000.

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Weiss Ratings lowered shares of Neurocrine Biosciences from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, July 10th. Truist Financial boosted their price target on shares of Neurocrine Biosciences from $155.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday. HC Wainwright upped their price target on shares of Neurocrine Biosciences from $192.00 to $215.00 and gave the company a “buy” rating in a research report on Tuesday, April 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $185.00 price objective on shares of Neurocrine Biosciences in a research note on Monday, April 6th. Finally, Royal Bank Of Canada boosted their target price on Neurocrine Biosciences from $183.00 to $195.00 and gave the company an “outperform” rating in a research note on Tuesday, July 7th. 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $191.67.

Neurocrine Biosciences Price Performance

NBIX stock opened at $172.05 on Thursday. Neurocrine Biosciences, Inc. has a 1 year low of $122.14 and a 1 year high of $181.18. The firm has a 50-day moving average of $162.93 and a 200 day moving average of $143.42. The company has a market cap of $17.30 billion, a P/E ratio of 26.51, a PEG ratio of 0.68 and a beta of 0.39.

Insider Activity at Neurocrine Biosciences

In related news, Director Stephen A. Sherwin sold 25,000 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $165.32, for a total transaction of $4,133,000.00. Following the sale, the director directly owned 15,860 shares of the company’s stock, valued at approximately $2,621,975.20. This represents a 61.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kevin Charles Gorman sold 245,088 shares of the stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $154.33, for a total transaction of $37,824,431.04. Following the sale, the director owned 511,293 shares in the company, valued at approximately $78,907,848.69. The trade was a 32.40% 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. Insiders sold a total of 394,172 shares of company stock worth $62,221,181 over the last 90 days. 4.60% of the stock is currently owned by insiders.

Neurocrine Biosciences Company 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.