Park Avenue Securities LLC Boosts Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Park Avenue Securities LLC lifted its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 23.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,080 shares of the company’s stock after buying an additional 1,336 shares during the quarter. Park Avenue Securities LLC’s holdings in Neurocrine Biosciences were worth $966,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of NBIX. Tealwood Asset Management Inc. grew its holdings in Neurocrine Biosciences by 1.0% in the fourth quarter. Tealwood Asset Management Inc. now owns 11,911 shares of the company’s stock valued at $1,626,000 after purchasing an additional 118 shares during the period. Pallas Capital Advisors LLC lifted its position in shares of Neurocrine Biosciences by 19.0% during the fourth quarter. Pallas Capital Advisors LLC now owns 7,673 shares of the company’s stock worth $1,047,000 after purchasing an additional 1,225 shares in the last quarter. First Hawaiian Bank lifted its position in shares of Neurocrine Biosciences by 21.3% during the fourth quarter. First Hawaiian Bank now owns 12,243 shares of the company’s stock worth $1,671,000 after purchasing an additional 2,150 shares in the last quarter. Everence Capital Management Inc. acquired a new position in shares of Neurocrine Biosciences during the fourth quarter worth $476,000. Finally, GAMMA Investing LLC raised its holdings in Neurocrine Biosciences by 32.0% in the fourth quarter. GAMMA Investing LLC now owns 2,295 shares of the company’s stock valued at $313,000 after acquiring an additional 557 shares in the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Ingrid Delaet sold 1,091 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $135.00, for a total value of $147,285.00. Following the transaction, the insider now owns 2,507 shares in the company, valued at approximately $338,445. This represents a 30.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Kyle Gano sold 65,000 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $141.50, for a total value of $9,197,500.00. Following the transaction, the chief executive officer now owns 135,392 shares in the company, valued at approximately $19,157,968. This trade represents a 32.44 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 68,694 shares of company stock worth $9,676,730. Insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Price Performance

Shares of NBIX opened at $143.26 on Tuesday. The company has a market capitalization of $14.51 billion, a price-to-earnings ratio of 38.41 and a beta of 0.33. Neurocrine Biosciences, Inc. has a fifty-two week low of $110.95 and a fifty-two week high of $157.98. The business’s 50-day moving average is $132.17 and its 200-day moving average is $131.15.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on NBIX. Raymond James reaffirmed an “outperform” rating and issued a $155.00 price target on shares of Neurocrine Biosciences in a report on Thursday, October 10th. StockNews.com lowered shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. William Blair reiterated an “outperform” rating on shares of Neurocrine Biosciences in a research report on Monday, December 16th. Wedbush reiterated an “outperform” rating and issued a $148.00 target price on shares of Neurocrine Biosciences in a research report on Monday, December 16th. Finally, Piper Sandler reissued an “overweight” rating and issued a $160.00 price target on shares of Neurocrine Biosciences in a report on Monday, December 23rd. Five equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $164.81.

Neurocrine Biosciences Profile

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.