Verition Fund Management LLC Takes Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Verition Fund Management LLC purchased a new position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 8,325 shares of the company’s stock, valued at approximately $959,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Ashton Thomas Private Wealth LLC bought a new position in Neurocrine Biosciences in the 2nd quarter worth about $28,000. Innealta Capital LLC bought a new position in shares of Neurocrine Biosciences in the second quarter worth approximately $30,000. EdgeRock Capital LLC bought a new position in shares of Neurocrine Biosciences in the second quarter worth approximately $35,000. Blue Trust Inc. grew its holdings in shares of Neurocrine Biosciences by 171.9% during the third quarter. Blue Trust Inc. now owns 348 shares of the company’s stock valued at $40,000 after buying an additional 220 shares during the last quarter. Finally, Plato Investment Management Ltd increased its holdings in shares of Neurocrine Biosciences by 44.1% in the 2nd quarter. Plato Investment Management Ltd now owns 425 shares of the company’s stock worth $59,000 after purchasing an additional 130 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.

Insiders Place Their Bets

In other Neurocrine Biosciences news, insider Jude Onyia sold 2,331 shares of Neurocrine Biosciences stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $126.29, for a total value of $294,381.99. Following the sale, the insider now owns 15,449 shares of the company’s stock, valued at $1,951,054.21. The trade was a 13.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ:NBIX opened at $128.14 on Monday. The firm has a market cap of $12.97 billion, a price-to-earnings ratio of 34.35 and a beta of 0.34. The firm has a fifty day moving average price of $120.33 and a 200 day moving average price of $130.98. Neurocrine Biosciences, Inc. has a fifty-two week low of $110.95 and a fifty-two week high of $157.98.

Analyst Upgrades and Downgrades

NBIX has been the subject of several research reports. BMO Capital Markets decreased their price objective on shares of Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating for the company in a report on Thursday, October 17th. Royal Bank of Canada cut their price objective on Neurocrine Biosciences from $136.00 to $133.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. Barclays lowered their target price on Neurocrine Biosciences from $180.00 to $160.00 and set an “overweight” rating on the stock in a report on Monday, September 9th. HC Wainwright restated a “buy” rating and set a $190.00 price target on shares of Neurocrine Biosciences in a research note on Friday, November 1st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Neurocrine Biosciences in a research report on Monday, November 11th. Five equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $163.91.

Neurocrine Biosciences Company 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.