Gries Financial LLC Makes New Investment in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Gries Financial LLC bought a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 1,626 shares of the company’s stock, valued at approximately $222,000.

Several other institutional investors and hedge funds have also recently modified their holdings of NBIX. The Manufacturers Life Insurance Company increased its position in shares of Neurocrine Biosciences by 0.9% in the second quarter. The Manufacturers Life Insurance Company now owns 125,401 shares of the company’s stock valued at $17,264,000 after buying an additional 1,074 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in Neurocrine Biosciences during the second quarter valued at $509,000. Cetera Investment Advisers grew its position in shares of Neurocrine Biosciences by 7.9% in the second quarter. Cetera Investment Advisers now owns 7,112 shares of the company’s stock valued at $979,000 after purchasing an additional 519 shares during the period. Sanctuary Advisors LLC purchased a new stake in shares of Neurocrine Biosciences during the second quarter worth about $510,000. Finally, Handelsbanken Fonder AB raised its holdings in shares of Neurocrine Biosciences by 20.7% during the third quarter. Handelsbanken Fonder AB now owns 26,867 shares of the company’s stock valued at $3,096,000 after acquiring an additional 4,600 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on NBIX. Royal Bank of Canada dropped their price target on Neurocrine Biosciences from $136.00 to $133.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. StockNews.com lowered shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st. Raymond James reiterated an “outperform” rating and issued a $155.00 target price on shares of Neurocrine Biosciences in a report on Thursday, October 10th. Needham & Company LLC restated a “hold” rating on shares of Neurocrine Biosciences in a report on Friday, December 20th. Finally, Barclays increased their price objective on Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday, December 23rd. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Neurocrine Biosciences presently has a consensus rating of “Moderate Buy” and an average target price of $166.10.

Insiders Place Their Bets

In related news, CEO Kyle Gano sold 65,000 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $141.50, for a total transaction of $9,197,500.00. Following the sale, the chief executive officer now directly owns 135,392 shares in the company, valued at approximately $19,157,968. This trade represents a 32.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kevin Charles Gorman sold 146,105 shares of the firm’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $149.46, for a total transaction of $21,836,853.30. Following the sale, the director now directly owns 514,596 shares of the company’s stock, valued at approximately $76,911,518.16. The trade was a 22.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 214,799 shares of company stock valued at $31,513,583. Corporate insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Trading Up 1.7 %

Shares of NBIX opened at $153.29 on Friday. The company has a 50-day moving average of $135.88 and a two-hundred day moving average of $131.44. The stock has a market cap of $15.52 billion, a P/E ratio of 41.10 and a beta of 0.33. Neurocrine Biosciences, Inc. has a 12-month low of $110.95 and a 12-month high of $157.98.

About Neurocrine Biosciences

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.