Y Intercept Hong Kong Ltd Makes New Investment in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Y Intercept Hong Kong Ltd acquired a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 31,781 shares of the company’s stock, valued at approximately $3,662,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC purchased a new position in Neurocrine Biosciences during the second quarter worth $28,000. Innealta Capital LLC purchased a new position in Neurocrine Biosciences during the second quarter worth $30,000. EdgeRock Capital LLC purchased a new position in Neurocrine Biosciences during the second quarter worth $35,000. Blue Trust Inc. boosted its stake in Neurocrine Biosciences by 171.9% during the third quarter. Blue Trust Inc. now owns 348 shares of the company’s stock worth $40,000 after buying an additional 220 shares during the period. Finally, Plato Investment Management Ltd boosted its stake in Neurocrine Biosciences by 44.1% during the second quarter. Plato Investment Management Ltd now owns 425 shares of the company’s stock worth $59,000 after buying an additional 130 shares during the period. 92.59% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Jude Onyia sold 2,331 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $126.29, for a total transaction of $294,381.99. Following the transaction, the insider now owns 15,449 shares in the company, valued at $1,951,054.21. This represents a 13.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.30% of the stock is currently owned by corporate insiders.

Neurocrine Biosciences Stock Performance

Shares of Neurocrine Biosciences stock opened at $128.14 on Monday. The company has a market capitalization of $12.97 billion, a PE ratio of 34.35 and a beta of 0.34. The company has a 50-day simple moving average of $120.33 and a two-hundred day simple moving average of $130.98. Neurocrine Biosciences, Inc. has a one year low of $110.95 and a one year high of $157.98.

Analysts Set New Price Targets

A number of analysts have recently issued reports on NBIX shares. Raymond James reissued an “outperform” rating and set a $155.00 target price on shares of Neurocrine Biosciences in a research note on Thursday, October 10th. Needham & Company LLC reissued a “hold” rating on shares of Neurocrine Biosciences in a research note on Monday, November 11th. Barclays lowered their target price on shares of Neurocrine Biosciences from $180.00 to $160.00 and set an “overweight” rating for the company in a research note on Monday, September 9th. StockNews.com lowered shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 1st. Finally, Piper Sandler raised shares of Neurocrine Biosciences from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $131.00 to $159.00 in a research note on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $163.91.

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.