Belpointe Asset Management LLC Makes New $58,000 Investment in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Belpointe Asset Management LLC purchased a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX – Get Rating) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 489 shares of the company’s stock, valued at approximately $58,000.

Other institutional investors also recently added to or reduced their stakes in the company. Inspire Investing LLC acquired a new position in shares of Neurocrine Biosciences in the third quarter valued at approximately $207,000. Two Sigma Investments LP increased its holdings in shares of Neurocrine Biosciences by 1,458.5% in the third quarter. Two Sigma Investments LP now owns 368,820 shares of the company’s stock valued at $39,172,000 after purchasing an additional 345,155 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Neurocrine Biosciences by 4.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,706 shares of the company’s stock valued at $2,199,000 after buying an additional 869 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of Neurocrine Biosciences by 3.2% in the fourth quarter. Arizona State Retirement System now owns 27,071 shares of the company’s stock valued at $3,233,000 after buying an additional 829 shares in the last quarter. Finally, Jupiter Asset Management Ltd. boosted its stake in shares of Neurocrine Biosciences by 140.2% in the third quarter. Jupiter Asset Management Ltd. now owns 12,153 shares of the company’s stock valued at $1,291,000 after buying an additional 7,094 shares in the last quarter. Institutional investors and hedge funds own 92.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NBIX. Guggenheim upgraded Neurocrine Biosciences from a “neutral” rating to a “buy” rating and set a $145.00 price target on the stock in a research note on Thursday, May 4th. Piper Sandler decreased their target price on Neurocrine Biosciences from $103.00 to $95.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 7th. Morgan Stanley upgraded Neurocrine Biosciences from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $120.00 to $130.00 in a research report on Friday, February 3rd. HC Wainwright reiterated a “buy” rating and set a $140.00 target price on shares of Neurocrine Biosciences in a research report on Tuesday, February 7th. Finally, TheStreet downgraded Neurocrine Biosciences from a “b” rating to a “c” rating in a research report on Monday, May 8th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $125.21.

Neurocrine Biosciences Stock Down 0.6 %

Shares of Neurocrine Biosciences stock opened at $93.50 on Tuesday. The company has a current ratio of 3.83, a quick ratio of 3.74 and a debt-to-equity ratio of 0.10. The business’s 50 day simple moving average is $99.39 and its 200-day simple moving average is $108.18. The stock has a market capitalization of $9.12 billion, a price-to-earnings ratio of 155.83, a PEG ratio of 1.15 and a beta of 0.49. Neurocrine Biosciences, Inc. has a twelve month low of $84.42 and a twelve month high of $129.29.

Insiders Place Their Bets

In other news, insider Julie Cooke sold 11,397 shares of the stock in a transaction on Monday, May 1st. The stock was sold at an average price of $103.89, for a total transaction of $1,184,034.33. Following the completion of the sale, the insider now owns 16,169 shares in the company, valued at approximately $1,679,797.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Neurocrine Biosciences news, insider Julie Cooke sold 11,397 shares of Neurocrine Biosciences stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $103.89, for a total transaction of $1,184,034.33. Following the transaction, the insider now directly owns 16,169 shares in the company, valued at approximately $1,679,797.41. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Neurocrine Biosciences Inc bought 4,395,588 shares of Neurocrine Biosciences stock in a transaction dated Thursday, February 23rd. The stock was acquired at an average price of $8.88 per share, with a total value of $39,032,821.44. Following the acquisition, the insider now directly owns 8,575,316 shares of the company’s stock, valued at $76,148,806.08. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 37,034 shares of company stock worth $3,838,922. 4.40% of the stock is owned by insiders.

About Neurocrine Biosciences

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Neurocrine Biosciences, Inc is a neuroscience-focused, biopharmaceutical company. It discovers, develops, and intends to commercialize drugs for the treatment of neurological and endocrine related diseases and disorders. The company was founded by Kevin C. Gorman and Wylie W. Vale in January 1992 and is headquartered in San Diego, CA.