Peloton Wealth Strategists Invests $405,000 in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Peloton Wealth Strategists acquired a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,515 shares of the company’s stock, valued at approximately $405,000.

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

Insiders Place Their Bets

In other news, insider Jude Onyia sold 2,331 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $126.29, for a total transaction of $294,381.99. Following the completion of the sale, the insider now directly owns 15,449 shares in the company, valued at approximately $1,951,054.21. This represents a 13.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Stock Performance

NASDAQ:NBIX opened at $128.14 on Monday. Neurocrine Biosciences, Inc. has a 52 week low of $110.95 and a 52 week high of $157.98. The firm’s 50-day simple moving average is $120.33 and its 200 day simple moving average is $130.98. The firm has a market cap of $12.97 billion, a price-to-earnings ratio of 34.35 and a beta of 0.34.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Jefferies Financial Group increased their target price on Neurocrine Biosciences from $177.00 to $189.00 and gave the stock a “buy” rating in a research note on Monday, August 19th. StockNews.com cut shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. Cantor Fitzgerald reiterated an “overweight” rating and set a $155.00 target price on shares of Neurocrine Biosciences in a report on Monday, September 16th. Raymond James reaffirmed an “outperform” rating and set a $155.00 price objective on shares of Neurocrine Biosciences in a research report on Thursday, October 10th. Finally, Barclays dropped their target price on Neurocrine Biosciences from $180.00 to $160.00 and set an “overweight” rating on the stock in a research report on Monday, September 9th. Five equities research 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 stock. According to data from MarketBeat, Neurocrine Biosciences has an average rating of “Moderate Buy” and a consensus target price of $163.91.

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.