Ground Swell Capital LLC Invests $496,000 in Neurocrine Biosciences, Inc. $NBIX

Ground Swell Capital LLC acquired a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,767 shares of the company’s stock, valued at approximately $496,000. Neurocrine Biosciences accounts for about 1.0% of Ground Swell Capital LLC’s holdings, making the stock its 22nd biggest holding.

Other large investors have also added to or reduced their stakes in the company. Huntington National Bank grew its holdings in Neurocrine Biosciences by 12.6% during the 4th quarter. Huntington National Bank now owns 678 shares of the company’s stock worth $96,000 after acquiring an additional 76 shares during the last quarter. Perigon Wealth Management LLC raised its stake in shares of Neurocrine Biosciences by 3.1% during the fourth quarter. Perigon Wealth Management LLC now owns 2,590 shares of the company’s stock valued at $367,000 after acquiring an additional 78 shares during the last quarter. Motley Fool Asset Management LLC raised its stake in shares of Neurocrine Biosciences by 4.8% during the fourth quarter. Motley Fool Asset Management LLC now owns 1,693 shares of the company’s stock valued at $240,000 after acquiring an additional 78 shares during the last quarter. Main Management ETF Advisors LLC lifted its holdings in shares of Neurocrine Biosciences by 1.0% during the fourth quarter. Main Management ETF Advisors LLC now owns 7,830 shares of the company’s stock worth $1,111,000 after purchasing an additional 80 shares during the period. Finally, Signaturefd LLC grew its stake in shares of Neurocrine Biosciences by 4.5% in the fourth quarter. Signaturefd LLC now owns 1,925 shares of the company’s stock worth $273,000 after purchasing an additional 83 shares during the last quarter. Institutional investors own 92.59% of the company’s stock.

Insiders Place Their Bets

In other Neurocrine Biosciences news, insider Julie Cooke sold 36,937 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $156.22, for a total transaction of $5,770,298.14. Following the completion of the sale, the insider directly owned 22,374 shares in the company, valued at approximately $3,495,266.28. This trade represents a 62.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jude Onyia sold 11,000 shares of Neurocrine Biosciences stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $160.25, for a total value of $1,762,750.00. Following the completion of the transaction, the insider directly owned 25,846 shares of the company’s stock, valued at approximately $4,141,821.50. This trade represents a 29.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 355,234 shares of company stock valued at $55,330,060 over the last quarter. Company insiders own 4.60% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on NBIX shares. Wall Street Zen upgraded Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 25th. JPMorgan Chase & Co. lifted their target price on Neurocrine Biosciences from $177.00 to $185.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. HC Wainwright upped their price target on Neurocrine Biosciences from $192.00 to $215.00 and gave the company a “buy” rating in a research report on Tuesday, April 7th. Truist Financial increased their price target on Neurocrine Biosciences from $140.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Finally, Leerink Partners raised their price objective on Neurocrine Biosciences from $160.00 to $170.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $187.52.

Neurocrine Biosciences Stock Performance

NASDAQ:NBIX opened at $168.52 on Friday. Neurocrine Biosciences, Inc. has a 52 week low of $122.14 and a 52 week high of $169.57. The firm’s fifty day moving average is $151.99 and its 200-day moving average is $141.24. The firm has a market cap of $16.94 billion, a P/E ratio of 25.97, a P/E/G ratio of 0.65 and a beta of 0.40.

About Neurocrine Biosciences

Neurocrine Biosciences (NASDAQ: NBIX) is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research‐driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine’s operations encompass drug discovery, clinical development and commercialization activities.

The company’s lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.