Simplify Asset Management Inc. Trims Stock Position in Neurocrine Biosciences, Inc. $NBIX

Simplify Asset Management Inc. decreased its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 90.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,404 shares of the company’s stock after selling 33,220 shares during the quarter. Simplify Asset Management Inc.’s holdings in Neurocrine Biosciences were worth $483,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of NBIX. AlTi Global Inc. boosted its position in Neurocrine Biosciences by 1.0% in the 3rd quarter. AlTi Global Inc. now owns 6,828 shares of the company’s stock worth $959,000 after purchasing an additional 70 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Neurocrine Biosciences by 0.7% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 11,112 shares of the company’s stock valued at $1,560,000 after purchasing an additional 77 shares during the period. Perigon Wealth Management LLC boosted its holdings in Neurocrine Biosciences by 3.1% during the fourth quarter. Perigon Wealth Management LLC now owns 2,590 shares of the company’s stock worth $367,000 after buying an additional 78 shares in the last quarter. Signaturefd LLC boosted its holdings in Neurocrine Biosciences by 4.5% during the fourth quarter. Signaturefd LLC now owns 1,925 shares of the company’s stock worth $273,000 after buying an additional 83 shares in the last quarter. Finally, Great Lakes Advisors LLC grew its position in Neurocrine Biosciences by 2.4% during the third quarter. Great Lakes Advisors LLC now owns 3,605 shares of the company’s stock valued at $506,000 after buying an additional 84 shares during the period. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Neurocrine Biosciences Stock Performance

Shares of NBIX opened at $156.70 on Monday. Neurocrine Biosciences, Inc. has a one year low of $117.59 and a one year high of $162.39. The stock has a market capitalization of $15.76 billion, a price-to-earnings ratio of 24.14, a PEG ratio of 1.18 and a beta of 0.34. The stock has a 50 day moving average price of $136.68 and a 200 day moving average price of $138.88.

Insiders Place Their Bets

In other news, Director Richard F. Pops sold 15,000 shares of the firm’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $157.65, for a total value of $2,364,750.00. Following the transaction, the director directly owned 34,480 shares of the company’s stock, valued at approximately $5,435,772. This trade represents a 30.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kevin Charles Gorman sold 245,088 shares of the business’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $154.33, for a total transaction of $37,824,431.04. Following the transaction, the director owned 511,293 shares in the company, valued at $78,907,848.69. The trade was a 32.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 263,898 shares of company stock valued at $40,779,769 in the last 90 days. 4.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Wolfe Research began coverage on shares of Neurocrine Biosciences in a report on Tuesday, February 24th. They issued an “outperform” rating and a $160.00 price objective for the company. JPMorgan Chase & Co. raised their target price on Neurocrine Biosciences from $177.00 to $185.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Weiss Ratings restated a “hold (c+)” rating on shares of Neurocrine Biosciences in a research note on Tuesday, April 21st. Wall Street Zen raised Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 25th. Finally, HC Wainwright increased their price target on Neurocrine Biosciences from $192.00 to $215.00 and gave the stock a “buy” rating in a research report on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $185.90.

Neurocrine Biosciences Company Profile

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.