Neurocrine Biosciences, Inc. $NBIX Shares Sold by Simplify Asset Management Inc.

Simplify Asset Management Inc. reduced its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 90.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 3,404 shares of the company’s stock after selling 33,220 shares during the period. Simplify Asset Management Inc.’s holdings in Neurocrine Biosciences were worth $483,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of NBIX. AlTi Global Inc. raised its holdings in shares of Neurocrine Biosciences by 1.0% during the 3rd quarter. AlTi Global Inc. now owns 6,828 shares of the company’s stock worth $959,000 after acquiring an additional 70 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in Neurocrine Biosciences by 0.7% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 11,112 shares of the company’s stock worth $1,560,000 after purchasing an additional 77 shares during the last quarter. Perigon Wealth Management LLC increased its position 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 purchasing an additional 78 shares during the last quarter. Signaturefd LLC raised its stake 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 purchasing an additional 83 shares during the period. Finally, Great Lakes Advisors LLC raised its stake in Neurocrine Biosciences by 2.4% during the third quarter. Great Lakes Advisors LLC now owns 3,605 shares of the company’s stock worth $506,000 after purchasing an additional 84 shares during the period. 92.59% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Wall Street Zen raised shares of Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 25th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Neurocrine Biosciences in a report on Tuesday, April 21st. Zacks Research upgraded Neurocrine Biosciences from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 15th. Wedbush raised their target price on Neurocrine Biosciences from $166.00 to $176.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th. Finally, Wolfe Research started coverage on Neurocrine Biosciences in a research report on Tuesday, February 24th. They issued an “outperform” rating and a $160.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $185.90.

Insider Activity

In related news, Director Richard F. Pops sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $157.65, for a total transaction of $2,364,750.00. Following the sale, the director directly owned 34,480 shares of the company’s stock, valued at $5,435,772. This represents a 30.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Leslie V. Norwalk sold 3,810 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $155.01, for a total transaction of $590,588.10. Following the completion of the transaction, the director directly owned 2,429 shares of the company’s stock, valued at $376,519.29. This represents a 61.07% decrease in their position. 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. Over the last quarter, insiders sold 263,898 shares of company stock valued at $40,779,769. 4.60% of the stock is currently owned by company insiders.

Neurocrine Biosciences Price Performance

Shares of Neurocrine Biosciences stock opened at $156.70 on Monday. The stock has a market capitalization of $15.76 billion, a price-to-earnings ratio of 24.14, a price-to-earnings-growth ratio of 1.18 and a beta of 0.34. The business has a 50-day moving average of $136.68 and a 200 day moving average of $138.88. Neurocrine Biosciences, Inc. has a 12 month low of $117.59 and a 12 month high of $162.39.

Neurocrine Biosciences 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.