Simplify Asset Management Inc. Buys Shares of 22,834 Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Simplify Asset Management Inc. purchased a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 22,834 shares of the company’s stock, valued at approximately $3,144,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mather Group LLC. bought a new position in Neurocrine Biosciences during the first quarter valued at about $26,000. RFP Financial Group LLC raised its stake in shares of Neurocrine Biosciences by 346.5% in the 1st quarter. RFP Financial Group LLC now owns 192 shares of the company’s stock valued at $26,000 after acquiring an additional 149 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in Neurocrine Biosciences in the 2nd quarter worth approximately $28,000. Innealta Capital LLC acquired a new stake in Neurocrine Biosciences in the 2nd quarter worth approximately $30,000. Finally, New Covenant Trust Company N.A. bought a new stake in Neurocrine Biosciences during the first quarter worth approximately $32,000. Institutional investors own 92.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NBIX. Wedbush reiterated an “outperform” rating and issued a $152.00 target price on shares of Neurocrine Biosciences in a research note on Wednesday, May 29th. BMO Capital Markets decreased their target price on Neurocrine Biosciences from $142.00 to $128.00 and set a “market perform” rating for the company in a research note on Thursday, August 29th. Barclays cut their price target on Neurocrine Biosciences from $180.00 to $160.00 and set an “overweight” rating for the company in a report on Monday, September 9th. Citigroup raised their price objective on shares of Neurocrine Biosciences from $150.00 to $158.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Finally, Royal Bank of Canada cut their target price on shares of Neurocrine Biosciences from $143.00 to $136.00 and set a “sector perform” rating for the company in a research note on Thursday, August 29th. Five analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Neurocrine Biosciences presently has an average rating of “Moderate Buy” and an average price target of $162.20.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director William H. Rastetter sold 14,250 shares of Neurocrine Biosciences stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $146.69, for a total transaction of $2,090,332.50. Following the transaction, the director now directly owns 37,491 shares in the company, valued at $5,499,554.79. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director William H. Rastetter sold 14,250 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $146.69, for a total transaction of $2,090,332.50. Following the sale, the director now directly owns 37,491 shares in the company, valued at $5,499,554.79. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ingrid Delaet sold 7,143 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $150.10, for a total value of $1,072,164.30. Following the transaction, the insider now owns 2,507 shares of the company’s stock, valued at approximately $376,300.70. The disclosure for this sale can be found here. Insiders sold a total of 71,798 shares of company stock worth $10,676,096 in the last quarter. Corporate insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Trading Up 0.5 %

Shares of NBIX opened at $120.46 on Friday. The stock has a market cap of $12.12 billion, a P/E ratio of 33.18 and a beta of 0.37. Neurocrine Biosciences, Inc. has a 1 year low of $103.63 and a 1 year high of $157.98. The stock’s 50-day moving average price is $139.07 and its two-hundred day moving average price is $138.24.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.52). Neurocrine Biosciences had a return on equity of 14.86% and a net margin of 16.00%. The firm had revenue of $590.20 million for the quarter, compared to the consensus estimate of $545.98 million. During the same period in the previous year, the business earned $0.95 EPS. The firm’s revenue was up 30.4% compared to the same quarter last year. As a group, equities analysts forecast that Neurocrine Biosciences, Inc. will post 4.19 EPS for the current year.

Neurocrine Biosciences Company 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.