Neurocrine Biosciences, Inc. $NBIX Shares Acquired by Armistice Capital LLC

Armistice Capital LLC lifted its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 17.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 820,240 shares of the company’s stock after buying an additional 123,218 shares during the quarter. Neurocrine Biosciences accounts for approximately 1.4% of Armistice Capital LLC’s portfolio, making the stock its 8th biggest position. Armistice Capital LLC’s holdings in Neurocrine Biosciences were worth $116,335,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the company. USA Financial Formulas acquired a new position in Neurocrine Biosciences in the 4th quarter valued at about $25,000. DJE Kapital AG acquired a new stake in shares of Neurocrine Biosciences during the fourth quarter worth about $28,000. Geneos Wealth Management Inc. lifted its position in shares of Neurocrine Biosciences by 143.6% during the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after purchasing an additional 135 shares in the last quarter. Meeder Asset Management Inc. boosted its stake in shares of Neurocrine Biosciences by 651.6% in the fourth quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock valued at $33,000 after purchasing an additional 202 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Neurocrine Biosciences in the fourth quarter valued at approximately $39,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

Analysts Set New Price Targets

NBIX has been the topic of several recent research reports. HC Wainwright upped their target price on shares of Neurocrine Biosciences from $192.00 to $215.00 and gave the stock a “buy” rating in a research note on Tuesday, April 7th. Wolfe Research assumed coverage on shares of Neurocrine Biosciences in a research report on Tuesday, February 24th. They issued an “outperform” rating and a $160.00 price target for the company. Wedbush upped their price objective on Neurocrine Biosciences from $166.00 to $176.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Needham & Company LLC reiterated a “buy” rating and issued a $185.00 price objective on shares of Neurocrine Biosciences in a research note on Monday, April 6th. Finally, Sanford C. Bernstein assumed coverage on Neurocrine Biosciences in a report on Friday, May 22nd. They issued an “outperform” rating and a $221.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $187.52.

Insider Buying and Selling

In other news, Director Kevin Charles Gorman sold 245,088 shares of the company’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $154.33, for a total value of $37,824,431.04. Following the completion of the transaction, the director owned 511,293 shares in the company, valued at approximately $78,907,848.69. This represents a 32.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Richard F. Pops sold 15,000 shares of the stock in a transaction 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 completion of the transaction, the director directly owned 34,480 shares in the company, valued at $5,435,772. This trade represents a 30.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 355,234 shares of company stock valued at $55,330,060 over the last three months. 4.60% of the stock is currently owned by insiders.

Neurocrine Biosciences Stock Performance

NBIX opened at $159.00 on Thursday. Neurocrine Biosciences, Inc. has a one year low of $122.14 and a one year high of $169.57. The company has a market cap of $15.99 billion, a P/E ratio of 24.50, a PEG ratio of 1.17 and a beta of 0.40. The business’s 50-day simple moving average is $147.48 and its 200-day simple moving average is $140.68.

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.