3,767 Shares in Neurocrine Biosciences, Inc. $NBIX Bought by Ground Swell Capital LLC

Ground Swell Capital LLC purchased a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 3,767 shares of the company’s stock, valued at approximately $496,000. Neurocrine Biosciences makes up about 1.0% of Ground Swell Capital LLC’s investment portfolio, making the stock its 22nd biggest holding.

Several other institutional investors and hedge funds have also bought and sold shares of NBIX. Louisiana State Employees Retirement System bought a new position in Neurocrine Biosciences in the 1st quarter valued at about $3,834,000. Ritholtz Wealth Management raised its position in shares of Neurocrine Biosciences by 11.6% in the 1st quarter. Ritholtz Wealth Management now owns 1,697 shares of the company’s stock valued at $224,000 after buying an additional 176 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Neurocrine Biosciences by 5,844.4% during the 1st quarter. Blue Trust Inc. now owns 535 shares of the company’s stock worth $70,000 after acquiring an additional 526 shares during the period. Davis Investment Partners LLC lifted its holdings in shares of Neurocrine Biosciences by 8.0% during the 1st quarter. Davis Investment Partners LLC now owns 4,459 shares of the company’s stock worth $587,000 after acquiring an additional 329 shares during the period. Finally, Fifth Third Wealth Advisors LLC lifted its holdings in shares of Neurocrine Biosciences by 13.7% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 3,563 shares of the company’s stock worth $469,000 after acquiring an additional 430 shares during the period. Institutional investors own 92.59% of the company’s stock.

Insiders Place Their Bets

In other Neurocrine Biosciences news, insider Jude Onyia sold 11,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $160.25, for a total value of $1,762,750.00. Following the sale, the insider owned 25,846 shares in the company, valued at $4,141,821.50. This trade represents a 29.85% decrease in their ownership of the stock. The sale 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, insider Julie Cooke sold 36,937 shares of the company’s stock in a transaction on 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 transaction, the insider owned 22,374 shares of the company’s stock, valued at $3,495,266.28. This trade represents a 62.28% 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 355,234 shares of company stock worth $55,330,060 over the last 90 days. Insiders own 4.60% of the company’s stock.

Neurocrine Biosciences Trading Up 2.6%

Shares of Neurocrine Biosciences stock opened at $168.52 on Friday. The firm has a market capitalization of $16.94 billion, a PE ratio of 25.97, a price-to-earnings-growth ratio of 0.65 and a beta of 0.40. The firm’s 50 day moving average is $151.99 and its 200 day moving average is $141.24. Neurocrine Biosciences, Inc. has a 1 year low of $122.14 and a 1 year high of $169.57.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NBIX. Guggenheim reissued a “buy” rating and issued a $175.00 price objective on shares of Neurocrine Biosciences in a research note on Wednesday, May 6th. Canaccord Genuity Group upped their target price on Neurocrine Biosciences from $164.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, April 7th. Weiss Ratings raised Neurocrine Biosciences from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday. Truist Financial lifted 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, Needham & Company LLC reissued a “buy” rating and set a $185.00 price target on shares of Neurocrine Biosciences in a report on Monday, April 6th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $187.52.

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.