Neurocrine Biosciences, Inc. $NBIX is Armistice Capital LLC’s 8th Largest Position

Armistice Capital LLC grew its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 17.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 820,240 shares of the company’s stock after buying an additional 123,218 shares during the period. Neurocrine Biosciences accounts for about 1.4% of Armistice Capital LLC’s holdings, making the stock its 8th biggest holding. Armistice Capital LLC owned 0.82% of Neurocrine Biosciences worth $116,335,000 as of its most recent SEC filing.

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

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director Stephen A. Sherwin sold 25,000 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $165.32, for a total value of $4,133,000.00. Following the transaction, the director owned 15,860 shares of the company’s stock, valued at $2,621,975.20. This represents a 61.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through 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 stock in a transaction dated 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 directly owned 22,374 shares of the company’s stock, valued at approximately $3,495,266.28. This trade represents a 62.28% 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. Insiders sold 355,234 shares of company stock worth $55,330,060 in the last 90 days. Insiders own 4.60% of the company’s stock.

Neurocrine Biosciences Stock Up 1.6%

NBIX stock opened at $159.00 on Thursday. Neurocrine Biosciences, Inc. has a 52-week low of $122.14 and a 52-week high of $169.57. The stock has a market cap of $15.99 billion, a price-to-earnings ratio of 24.50, a price-to-earnings-growth ratio of 1.17 and a beta of 0.40. The business has a fifty day moving average of $147.48 and a two-hundred day moving average of $140.68.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Needham & Company LLC reiterated a “buy” rating and set a $185.00 price objective on shares of Neurocrine Biosciences in a research report on Monday, April 6th. Wolfe Research assumed coverage on Neurocrine Biosciences in a research note on Tuesday, February 24th. They issued an “outperform” rating and a $160.00 target price for the company. Morgan Stanley lifted their price target on Neurocrine Biosciences from $185.00 to $191.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Sanford C. Bernstein started coverage on shares of Neurocrine Biosciences in a research report on Friday, May 22nd. They set an “outperform” rating and a $221.00 price target on the stock. Finally, Citigroup raised their price objective on shares of Neurocrine Biosciences from $242.00 to $246.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.