29,424 Shares in Neurocrine Biosciences, Inc. $NBIX Acquired by Summit Global Investments

Summit Global Investments purchased a new position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 29,424 shares of the company’s stock, valued at approximately $4,959,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. DJE Kapital AG bought a new stake in shares of Neurocrine Biosciences during the fourth quarter valued at approximately $28,000. Geneos Wealth Management Inc. boosted 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 acquiring an additional 135 shares during the last quarter. Meeder Asset Management Inc. boosted its position in shares of Neurocrine Biosciences by 651.6% during the fourth quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock worth $33,000 after acquiring an additional 202 shares during the last quarter. Basecamp Wealth Advisors LLC grew its stake in Neurocrine Biosciences by 582.9% during the first quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company’s stock valued at $31,000 after acquiring an additional 204 shares in the last quarter. Finally, Cassaday & Co Wealth Management LLC purchased a new position in Neurocrine Biosciences during the first quarter valued at $33,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Darin Lippoldt sold 10,000 shares of the firm’s stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $179.60, for a total value of $1,796,000.00. Following the completion of the sale, the insider directly owned 54,729 shares in the company, valued at $9,829,328.40. This trade represents a 15.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Leslie V. Norwalk sold 1,250 shares of Neurocrine Biosciences stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $182.01, for a total transaction of $227,512.50. Following the transaction, the director directly owned 1,588 shares of the company’s stock, valued at $289,031.88. The trade was a 44.05% 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. Over the last 90 days, insiders have sold 376,612 shares of company stock worth $59,493,355. 4.60% of the stock is currently owned by corporate insiders.

Neurocrine Biosciences Price Performance

NASDAQ:NBIX opened at $152.72 on Friday. The firm has a market capitalization of $15.52 billion, a price-to-earnings ratio of 22.39, a PEG ratio of 0.53 and a beta of 0.39. The business has a 50 day simple moving average of $167.98 and a 200-day simple moving average of $148.23. Neurocrine Biosciences, Inc. has a 1 year low of $122.14 and a 1 year high of $186.12.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Piper Sandler lifted their price target on shares of Neurocrine Biosciences from $207.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Zacks Research downgraded shares of Neurocrine Biosciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. JPMorgan Chase & Co. raised their price objective on Neurocrine Biosciences from $177.00 to $185.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Morgan Stanley reduced their target price on Neurocrine Biosciences from $196.00 to $182.00 and set an “equal weight” rating on the stock in a report on Thursday. Finally, Sanford C. Bernstein started coverage on Neurocrine Biosciences in a research report on Friday, May 22nd. They issued an “outperform” rating and a $221.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $200.86.

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.