Catalyst Capital Advisors LLC Takes $1.11 Million Position in Neurocrine Biosciences, Inc. $NBIX

Catalyst Capital Advisors LLC purchased a new stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 7,800 shares of the company’s stock, valued at approximately $1,106,000.

Other institutional investors have also recently made changes to their positions in the company. Nilsine Partners LLC purchased a new stake in shares of Neurocrine Biosciences during the 4th quarter valued at about $1,197,000. Ruffer LLP purchased a new stake in shares of Neurocrine Biosciences during the 4th quarter valued at about $2,479,000. Korea Investment CORP boosted its holdings in shares of Neurocrine Biosciences by 94.3% during the 3rd quarter. Korea Investment CORP now owns 71,689 shares of the company’s stock valued at $10,064,000 after acquiring an additional 34,800 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Neurocrine Biosciences by 2.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 202,846 shares of the company’s stock valued at $28,476,000 after acquiring an additional 4,807 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted its holdings in shares of Neurocrine Biosciences by 17,250.0% in the third quarter. CIBC Private Wealth Group LLC now owns 7,981 shares of the company’s stock worth $1,120,000 after buying an additional 7,935 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Insider Buying and Selling at Neurocrine Biosciences

In other news, Director Kevin Charles Gorman sold 245,088 shares of the business’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 transaction, the director owned 511,293 shares of the company’s stock, valued at approximately $78,907,848.69. The trade was a 32.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Richard F. Pops sold 15,000 shares of the business’s stock in a transaction on Friday, May 15th. The stock was 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 position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 278,786 shares of company stock valued at $43,099,615. 4.60% of the stock is currently owned by company insiders.

Neurocrine Biosciences Price Performance

Shares of NASDAQ:NBIX opened at $158.30 on Friday. Neurocrine Biosciences, Inc. has a 1-year low of $121.42 and a 1-year high of $162.39. The company has a market capitalization of $15.92 billion, a P/E ratio of 24.39, a P/E/G ratio of 1.17 and a beta of 0.34. The firm’s 50 day simple moving average is $139.36 and its two-hundred day simple moving average is $139.16.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Sanford C. Bernstein assumed coverage on shares of Neurocrine Biosciences in a research report on Friday, May 22nd. They set an “outperform” rating and a $221.00 target price for the company. Needham & Company LLC restated a “buy” rating and set a $185.00 target price on shares of Neurocrine Biosciences in a research report on Monday, April 6th. Weiss Ratings restated a “hold (c+)” rating on shares of Neurocrine Biosciences in a research report on Tuesday, April 21st. Wall Street Zen upgraded shares of Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 25th. Finally, BMO Capital Markets cut their target price on shares of Neurocrine Biosciences from $147.00 to $140.00 and set a “market perform” rating for the company in a research report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $186.05.

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.