Simplify Asset Management Inc. Buys New Stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Simplify Asset Management Inc. bought a new stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 22,834 shares of the company's stock, valued at approximately $3,144,000.

A number of other large investors also recently modified their holdings of NBIX. Mather Group LLC. purchased a new stake in Neurocrine Biosciences in the 1st quarter worth $26,000. RFP Financial Group LLC lifted its stake in Neurocrine Biosciences by 346.5% in the 1st quarter. RFP Financial Group LLC now owns 192 shares of the company's stock worth $26,000 after purchasing an additional 149 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in Neurocrine Biosciences in the 2nd quarter worth $28,000. Innealta Capital LLC purchased a new stake in Neurocrine Biosciences in the 2nd quarter worth $30,000. Finally, New Covenant Trust Company N.A. purchased a new stake in Neurocrine Biosciences in the 1st quarter worth $32,000. Hedge funds and other institutional investors own 92.59% of the company's stock.

Neurocrine Biosciences Price Performance

NBIX stock traded down $2.11 during mid-day trading on Friday, reaching $118.35. The company had a trading volume of 1,282,568 shares, compared to its average volume of 858,616. The company has a market capitalization of $11.91 billion, a PE ratio of 32.60 and a beta of 0.37. The firm has a 50 day moving average of $138.49 and a 200 day moving average of $138.14. Neurocrine Biosciences, Inc. has a 12 month low of $103.63 and a 12 month high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its earnings results on Thursday, August 1st. The company reported $0.63 EPS for the quarter, missing analysts' consensus estimates of $1.15 by ($0.52). The company had revenue of $590.20 million during the quarter, compared to the consensus estimate of $545.98 million. Neurocrine Biosciences had a return on equity of 14.86% and a net margin of 16.00%. Neurocrine Biosciences's revenue was up 30.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.95 earnings per share. Analysts anticipate that Neurocrine Biosciences, Inc. will post 4.19 EPS for the current year.

Insiders Place Their Bets

In other news, insider Julie Cooke sold 10,000 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $140.19, for a total transaction of $1,401,900.00. Following the transaction, the insider now directly owns 18,202 shares in the company, valued at $2,551,738.38. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Gary A. Lyons sold 11,570 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $150.43, for a total transaction of $1,740,475.10. Following the transaction, the director now directly owns 119,047 shares in the company, valued at $17,908,240.21. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Julie Cooke sold 10,000 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $140.19, for a total transaction of $1,401,900.00. Following the transaction, the insider now owns 18,202 shares in the company, valued at $2,551,738.38. The disclosure for this sale can be found here. Insiders have sold 71,798 shares of company stock worth $10,676,096 in the last three months. Corporate insiders own 4.30% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on NBIX. Wedbush reiterated an "outperform" rating and issued a $152.00 price target on shares of Neurocrine Biosciences in a research note on Wednesday, May 29th. Oppenheimer upped their target price on shares of Neurocrine Biosciences from $216.00 to $219.00 and gave the company an "outperform" rating in a research report on Friday, August 2nd. BMO Capital Markets decreased their target price on shares of Neurocrine Biosciences from $142.00 to $128.00 and set a "market perform" rating on the stock in a research report on Thursday, August 29th. Barclays decreased their target price on shares of Neurocrine Biosciences from $180.00 to $160.00 and set an "overweight" rating on the stock in a research report on Monday, September 9th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $155.00 target price on shares of Neurocrine Biosciences in a research report on Monday. Five equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $162.20.

Neurocrine Biosciences Profile

Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, neuroendocrine, and neuropsychiatric disorders in the United States and internationally. The company's products include INGREZZA for tardive dyskinesia and chorea associated with Huntington's disease; ALKINDI for adrenal insufficiency; Efmody capsules for classic congenital adrenal hyperplasia; Orilissa tablets for endometriosis; and Oriahnn capsules to treat uterine fibroids.