Summit Global Investments Sells 24,024 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Summit Global Investments trimmed its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 31.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 53,577 shares of the company's stock after selling 24,024 shares during the period. Summit Global Investments owned 0.05% of Neurocrine Biosciences worth $6,173,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Beacon Harbor Wealth Advisors Inc. bought a new position in Neurocrine Biosciences in the 3rd quarter valued at about $5,521,000. Kornitzer Capital Management Inc. KS bought a new position in shares of Neurocrine Biosciences during the third quarter worth approximately $3,588,000. AlphaCentric Advisors LLC lifted its holdings in Neurocrine Biosciences by 221.4% during the 3rd quarter. AlphaCentric Advisors LLC now owns 22,500 shares of the company's stock worth $2,592,000 after purchasing an additional 15,500 shares during the last quarter. Impax Asset Management Group plc grew its holdings in Neurocrine Biosciences by 70.0% in the 3rd quarter. Impax Asset Management Group plc now owns 85,000 shares of the company's stock valued at $9,794,000 after buying an additional 35,000 shares in the last quarter. Finally, QRG Capital Management Inc. increased its position in Neurocrine Biosciences by 3.2% during the 3rd quarter. QRG Capital Management Inc. now owns 18,279 shares of the company's stock worth $2,106,000 after buying an additional 569 shares during the period. 92.59% of the stock is currently owned by institutional investors.

Neurocrine Biosciences Price Performance

NASDAQ NBIX traded up $2.23 during mid-day trading on Friday, reaching $126.21. 319,744 shares of the stock were exchanged, compared to its average volume of 862,557. The stock has a market cap of $12.78 billion, a P/E ratio of 33.60 and a beta of 0.35. Neurocrine Biosciences, Inc. has a one year low of $103.63 and a one year high of $157.98. The stock has a 50 day simple moving average of $118.45 and a 200-day simple moving average of $133.21.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Ingrid Delaet sold 7,143 shares of Neurocrine Biosciences stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $150.10, for a total value of $1,072,164.30. Following the completion of the sale, the insider now directly owns 2,507 shares in the company, valued at approximately $376,300.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Ingrid Delaet sold 7,143 shares of Neurocrine Biosciences stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $150.10, for a total value of $1,072,164.30. Following the completion of the sale, the insider now owns 2,507 shares in the company, valued at $376,300.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gary A. Lyons sold 11,570 shares of the firm's stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $150.43, for a total transaction of $1,740,475.10. Following the completion of the sale, the director now owns 119,047 shares of the company's stock, valued at $17,908,240.21. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,063 shares of company stock valued at $7,023,330. Corporate insiders own 4.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. HC Wainwright reaffirmed a "buy" rating and set a $190.00 price target on shares of Neurocrine Biosciences in a research report on Friday, November 1st. Guggenheim raised their price target on Neurocrine Biosciences from $170.00 to $180.00 and gave the stock a "buy" rating in a research report on Friday, August 2nd. BMO Capital Markets decreased their target price on shares of Neurocrine Biosciences from $128.00 to $114.00 and set a "market perform" rating on the stock in a report on Thursday, October 17th. Raymond James restated an "outperform" rating and set a $155.00 target price on shares of Neurocrine Biosciences in a research note on Thursday, October 10th. Finally, Oppenheimer boosted their price target on Neurocrine Biosciences from $216.00 to $219.00 and gave the stock an "outperform" rating in a report on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $163.91.

About Neurocrine Biosciences

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.