Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Shares Bought by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. raised its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 6.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,710 shares of the company’s stock after acquiring an additional 168 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Neurocrine Biosciences were worth $373,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Vestal Point Capital LP acquired a new position in shares of Neurocrine Biosciences during the fourth quarter worth about $105,408,000. Los Angeles Capital Management LLC grew its position in shares of Neurocrine Biosciences by 66.0% during the fourth quarter. Los Angeles Capital Management LLC now owns 918,391 shares of the company’s stock worth $121,007,000 after buying an additional 364,986 shares in the last quarter. Norges Bank acquired a new position in shares of Neurocrine Biosciences during the fourth quarter worth about $35,731,000. Vanguard Group Inc. grew its position in shares of Neurocrine Biosciences by 2.3% during the first quarter. Vanguard Group Inc. now owns 9,930,926 shares of the company’s stock worth $1,369,673,000 after buying an additional 220,598 shares in the last quarter. Finally, Iron Triangle Partners LP acquired a new position in shares of Neurocrine Biosciences during the first quarter worth about $30,342,000. 92.59% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Neurocrine Biosciences news, insider Julie Cooke sold 10,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $140.19, for a total value of $1,401,900.00. Following the completion of the transaction, the insider now owns 18,202 shares in the company, valued at $2,551,738.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Neurocrine Biosciences news, insider Julie Cooke sold 10,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $140.19, for a total value of $1,401,900.00. Following the completion of the transaction, the insider now owns 18,202 shares in the company, valued at $2,551,738.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stephen A. Sherwin sold 40,000 shares of the stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $133.46, for a total value of $5,338,400.00. Following the completion of the transaction, the director now owns 26,504 shares of the company’s stock, valued at approximately $3,537,223.84. The disclosure for this sale can be found here. Over the last quarter, insiders sold 111,798 shares of company stock worth $16,014,496. 4.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on NBIX shares. Needham & Company LLC reissued a “hold” rating on shares of Neurocrine Biosciences in a research report on Thursday, August 1st. Wedbush restated an “outperform” rating and set a $152.00 target price on shares of Neurocrine Biosciences in a research note on Wednesday, May 29th. BMO Capital Markets upped their price target on Neurocrine Biosciences from $129.00 to $138.00 and gave the company a “market perform” rating in a report on Thursday, May 2nd. Guggenheim upped their price target on Neurocrine Biosciences from $170.00 to $180.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, HC Wainwright upped their price target on Neurocrine Biosciences from $160.00 to $190.00 and gave the company a “buy” rating in a report on Monday, August 5th. Six equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $161.32.

Neurocrine Biosciences Price Performance

Shares of NASDAQ NBIX opened at $150.89 on Thursday. The stock has a fifty day moving average price of $142.89 and a 200 day moving average price of $139.11. Neurocrine Biosciences, Inc. has a 1-year low of $103.63 and a 1-year high of $157.98. The company has a market cap of $15.19 billion, a PE ratio of 41.57 and a beta of 0.37.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.52). Neurocrine Biosciences had a return on equity of 14.86% and a net margin of 16.00%. The company had revenue of $590.20 million for the quarter, compared to analyst estimates of $545.98 million. During the same period in the prior year, the business earned $0.95 earnings per share. Neurocrine Biosciences’s revenue for the quarter was up 30.4% compared to the same quarter last year. Analysts anticipate that Neurocrine Biosciences, Inc. will post 4.22 earnings per share for the current fiscal year.

Neurocrine Biosciences Company 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.