Envestnet Asset Management Inc. Has $13.53 Million Stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Envestnet Asset Management Inc. trimmed its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 39.8% during the 1st quarter, HoldingsChannel.com reports. The firm owned 122,306 shares of the company’s stock after selling 80,904 shares during the period. Envestnet Asset Management Inc.’s holdings in Neurocrine Biosciences were worth $13,527,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of NBIX. Huntington National Bank grew its position in Neurocrine Biosciences by 73.5% in the 4th quarter. Huntington National Bank now owns 229 shares of the company’s stock worth $31,000 after purchasing an additional 97 shares during the last quarter. Smallwood Wealth Investment Management LLC acquired a new stake in Neurocrine Biosciences in the 1st quarter worth $34,000. GeoWealth Management LLC grew its position in Neurocrine Biosciences by 65.4% in the 4th quarter. GeoWealth Management LLC now owns 258 shares of the company’s stock worth $35,000 after purchasing an additional 102 shares during the last quarter. Golden State Wealth Management LLC grew its position in Neurocrine Biosciences by 116.9% in the 1st quarter. Golden State Wealth Management LLC now owns 397 shares of the company’s stock worth $44,000 after purchasing an additional 214 shares during the last quarter. Finally, Versant Capital Management Inc grew its position in Neurocrine Biosciences by 404.9% in the 1st quarter. Versant Capital Management Inc now owns 409 shares of the company’s stock worth $45,000 after purchasing an additional 328 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Wedbush restated an “outperform” rating on shares of Neurocrine Biosciences in a research report on Tuesday, May 6th. UBS Group raised their price target on shares of Neurocrine Biosciences from $152.00 to $174.00 and gave the stock a “buy” rating in a research report on Wednesday, July 9th. Guggenheim raised their price objective on shares of Neurocrine Biosciences from $155.00 to $165.00 and gave the stock a “buy” rating in a report on Tuesday, May 6th. The Goldman Sachs Group began coverage on shares of Neurocrine Biosciences in a report on Thursday, July 10th. They set a “buy” rating and a $182.00 price objective for the company. Finally, Evercore ISI reduced their price objective on shares of Neurocrine Biosciences from $190.00 to $185.00 and set an “outperform” rating for the company in a report on Thursday, April 24th. Three research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $163.91.

Neurocrine Biosciences Trading Down 1.6%

Shares of NASDAQ NBIX opened at $132.02 on Friday. Neurocrine Biosciences, Inc. has a 1-year low of $84.23 and a 1-year high of $157.98. The company has a market cap of $13.07 billion, a PE ratio of 44.75, a P/E/G ratio of 1.37 and a beta of 0.24. The company has a 50-day moving average of $125.51 and a two-hundred day moving average of $121.51.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results on Monday, May 5th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.62). The company had revenue of $572.60 million during the quarter, compared to the consensus estimate of $587.06 million. Neurocrine Biosciences had a return on equity of 11.81% and a net margin of 12.68%. The company’s revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.20 earnings per share. As a group, equities research analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Insider Buying and Selling at Neurocrine Biosciences

In related news, Director William H. Rastetter sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $110.20, for a total transaction of $3,306,000.00. Following the completion of the sale, the director directly owned 37,491 shares of the company’s stock, valued at $4,131,508.20. The trade was a 44.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Jude Onyia sold 59,819 shares of the business’s stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $130.46, for a total transaction of $7,803,986.74. Following the sale, the insider directly owned 18,289 shares of the company’s stock, valued at approximately $2,385,982.94. This trade represents a 76.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 120,251 shares of company stock valued at $14,978,602. 4.80% of the stock is currently owned by corporate insiders.

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.