Neurocrine Biosciences, Inc. $NBIX Stock Position Lifted by Shelton Wealth Management LLC

Shelton Wealth Management LLC grew its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 62.9% during the third quarter, Holdings Channel reports. The firm owned 9,959 shares of the company’s stock after acquiring an additional 3,847 shares during the quarter. Shelton Wealth Management LLC’s holdings in Neurocrine Biosciences were worth $1,413,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of NBIX. Bank of America Corp DE grew its position in Neurocrine Biosciences by 10.6% in the 1st quarter. Bank of America Corp DE now owns 583,827 shares of the company’s stock valued at $76,913,000 after acquiring an additional 55,723 shares in the last quarter. ABN AMRO Bank N.V. purchased a new stake in Neurocrine Biosciences during the second quarter worth about $2,510,000. Focus Partners Advisor Solutions LLC acquired a new stake in shares of Neurocrine Biosciences during the second quarter worth about $1,927,000. Engineers Gate Manager LP increased its stake in Neurocrine Biosciences by 64.0% during the 2nd quarter. Engineers Gate Manager LP now owns 18,361 shares of the company’s stock worth $3,094,000 after buying an additional 7,163 shares during the period. Finally, SEB Asset Management AB acquired a new stake in Neurocrine Biosciences during the 1st quarter worth approximately $10,483,000. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Neurocrine Biosciences Price Performance

Shares of NBIX traded down $1.24 during midday trading on Friday, reaching $135.71. The stock had a trading volume of 1,127,435 shares, compared to its average volume of 1,506,312. The company has a market cap of $13.79 billion, a price-to-earnings ratio of 19.90, a PEG ratio of 0.60 and a beta of 0.40. The company’s fifty day simple moving average is $149.10 and its two-hundred day simple moving average is $153.45. Neurocrine Biosciences, Inc. has a 1-year low of $122.14 and a 1-year high of $186.12.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its earnings results on Friday, July 31st. The company reported $2.85 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $1.20. The firm had revenue of $959.00 million during the quarter, compared to the consensus estimate of $891.16 million. Neurocrine Biosciences had a net margin of 20.91% and a return on equity of 22.43%. The company’s revenue was up 39.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.65 earnings per share. On average, sell-side analysts forecast that Neurocrine Biosciences, Inc. will post 7.70 earnings per share for the current year.

Insiders Place Their Bets

In other Neurocrine Biosciences news, insider David Boyer sold 826 shares of Neurocrine Biosciences stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $157.45, for a total transaction of $130,053.70. Following the completion of the sale, the insider directly owned 8,722 shares of the company’s stock, valued at $1,373,278.90. The trade was a 8.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Leslie V. Norwalk sold 1,250 shares of the company’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $182.01, for a total value of $227,512.50. Following the transaction, the director directly owned 1,588 shares of the company’s stock, valued at approximately $289,031.88. This represents a 44.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 4,387 shares of company stock valued at $720,855 in the last ninety days. Insiders own 4.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on NBIX shares. Mizuho raised shares of Neurocrine Biosciences to a “hold” rating in a research report on Wednesday, September 16th. Zacks Research lowered Neurocrine Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. TD Cowen upped their price objective on Neurocrine Biosciences from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Wells Fargo & Company increased their price objective on Neurocrine Biosciences from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, July 17th. Finally, Wall Street Zen lowered Neurocrine Biosciences from a “buy” rating to a “hold” rating in a report on Sunday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $201.14.

Neurocrine Biosciences Profile

Neurocrine Biosciences, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for neurological, neuroendocrine and related disorders. The company is headquartered in San Diego, California, and conducts research through internal programs and collaborations with academic institutions and other pharmaceutical companies.

Neurocrine’s principal commercial product is INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor used to treat tardive dyskinesia and chorea associated with Huntington’s disease.