Beacon Harbor Wealth Advisors Inc. Takes $5.52 Million Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Beacon Harbor Wealth Advisors Inc. purchased a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 47,917 shares of the company’s stock, valued at approximately $5,521,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Neurocrine Biosciences by 0.8% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 11,436 shares of the company’s stock valued at $1,574,000 after buying an additional 90 shares during the period. Fifth Third Bancorp lifted its holdings in Neurocrine Biosciences by 14.7% in the second quarter. Fifth Third Bancorp now owns 716 shares of the company’s stock valued at $99,000 after acquiring an additional 92 shares during the period. Total Clarity Wealth Management Inc. boosted its position in shares of Neurocrine Biosciences by 4.3% during the 2nd quarter. Total Clarity Wealth Management Inc. now owns 2,433 shares of the company’s stock worth $335,000 after purchasing an additional 100 shares in the last quarter. Caprock Group LLC grew its stake in shares of Neurocrine Biosciences by 7.0% during the 2nd quarter. Caprock Group LLC now owns 1,669 shares of the company’s stock worth $230,000 after purchasing an additional 109 shares during the period. Finally, Red Spruce Capital LLC increased its holdings in shares of Neurocrine Biosciences by 0.8% in the 2nd quarter. Red Spruce Capital LLC now owns 16,150 shares of the company’s stock valued at $2,223,000 after purchasing an additional 124 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Neurocrine Biosciences Price Performance

Shares of NBIX stock opened at $123.98 on Friday. The firm’s 50-day simple moving average is $118.45 and its 200-day simple moving average is $133.21. Neurocrine Biosciences, Inc. has a 1-year low of $103.63 and a 1-year high of $157.98. The firm has a market cap of $12.55 billion, a P/E ratio of 33.24 and a beta of 0.35.

Analyst Ratings Changes

A number of research firms recently commented on NBIX. Guggenheim boosted their price objective on shares of Neurocrine Biosciences from $170.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Barclays lowered their price target on Neurocrine Biosciences from $180.00 to $160.00 and set an “overweight” rating on the stock in a report on Monday, September 9th. Jefferies Financial Group lifted their price objective on Neurocrine Biosciences from $177.00 to $189.00 and gave the stock a “buy” rating in a report on Monday, August 19th. Cantor Fitzgerald reissued an “overweight” rating and issued a $155.00 target price on shares of Neurocrine Biosciences in a report on Monday, September 16th. Finally, Raymond James restated an “outperform” rating and issued a $155.00 price target on shares of Neurocrine Biosciences in a research report on Thursday, October 10th. Five research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Neurocrine Biosciences currently has a consensus rating of “Moderate Buy” and an average target price of $163.91.

Insiders Place Their Bets

In other news, Director William H. Rastetter sold 14,250 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $146.69, for a total value of $2,090,332.50. Following the transaction, the director now directly owns 37,491 shares in the company, valued at $5,499,554.79. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Neurocrine Biosciences news, Director William H. Rastetter sold 14,250 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $146.69, for a total transaction of $2,090,332.50. Following the completion of the sale, the director now directly owns 37,491 shares in the company, valued at $5,499,554.79. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ingrid Delaet sold 7,143 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $150.10, for a total transaction of $1,072,164.30. Following the completion of the transaction, the insider now directly owns 2,507 shares in the company, valued at approximately $376,300.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,063 shares of company stock valued at $7,023,330 over the last quarter. Company insiders own 4.30% of the company’s stock.

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.