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

Shelton Wealth Management LLC raised its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 62.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,959 shares of the company’s stock after purchasing an additional 3,847 shares during the period. Shelton Wealth Management LLC’s holdings in Neurocrine Biosciences were worth $1,413,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. BlackRock Inc. purchased a new position in shares of Neurocrine Biosciences in the second quarter valued at approximately $2,310,886,000. Renaissance Technologies LLC increased its position in shares of Neurocrine Biosciences by 8.0% during the first quarter. Renaissance Technologies LLC now owns 2,418,897 shares of the company’s stock worth $318,665,000 after purchasing an additional 180,100 shares in the last quarter. First Trust Advisors LP increased its position in shares of Neurocrine Biosciences by 97.0% during the first quarter. First Trust Advisors LP now owns 959,217 shares of the company’s stock worth $126,367,000 after purchasing an additional 472,408 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in Neurocrine Biosciences in the 2nd quarter valued at $117,827,000. Finally, Ieq Capital LLC acquired a new position in Neurocrine Biosciences in the 2nd quarter valued at $107,914,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ NBIX traded down $1.24 during midday trading on Friday, reaching $135.71. 1,127,435 shares of the stock were exchanged, compared to its average volume of 1,506,312. The stock has a market capitalization of $13.79 billion, a P/E ratio of 19.90, a PEG ratio of 0.60 and a beta of 0.40. The company has a 50 day simple moving average of $149.10 and a 200 day simple moving average of $153.45. Neurocrine Biosciences, Inc. has a twelve month low of $122.14 and a twelve month high of $186.12.

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

Insider Activity

In other news, CFO Matt Abernethy sold 2,311 shares of the stock in a transaction on Monday, September 14th. The stock was sold at an average price of $157.20, for a total transaction of $363,289.20. Following the completion of the transaction, the chief financial officer directly owned 42,808 shares in the company, valued at approximately $6,729,417.60. This represents a 5.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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, insider David Boyer sold 826 shares of the firm’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $157.45, for a total value of $130,053.70. Following 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders have sold a total of 4,387 shares of company stock valued at $720,855 in the last quarter. Insiders own 4.60% of the company’s stock.

Wall Street Analyst Weigh In

NBIX has been the topic of several recent research reports. Piper Sandler lifted their target price on shares of Neurocrine Biosciences from $207.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. Cantor Fitzgerald raised their price target on shares of Neurocrine Biosciences from $210.00 to $215.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. BMO Capital Markets dropped their price objective on shares of Neurocrine Biosciences from $164.00 to $150.00 and set a “market perform” rating for the company in a research note on Monday, October 12th. Wedbush increased their price objective on shares of Neurocrine Biosciences from $185.00 to $194.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. Finally, Citigroup raised their target price on shares of Neurocrine Biosciences from $249.00 to $253.00 and gave the stock a “buy” rating in a research note on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.