Ashton Thomas Private Wealth LLC Makes New $28,000 Investment in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Ashton Thomas Private Wealth LLC purchased a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 204 shares of the company’s stock, valued at approximately $28,000.

A number of other hedge funds have also recently made changes to their positions in NBIX. Pier 88 Investment Partners LLC lifted its position in Neurocrine Biosciences by 144.8% in the second quarter. Pier 88 Investment Partners LLC now owns 3,550 shares of the company’s stock valued at $489,000 after purchasing an additional 2,100 shares during the last quarter. Caprock Group LLC increased its stake in shares of Neurocrine Biosciences by 7.0% in the second quarter. Caprock Group LLC now owns 1,669 shares of the company’s stock worth $230,000 after buying an additional 109 shares during the period. Acadian Asset Management LLC raised its holdings in Neurocrine Biosciences by 20.1% during the 2nd quarter. Acadian Asset Management LLC now owns 4,164 shares of the company’s stock valued at $571,000 after buying an additional 698 shares during the last quarter. Candriam S.C.A. boosted its position in Neurocrine Biosciences by 47.4% during the 2nd quarter. Candriam S.C.A. now owns 465,467 shares of the company’s stock valued at $64,078,000 after buying an additional 149,783 shares during the period. Finally, Arizona State Retirement System grew its holdings in Neurocrine Biosciences by 1.1% in the 2nd quarter. Arizona State Retirement System now owns 27,334 shares of the company’s stock worth $3,763,000 after acquiring an additional 310 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Barclays lowered their price objective on shares of Neurocrine Biosciences from $180.00 to $160.00 and set an “overweight” rating for the company in a research note on Monday, September 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Neurocrine Biosciences in a research report on Thursday, August 29th. Royal Bank of Canada cut their price objective on Neurocrine Biosciences from $143.00 to $136.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 29th. HC Wainwright restated a “buy” rating and set a $190.00 target price on shares of Neurocrine Biosciences in a report on Thursday, August 29th. Finally, Wedbush reiterated an “outperform” rating and issued a $152.00 price target on shares of Neurocrine Biosciences in a report on Wednesday, May 29th. Five investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Neurocrine Biosciences presently has a consensus rating of “Moderate Buy” and an average target price of $162.20.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director William H. Rastetter sold 14,250 shares of the business’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 completion of the transaction, the director now owns 37,491 shares of the company’s stock, valued at approximately $5,499,554.79. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Julie Cooke sold 10,000 shares of the firm’s 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 transaction, the insider now directly owns 18,202 shares in the company, valued at approximately $2,551,738.38. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director William H. Rastetter sold 14,250 shares of Neurocrine Biosciences stock in a transaction on 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 completion of the sale, the director now directly owns 37,491 shares of the company’s stock, valued at approximately $5,499,554.79. The disclosure for this sale can be found here. Insiders have sold 71,798 shares of company stock valued at $10,676,096 over the last ninety days. Insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ NBIX opened at $122.31 on Wednesday. The firm’s 50 day moving average price is $140.13 and its 200-day moving average price is $138.50. Neurocrine Biosciences, Inc. has a 52-week low of $103.63 and a 52-week high of $157.98. The company has a market cap of $12.31 billion, a PE ratio of 33.69 and a beta of 0.37.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.52). The business had revenue of $590.20 million during the quarter, compared to the consensus estimate of $545.98 million. Neurocrine Biosciences had a net margin of 16.00% and a return on equity of 14.86%. The business’s revenue was up 30.4% compared to the same quarter last year. During the same period last year, the company posted $0.95 earnings per share. On average, analysts forecast that Neurocrine Biosciences, Inc. will post 4.19 earnings per share for the current fiscal year.

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.