Envestnet Asset Management Inc. Purchases 3,396 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Envestnet Asset Management Inc. grew its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 1.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 202,793 shares of the company’s stock after acquiring an additional 3,396 shares during the period. Envestnet Asset Management Inc. owned about 0.20% of Neurocrine Biosciences worth $27,919,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in Neurocrine Biosciences during the 4th quarter valued at $35,731,000. The Manufacturers Life Insurance Company lifted its stake in Neurocrine Biosciences by 18.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 116,955 shares of the company’s stock valued at $15,410,000 after purchasing an additional 18,070 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Neurocrine Biosciences by 3.5% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 252,565 shares of the company’s stock valued at $34,834,000 after acquiring an additional 8,630 shares during the period. Vanguard Group Inc. lifted its stake in shares of Neurocrine Biosciences by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 9,710,328 shares of the company’s stock valued at $1,279,433,000 after buying an additional 150,485 shares in the last quarter. Finally, Perceptive Advisors LLC boosted its holdings in shares of Neurocrine Biosciences by 70.1% in the fourth quarter. Perceptive Advisors LLC now owns 270,794 shares of the company’s stock worth $35,680,000 after acquiring an additional 111,552 shares during the period. 92.59% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on NBIX. Wedbush reaffirmed an “outperform” rating and set a $152.00 price target on shares of Neurocrine Biosciences in a research note on Wednesday, May 29th. Citigroup upped their price objective on shares of Neurocrine Biosciences from $150.00 to $158.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. UBS Group raised their target price on shares of Neurocrine Biosciences from $174.00 to $193.00 and gave the company a “buy” rating in a research note on Tuesday, May 28th. 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. Finally, StockNews.com raised Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 4th. Five investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $162.20.

Insider Buying and Selling

In related news, Director William H. Rastetter sold 14,250 shares of the firm’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 sale, the director now owns 37,491 shares in the company, valued at $5,499,554.79. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Julie Cooke sold 12,632 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $153.26, for a total value of $1,935,980.32. Following the transaction, the insider now directly owns 18,202 shares in the company, valued at approximately $2,789,638.52. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director William H. Rastetter sold 14,250 shares of the 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 in the company, valued at $5,499,554.79. The disclosure for this sale can be found here. In the last quarter, insiders sold 71,798 shares of company stock worth $10,676,096. 4.30% of the stock is owned by corporate insiders.

Neurocrine Biosciences Trading Down 1.8 %

Shares of NASDAQ NBIX opened at $118.35 on Friday. The stock has a 50 day moving average of $138.49 and a two-hundred day moving average of $138.17. The stock has a market cap of $11.91 billion, a P/E ratio of 32.60 and a beta of 0.37. Neurocrine Biosciences, Inc. has a twelve month low of $103.63 and a twelve month high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.52). Neurocrine Biosciences had a return on equity of 14.86% and a net margin of 16.00%. The firm had revenue of $590.20 million for the quarter, compared to analyst estimates of $545.98 million. During the same quarter last year, the firm earned $0.95 earnings per share. The company’s revenue was up 30.4% compared to the same quarter last year. As a group, research analysts predict that Neurocrine Biosciences, Inc. will post 4.19 earnings per share for the current year.

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.