Red Spruce Capital LLC Decreases Stock Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Red Spruce Capital LLC cut its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 1.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,906 shares of the company’s stock after selling 244 shares during the period. Red Spruce Capital LLC’s holdings in Neurocrine Biosciences were worth $1,833,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in NBIX. RFP Financial Group LLC increased its holdings in shares of Neurocrine Biosciences by 346.5% during the 1st quarter. RFP Financial Group LLC now owns 192 shares of the company’s stock worth $26,000 after buying an additional 149 shares during the last quarter. Mather Group LLC. purchased a new stake in shares of Neurocrine Biosciences in the 1st quarter valued at approximately $26,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Neurocrine Biosciences in the 2nd quarter worth approximately $28,000. Innealta Capital LLC purchased a new position in shares of Neurocrine Biosciences during the 2nd quarter worth approximately $30,000. Finally, New Covenant Trust Company N.A. acquired a new stake in Neurocrine Biosciences in the 1st quarter valued at approximately $32,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

Wall Street Analyst Weigh In

NBIX has been the subject of several recent research reports. BMO Capital Markets lowered their price objective on shares of Neurocrine Biosciences from $142.00 to $128.00 and set a “market perform” rating for the company in a research note on Thursday, August 29th. Robert W. Baird boosted their price objective on Neurocrine Biosciences from $157.00 to $180.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Barclays decreased their target price 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. Citigroup increased their price target on Neurocrine Biosciences from $150.00 to $158.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Finally, StockNews.com upgraded Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 4th. Five 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 stock. Based on data from MarketBeat, Neurocrine Biosciences currently has an average rating of “Moderate Buy” and an average target price of $162.08.

Neurocrine Biosciences Stock Performance

NASDAQ:NBIX traded up $2.12 during mid-day trading on Friday, hitting $114.00. 784,263 shares of the stock were exchanged, compared to its average volume of 860,627. The firm’s 50-day simple moving average is $132.29 and its 200 day simple moving average is $136.56. Neurocrine Biosciences, Inc. has a fifty-two week low of $103.63 and a fifty-two week high of $157.98. The stock has a market capitalization of $11.47 billion, a price-to-earnings ratio of 31.40 and a beta of 0.36.

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

Insider Buying and Selling

In other Neurocrine Biosciences news, Director William H. Rastetter sold 14,250 shares of the firm’s stock in a transaction that occurred 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 owns 37,491 shares of the company’s stock, valued at approximately $5,499,554.79. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Neurocrine Biosciences news, insider Ingrid Delaet sold 273 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $147.70, for a total value of $40,322.10. Following the completion of the transaction, the insider now owns 6,607 shares in the company, valued at $975,853.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 owns 37,491 shares in the company, valued at $5,499,554.79. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 61,798 shares of company stock valued at $9,274,196 over the last 90 days. Company insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Company 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.