Envestnet Portfolio Solutions Inc. Acquires 645 Shares of Neurocrine Biosciences, Inc. $NBIX

Envestnet Portfolio Solutions Inc. increased its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 24.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,273 shares of the company’s stock after purchasing an additional 645 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Neurocrine Biosciences were worth $411,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Sequoia Financial Advisors LLC bought a new stake in Neurocrine Biosciences in the second quarter worth $342,000. Allspring Global Investments Holdings LLC increased its position in Neurocrine Biosciences by 15.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 447,900 shares of the company’s stock worth $57,331,000 after purchasing an additional 60,094 shares during the last quarter. CWM LLC increased its position in Neurocrine Biosciences by 150.3% in the second quarter. CWM LLC now owns 26,289 shares of the company’s stock worth $3,304,000 after purchasing an additional 15,786 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its position in Neurocrine Biosciences by 30.5% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 11,035 shares of the company’s stock worth $1,387,000 after purchasing an additional 2,577 shares during the last quarter. Finally, IFP Advisors Inc increased its position in Neurocrine Biosciences by 4.2% in the second quarter. IFP Advisors Inc now owns 2,172 shares of the company’s stock worth $273,000 after purchasing an additional 88 shares during the last quarter. Institutional investors own 92.59% of the company’s stock.

Insider Activity

In other news, Director Kevin Charles Gorman sold 106,322 shares of the business’s stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $126.41, for a total transaction of $13,440,164.02. Following the completion of the sale, the director directly owned 514,596 shares of the company’s stock, valued at approximately $65,050,080.36. The trade was a 17.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 4.80% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on NBIX shares. JPMorgan Chase & Co. boosted their price objective on shares of Neurocrine Biosciences from $140.00 to $145.00 and gave the company a “neutral” rating in a research report on Thursday, July 31st. Guggenheim boosted their price objective on shares of Neurocrine Biosciences from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Zacks Research upgraded shares of Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 15th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Neurocrine Biosciences in a research report on Wednesday, October 8th. Finally, The Goldman Sachs Group started coverage on shares of Neurocrine Biosciences in a research report on Thursday, July 10th. They set a “buy” rating and a $182.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.32.

Neurocrine Biosciences Trading Down 0.8%

Shares of NBIX opened at $141.47 on Thursday. The firm has a market capitalization of $14.03 billion, a P/E ratio of 41.86, a P/E/G ratio of 1.02 and a beta of 0.21. Neurocrine Biosciences, Inc. has a 12-month low of $84.23 and a 12-month high of $154.61. The firm has a fifty day moving average price of $139.47 and a 200-day moving average price of $126.78.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.08. The firm had revenue of $687.50 million during the quarter, compared to analyst estimates of $653.09 million. Neurocrine Biosciences had a net margin of 13.88% and a return on equity of 13.22%. The business’s revenue was up 16.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.63 earnings per share. Analysts predict that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current 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.