Beacon Harbor Wealth Advisors Inc. Makes New $5.52 Million Investment in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Beacon Harbor Wealth Advisors Inc. bought a new stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the 3rd quarter, HoldingsChannel.com reports. The firm bought 47,917 shares of the company’s stock, valued at approximately $5,521,000.

Other hedge funds have also made changes to their positions in the company. Twin Tree Management LP boosted its stake in Neurocrine Biosciences by 59.4% during the 1st quarter. Twin Tree Management LP now owns 19,147 shares of the company’s stock valued at $2,641,000 after acquiring an additional 7,136 shares during the last quarter. Redwood Investment Management LLC bought a new position in shares of Neurocrine Biosciences during the first quarter worth about $642,000. Forsta AP Fonden grew its stake in Neurocrine Biosciences by 94.3% in the first quarter. Forsta AP Fonden now owns 34,200 shares of the company’s stock worth $4,717,000 after purchasing an additional 16,600 shares in the last quarter. Inspire Investing LLC increased its holdings in Neurocrine Biosciences by 96.7% in the first quarter. Inspire Investing LLC now owns 12,296 shares of the company’s stock valued at $1,696,000 after buying an additional 6,045 shares during the last quarter. Finally, Shell Asset Management Co. raised its stake in Neurocrine Biosciences by 132.8% during the first quarter. Shell Asset Management Co. now owns 6,828 shares of the company’s stock valued at $942,000 after buying an additional 3,895 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on NBIX. Jefferies Financial Group boosted their price target on Neurocrine Biosciences from $177.00 to $189.00 and gave the company a “buy” rating in a report on Monday, August 19th. Piper Sandler upgraded shares of Neurocrine Biosciences from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $131.00 to $159.00 in a research note on Thursday, August 29th. Guggenheim raised their price target on shares of Neurocrine Biosciences from $170.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. HC Wainwright reaffirmed a “buy” rating and set a $190.00 price objective on shares of Neurocrine Biosciences in a research report on Friday, November 1st. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $155.00 target price on shares of Neurocrine Biosciences in a report on Monday, September 16th. Five equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Neurocrine Biosciences currently has a consensus rating of “Moderate Buy” and an average target price of $163.91.

Neurocrine Biosciences Price Performance

NBIX opened at $123.98 on Friday. The business has a 50 day moving average price of $118.45 and a two-hundred day moving average price of $133.21. The company has a market capitalization of $12.55 billion, a price-to-earnings ratio of 33.24 and a beta of 0.35. Neurocrine Biosciences, Inc. has a 1-year low of $103.63 and a 1-year high of $157.98.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director William H. Rastetter sold 14,250 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director William H. Rastetter sold 14,250 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $146.69, for a total transaction 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 $5,499,554.79. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ingrid Delaet sold 7,143 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $150.10, for a total value of $1,072,164.30. Following the sale, the insider now directly owns 2,507 shares in the company, valued at $376,300.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,063 shares of company stock valued at $7,023,330. Corporate insiders own 4.30% of the company’s stock.

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.