Beacon Harbor Wealth Advisors Inc. Buys Shares of 47,917 Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Beacon Harbor Wealth Advisors Inc. purchased a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 47,917 shares of the company's stock, valued at approximately $5,521,000.

A number of other hedge funds have also added to or reduced their stakes in NBIX. Kornitzer Capital Management Inc. KS acquired a new stake in Neurocrine Biosciences in the third quarter valued at approximately $3,588,000. AlphaCentric Advisors LLC boosted its holdings in shares of Neurocrine Biosciences by 221.4% during the 3rd quarter. AlphaCentric Advisors LLC now owns 22,500 shares of the company's stock valued at $2,592,000 after acquiring an additional 15,500 shares in the last quarter. Impax Asset Management Group plc grew its position in Neurocrine Biosciences by 70.0% during the 3rd quarter. Impax Asset Management Group plc now owns 85,000 shares of the company's stock worth $9,794,000 after acquiring an additional 35,000 shares during the last quarter. QRG Capital Management Inc. increased its holdings in Neurocrine Biosciences by 3.2% in the 3rd quarter. QRG Capital Management Inc. now owns 18,279 shares of the company's stock worth $2,106,000 after purchasing an additional 569 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its position in Neurocrine Biosciences by 2.5% in the third quarter. Asset Management One Co. Ltd. now owns 69,230 shares of the company's stock valued at $7,977,000 after purchasing an additional 1,705 shares during the last quarter. 92.59% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. HC Wainwright restated a "buy" rating and set a $190.00 price target on shares of Neurocrine Biosciences in a report on Friday, November 1st. Needham & Company LLC restated a "hold" rating on shares of Neurocrine Biosciences in a research report on Tuesday, October 29th. Morgan Stanley raised their price target on shares of Neurocrine Biosciences from $160.00 to $170.00 and gave the company an "overweight" rating in a research note on Friday, July 12th. Raymond James reissued an "outperform" rating and issued a $155.00 price objective on shares of Neurocrine Biosciences in a research note on Thursday, October 10th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $155.00 target price on shares of Neurocrine Biosciences in a research 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. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $163.91.

Neurocrine Biosciences Stock Up 1.4 %

NBIX stock traded up $1.76 during midday trading on Friday, reaching $125.74. 561,456 shares of the company's stock traded hands, compared to its average volume of 961,480. 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 $12.73 billion, a price-to-earnings ratio of 33.71 and a beta of 0.35. The firm's fifty day moving average price is $118.43 and its 200-day moving average price is $133.16.

Insider Buying and Selling

In other 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director William H. Rastetter sold 14,250 shares of the business's stock in a transaction dated 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 transaction, the director now directly owns 37,491 shares in the company, valued at approximately $5,499,554.79. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Matt Abernethy sold 14,100 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $150.38, for a total transaction of $2,120,358.00. Following the completion of the sale, the chief financial officer now owns 31,528 shares of the company's stock, valued at approximately $4,741,180.64. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,063 shares of company stock worth $7,023,330 in the last quarter. Insiders own 4.30% of the company's stock.

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.