Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Position Reduced by Rice Hall James & Associates LLC

Rice Hall James & Associates LLC decreased its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 5.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,632 shares of the company’s stock after selling 6,785 shares during the period. Rice Hall James & Associates LLC’s holdings in Neurocrine Biosciences were worth $15,101,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NBIX. State Street Corp raised its holdings in Neurocrine Biosciences by 11.7% during the third quarter. State Street Corp now owns 5,148,293 shares of the company’s stock worth $593,186,000 after purchasing an additional 539,936 shares in the last quarter. Jennison Associates LLC raised its holdings in Neurocrine Biosciences by 145.1% during the fourth quarter. Jennison Associates LLC now owns 820,694 shares of the company’s stock worth $112,025,000 after purchasing an additional 485,894 shares in the last quarter. Los Angeles Capital Management LLC raised its holdings in Neurocrine Biosciences by 639.6% during the third quarter. Los Angeles Capital Management LLC now owns 420,748 shares of the company’s stock worth $48,479,000 after purchasing an additional 363,863 shares in the last quarter. Braidwell LP raised its holdings in Neurocrine Biosciences by 20.9% during the third quarter. Braidwell LP now owns 917,674 shares of the company’s stock worth $105,734,000 after purchasing an additional 158,665 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in Neurocrine Biosciences by 23.9% during the third quarter. BNP Paribas Financial Markets now owns 533,324 shares of the company’s stock worth $61,450,000 after purchasing an additional 102,715 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on NBIX shares. Barclays upped their price target on Neurocrine Biosciences from $160.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, December 23rd. William Blair reaffirmed an “outperform” rating on shares of Neurocrine Biosciences in a report on Friday, February 7th. Guggenheim dropped their price target on Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Deutsche Bank Aktiengesellschaft started coverage on Neurocrine Biosciences in a report on Tuesday, February 11th. They issued a “hold” rating and a $138.00 price target on the stock. Finally, Morgan Stanley upped their price target on Neurocrine Biosciences from $170.00 to $185.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Five analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $166.90.

Insider Activity

In related news, CFO Matt Abernethy sold 2,558 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $116.86, for a total value of $298,927.88. Following the completion of the sale, the chief financial officer now directly owns 34,775 shares in the company, valued at approximately $4,063,806.50. This represents a 6.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jude Onyia sold 2,331 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $126.29, for a total transaction of $294,381.99. Following the completion of the sale, the insider now owns 15,449 shares of the company’s stock, valued at $1,951,054.21. This represents a 13.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 236,600 shares of company stock worth $34,348,261 in the last ninety days. Corporate insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Stock Down 1.6 %

Neurocrine Biosciences stock opened at $115.02 on Tuesday. The company’s fifty day simple moving average is $137.55 and its 200-day simple moving average is $130.19. Neurocrine Biosciences, Inc. has a 12 month low of $110.95 and a 12 month high of $157.98. The stock has a market cap of $11.65 billion, a P/E ratio of 34.96 and a beta of 0.33.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Thursday, February 6th. The company reported $1.00 EPS for the quarter, missing the consensus estimate of $1.62 by ($0.62). Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.45%. On average, equities research analysts expect that Neurocrine Biosciences, Inc. will post 6.53 earnings per share for the current fiscal 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.