Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lessened its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 91.2% in the second quarter, according to its most recent filing with the SEC. The fund owned 4,259 shares of the company’s stock after selling 44,204 shares during the period. Janney Montgomery Scott LLC’s holdings in Neurocrine Biosciences were worth $402,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of NBIX. Acadian Asset Management LLC acquired a new stake in shares of Neurocrine Biosciences during the 1st quarter valued at $27,000. KB Financial Partners LLC acquired a new stake in shares of Neurocrine Biosciences during the 1st quarter valued at $32,000. Covestor Ltd lifted its holdings in shares of Neurocrine Biosciences by 431.0% in the first quarter. Covestor Ltd now owns 377 shares of the company’s stock valued at $35,000 after purchasing an additional 306 shares in the last quarter. Spire Wealth Management lifted its holdings in shares of Neurocrine Biosciences by 203.2% in the first quarter. Spire Wealth Management now owns 379 shares of the company’s stock valued at $38,000 after purchasing an additional 254 shares in the last quarter. Finally, Bessemer Group Inc. lifted its holdings in shares of Neurocrine Biosciences by 755.0% in the fourth quarter. Bessemer Group Inc. now owns 342 shares of the company’s stock valued at $42,000 after purchasing an additional 302 shares in the last quarter. Institutional investors and hedge funds own 93.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on NBIX. HC Wainwright increased their target price on Neurocrine Biosciences from $146.00 to $150.00 and gave the company a “buy” rating in a report on Friday, October 6th. Oppenheimer increased their target price on Neurocrine Biosciences from $160.00 to $165.00 and gave the company an “outperform” rating in a report on Friday, October 6th. Robert W. Baird increased their target price on Neurocrine Biosciences from $152.00 to $157.00 in a report on Friday, October 6th. SVB Leerink increased their target price on Neurocrine Biosciences from $125.00 to $135.00 in a report on Friday, October 6th. Finally, Jefferies Financial Group upped their price target on shares of Neurocrine Biosciences to $123.00 in a research note on Monday, August 21st. Five analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $130.79.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ:NBIX opened at $110.94 on Wednesday. The stock’s 50-day moving average is $111.31 and its 200-day moving average is $102.87. Neurocrine Biosciences, Inc. has a 52-week low of $89.04 and a 52-week high of $129.29. The company has a market cap of $10.83 billion, a P/E ratio of 64.13, a P/E/G ratio of 1.01 and a beta of 0.44.

Neurocrine Biosciences (NASDAQ:NBIX) last released its earnings results on Tuesday, August 1st. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.18. Neurocrine Biosciences had a net margin of 10.54% and a return on equity of 10.39%. The business had revenue of $452.70 million during the quarter, compared to analysts’ expectations of $448.29 million. As a group, equities analysts predict that Neurocrine Biosciences, Inc. will post 2.11 EPS for the current year.

Insider Activity at Neurocrine Biosciences

In related news, insider David W. Boyer sold 1,437 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $112.68, for a total value of $161,921.16. Following the completion of the sale, the insider now owns 4,894 shares in the company, valued at $551,455.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Neurocrine Biosciences news, insider David W. Boyer sold 1,437 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $112.68, for a total transaction of $161,921.16. Following the completion of the transaction, the insider now owns 4,894 shares in the company, valued at $551,455.92. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Julie Cooke sold 824 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $110.93, for a total transaction of $91,406.32. Following the transaction, the insider now owns 17,263 shares of the company’s stock, valued at approximately $1,914,984.59. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,083 shares of company stock worth $3,400,811. Company insiders own 4.40% of the company’s stock.

About Neurocrine Biosciences

Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, endocrine, and psychiatric disorders. The company's portfolio includes treatments for tardive dyskinesia, Parkinson's disease, endometriosis, and uterine fibroids, as well as clinical programs in various therapeutic areas.