HighTower Advisors LLC Sells 916 Shares of Neurocrine Biosciences, Inc. $NBIX

HighTower Advisors LLC cut its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 8.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,684 shares of the company’s stock after selling 916 shares during the period. HighTower Advisors LLC’s holdings in Neurocrine Biosciences were worth $1,071,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Neurocrine Biosciences during the first quarter worth $34,000. Golden State Wealth Management LLC grew its stake in shares of Neurocrine Biosciences by 116.9% during the first quarter. Golden State Wealth Management LLC now owns 397 shares of the company’s stock worth $44,000 after purchasing an additional 214 shares during the period. Versant Capital Management Inc grew its stake in shares of Neurocrine Biosciences by 404.9% during the first quarter. Versant Capital Management Inc now owns 409 shares of the company’s stock worth $45,000 after purchasing an additional 328 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in shares of Neurocrine Biosciences during the first quarter worth $48,000. Finally, Farther Finance Advisors LLC grew its stake in shares of Neurocrine Biosciences by 39.1% during the first quarter. Farther Finance Advisors LLC now owns 686 shares of the company’s stock worth $73,000 after purchasing an additional 193 shares during the period. 92.59% of the stock is owned by institutional investors and hedge funds.

Neurocrine Biosciences Stock Up 2.1%

Shares of NBIX stock opened at $136.84 on Wednesday. The firm has a fifty day moving average of $130.55 and a 200-day moving average of $118.98. Neurocrine Biosciences, Inc. has a 12-month low of $84.23 and a 12-month high of $154.61. The company has a market capitalization of $13.57 billion, a price-to-earnings ratio of 40.49, a P/E/G ratio of 0.97 and a beta of 0.25.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.08. The company had revenue of $687.50 million during the quarter, compared to analysts’ expectations of $653.09 million. Neurocrine Biosciences had a return on equity of 13.22% and a net margin of 13.88%.Neurocrine Biosciences’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.63 earnings per share. On average, equities analysts expect that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Analyst Upgrades and Downgrades

NBIX has been the subject of a number of analyst reports. Stifel Nicolaus lifted their price objective on Neurocrine Biosciences from $166.00 to $174.00 and gave the stock a “buy” rating in a research note on Thursday, July 31st. Morgan Stanley lifted their price objective on Neurocrine Biosciences from $150.00 to $158.00 and gave the stock an “overweight” rating in a research note on Thursday, July 31st. Needham & Company LLC boosted their target price on Neurocrine Biosciences from $138.00 to $139.00 and gave the company a “buy” rating in a research note on Tuesday, May 6th. BMO Capital Markets boosted their target price on Neurocrine Biosciences from $96.00 to $115.00 and gave the company a “market perform” rating in a research note on Tuesday, May 6th. Finally, Wedbush boosted their target price on Neurocrine Biosciences from $137.00 to $141.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. Eighteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $159.50.

Insider Transactions at Neurocrine Biosciences

In other news, insider Ingrid Delaet sold 457 shares of the company’s stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $135.00, for a total transaction of $61,695.00. Following the completion of the transaction, the insider directly owned 4,730 shares of the company’s stock, valued at $638,550. This represents a 8.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jude Onyia sold 59,819 shares of the company’s stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $130.46, for a total value of $7,803,986.74. Following the transaction, the insider directly owned 18,289 shares of the company’s stock, valued at $2,385,982.94. This represents a 76.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 186,960 shares of company stock valued at $23,955,553 over the last three months. Company insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Company 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.