Fisher Asset Management LLC Trims Stock Position in Neurocrine Biosciences, Inc. $NBIX

Fisher Asset Management LLC lessened its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 8.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,540 shares of the company’s stock after selling 7,717 shares during the period. Fisher Asset Management LLC owned 0.09% of Neurocrine Biosciences worth $11,003,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. IFP Advisors Inc boosted its position in shares of Neurocrine Biosciences by 4.2% in the 2nd quarter. IFP Advisors Inc now owns 2,172 shares of the company’s stock valued at $273,000 after purchasing an additional 88 shares during the period. Linden Thomas Advisory Services LLC lifted its stake in Neurocrine Biosciences by 1.5% in the second quarter. Linden Thomas Advisory Services LLC now owns 6,699 shares of the company’s stock valued at $842,000 after buying an additional 96 shares during the last quarter. Central Pacific Bank Trust Division boosted its holdings in shares of Neurocrine Biosciences by 6.2% in the second quarter. Central Pacific Bank Trust Division now owns 1,725 shares of the company’s stock valued at $217,000 after acquiring an additional 100 shares during the period. AdvisorShares Investments LLC grew its position in shares of Neurocrine Biosciences by 2.8% during the second quarter. AdvisorShares Investments LLC now owns 3,666 shares of the company’s stock worth $461,000 after acquiring an additional 100 shares during the last quarter. Finally, Nissay Asset Management Corp Japan ADV increased its holdings in shares of Neurocrine Biosciences by 0.9% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 12,293 shares of the company’s stock valued at $1,360,000 after acquiring an additional 107 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NBIX. Morgan Stanley decreased their price target on shares of Neurocrine Biosciences from $178.00 to $173.00 and set an “overweight” rating for the company in a research note on Tuesday, November 11th. Citigroup upped their target price on shares of Neurocrine Biosciences from $175.00 to $203.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Needham & Company LLC increased their target price on shares of Neurocrine Biosciences from $170.00 to $184.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Zacks Research raised Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 15th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Neurocrine Biosciences in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $170.53.

Insider Transactions at Neurocrine Biosciences

In other news, CEO Kyle Gano sold 300 shares of the stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $141.97, for a total transaction of $42,591.00. Following the completion of the transaction, the chief executive officer directly owned 140,407 shares of the company’s stock, valued at approximately $19,933,581.79. This represents a 0.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director William H. Rastetter sold 18,000 shares of Neurocrine Biosciences stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $151.82, for a total value of $2,732,760.00. Following the completion of the sale, the director owned 40,360 shares in the company, valued at approximately $6,127,455.20. This trade represents a 30.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 33,300 shares of company stock valued at $4,925,901. Corporate insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Stock Down 0.3%

Shares of NASDAQ:NBIX opened at $151.96 on Thursday. The company has a market cap of $15.15 billion, a price-to-earnings ratio of 36.35, a PEG ratio of 0.95 and a beta of 0.27. The firm’s 50-day simple moving average is $143.18 and its 200-day simple moving average is $135.60. Neurocrine Biosciences, Inc. has a fifty-two week low of $84.23 and a fifty-two week high of $157.67.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.59. The firm had revenue of $794.90 million during the quarter, compared to analysts’ expectations of $746.61 million. Neurocrine Biosciences had a net margin of 15.95% and a return on equity of 15.82%. The firm’s revenue for the quarter was up 27.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.81 earnings per share. On average, research analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current 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.