Janney Montgomery Scott LLC Sells 4,677 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Janney Montgomery Scott LLC cut its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 26.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,868 shares of the company's stock after selling 4,677 shares during the quarter. Janney Montgomery Scott LLC's holdings in Neurocrine Biosciences were worth $1,423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of NBIX. Dodge & Cox grew its stake in shares of Neurocrine Biosciences by 134.2% in the fourth quarter. Dodge & Cox now owns 3,016,425 shares of the company's stock worth $411,742,000 after purchasing an additional 1,728,605 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Neurocrine Biosciences in the fourth quarter worth about $115,193,000. Wellington Management Group LLP grew its stake in shares of Neurocrine Biosciences by 102.9% in the fourth quarter. Wellington Management Group LLP now owns 1,457,425 shares of the company's stock worth $198,939,000 after purchasing an additional 739,199 shares during the last quarter. Thrivent Financial for Lutherans grew its stake in shares of Neurocrine Biosciences by 2,759.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 737,772 shares of the company's stock worth $100,705,000 after purchasing an additional 711,970 shares during the last quarter. Finally, Orbimed Advisors LLC grew its stake in shares of Neurocrine Biosciences by 210.4% in the fourth quarter. Orbimed Advisors LLC now owns 938,120 shares of the company's stock worth $128,053,000 after purchasing an additional 635,900 shares during the last quarter. 92.59% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 9,613 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $120.38, for a total transaction of $1,157,212.94. Following the completion of the transaction, the director now owns 514,596 shares in the company, valued at $61,947,066.48. The trade was a 1.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director William H. Rastetter sold 30,000 shares of the business's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $110.20, for a total value of $3,306,000.00. Following the transaction, the director now owns 37,491 shares of the company's stock, valued at $4,131,508.20. This trade represents a 44.45% decrease in their position. The disclosure for this sale can be found here. 4.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

NBIX has been the topic of several recent analyst reports. Morgan Stanley reissued an "overweight" rating and issued a $150.00 target price (down from $185.00) on shares of Neurocrine Biosciences in a research note on Friday, March 7th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $145.00 price objective on shares of Neurocrine Biosciences in a research report on Monday, June 2nd. HC Wainwright cut their price objective on Neurocrine Biosciences from $185.00 to $168.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. BMO Capital Markets lifted their price objective on Neurocrine Biosciences from $96.00 to $115.00 and gave the company a "market perform" rating in a research report on Tuesday, May 6th. Finally, Needham & Company LLC lifted their price objective on Neurocrine Biosciences from $138.00 to $139.00 and gave the company a "buy" rating in a research report on Tuesday, May 6th. Three investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $162.00.

Neurocrine Biosciences Stock Down 1.0%

NBIX traded down $1.29 during mid-day trading on Friday, reaching $125.42. 1,258,978 shares of the company traded hands, compared to its average volume of 1,140,457. The stock has a market capitalization of $12.41 billion, a P/E ratio of 42.52, a P/E/G ratio of 1.29 and a beta of 0.24. The company's fifty day moving average price is $119.35 and its 200-day moving average price is $121.81. Neurocrine Biosciences, Inc. has a 52-week low of $84.23 and a 52-week high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.62). Neurocrine Biosciences had a net margin of 12.68% and a return on equity of 11.81%. The company had revenue of $572.60 million for the quarter, compared to the consensus estimate of $587.06 million. During the same period last year, the company earned $1.20 EPS. The firm's revenue for the quarter was up 11.1% on a year-over-year basis. As a group, sell-side analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

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.