Envestnet Asset Management Inc. Lowers Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Envestnet Asset Management Inc. trimmed its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 39.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 122,306 shares of the company's stock after selling 80,904 shares during the period. Envestnet Asset Management Inc. owned 0.12% of Neurocrine Biosciences worth $13,527,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. IFM Investors Pty Ltd boosted its position in shares of Neurocrine Biosciences by 2.5% in the first quarter. IFM Investors Pty Ltd now owns 19,459 shares of the company's stock worth $2,242,000 after buying an additional 469 shares during the period. GF Fund Management CO. LTD. increased its stake in Neurocrine Biosciences by 22.0% during the 1st quarter. GF Fund Management CO. LTD. now owns 2,593 shares of the company's stock worth $287,000 after buying an additional 467 shares during the period. Vontobel Holding Ltd. increased its stake in Neurocrine Biosciences by 17.8% during the 1st quarter. Vontobel Holding Ltd. now owns 9,943 shares of the company's stock worth $1,100,000 after buying an additional 1,501 shares during the period. Smallwood Wealth Investment Management LLC purchased a new stake in Neurocrine Biosciences during the 1st quarter worth $34,000. Finally, Peregrine Capital Management LLC increased its stake in Neurocrine Biosciences by 12.5% during the 1st quarter. Peregrine Capital Management LLC now owns 72,972 shares of the company's stock worth $8,071,000 after buying an additional 8,132 shares during the period. Hedge funds and other institutional investors own 92.59% of the company's stock.

Neurocrine Biosciences Stock Performance

NBIX traded down $2.09 during midday trading on Friday, hitting $132.02. The company had a trading volume of 757,716 shares, compared to its average volume of 1,149,427. The company has a market capitalization of $13.07 billion, a PE ratio of 44.75, a P/E/G ratio of 1.35 and a beta of 0.24. Neurocrine Biosciences, Inc. has a twelve month low of $84.23 and a twelve month high of $157.98. The firm's 50-day simple moving average is $125.84 and its 200-day simple moving average is $121.47.

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

Insider Activity

In related news, Director Kevin Charles Gorman sold 9,613 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $120.38, for a total transaction of $1,157,212.94. Following the transaction, the director directly owned 514,596 shares of the company's stock, valued at approximately $61,947,066.48. This trade represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jude Onyia sold 59,819 shares of the business's stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $130.46, for a total transaction of $7,803,986.74. Following the completion of the transaction, the insider owned 18,289 shares in the company, valued at approximately $2,385,982.94. The trade was a 76.58% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 120,251 shares of company stock valued at $14,978,602 over the last quarter. 4.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Wedbush reaffirmed an "outperform" rating on shares of Neurocrine Biosciences in a research note on Tuesday, May 6th. Evercore ISI dropped their target price on shares of Neurocrine Biosciences from $190.00 to $185.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. BMO Capital Markets boosted their price objective on shares of Neurocrine Biosciences from $96.00 to $115.00 and gave the company a "market perform" rating in a research report on Tuesday, May 6th. The Goldman Sachs Group started coverage on shares of Neurocrine Biosciences in a research report on Thursday, July 10th. They set a "buy" rating and a $182.00 price objective for the company. Finally, Canaccord Genuity Group lifted their target price on Neurocrine Biosciences from $158.00 to $160.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $163.91.

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.