AlphaCentric Advisors LLC Sells 18,816 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

AlphaCentric Advisors LLC lowered its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 83.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,684 shares of the company's stock after selling 18,816 shares during the period. AlphaCentric Advisors LLC's holdings in Neurocrine Biosciences were worth $503,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in NBIX. Caprock Group LLC bought a new position in shares of Neurocrine Biosciences during the 4th quarter worth $236,000. Plato Investment Management Ltd increased its holdings in shares of Neurocrine Biosciences by 2,481.9% in the third quarter. Plato Investment Management Ltd now owns 10,973 shares of the company's stock worth $1,263,000 after buying an additional 10,548 shares during the period. Swiss National Bank lifted its holdings in Neurocrine Biosciences by 1.4% in the 3rd quarter. Swiss National Bank now owns 298,700 shares of the company's stock worth $34,416,000 after buying an additional 4,100 shares during the period. Tri Ri Asset Management Corp bought a new position in shares of Neurocrine Biosciences in the 3rd quarter worth approximately $3,236,000. Finally, KBC Group NV grew its stake in shares of Neurocrine Biosciences by 78.3% in the 3rd quarter. KBC Group NV now owns 18,972 shares of the company's stock worth $2,186,000 after buying an additional 8,332 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company's stock.

Insiders Place Their Bets

In other Neurocrine Biosciences news, CFO Matt Abernethy sold 1,283 shares of the business's stock in a transaction on Friday, January 31st. The shares were sold at an average price of $152.87, for a total transaction of $196,132.21. Following the completion of the sale, the chief financial officer now owns 32,681 shares in the company, valued at approximately $4,995,944.47. The trade was a 3.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kevin Charles Gorman sold 5,844 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $116.69, for a total transaction of $681,936.36. Following the completion of the sale, the director now owns 521,618 shares of the company's stock, valued at approximately $60,867,604.42. This trade represents a 1.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 236,600 shares of company stock worth $34,348,261 in the last quarter. Corporate insiders own 4.30% of the company's stock.

Wall Street Analyst Weigh In

NBIX has been the subject of a number of recent research reports. William Blair restated an "outperform" rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. Needham & Company LLC reissued a "hold" rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. StockNews.com cut Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a report on Tuesday. HC Wainwright cut their price target on shares of Neurocrine Biosciences from $190.00 to $185.00 and set a "buy" rating on the stock in a report on Friday, February 7th. Finally, Bank of America reduced their price target on shares of Neurocrine Biosciences from $184.00 to $179.00 and set a "buy" rating for the company in a research report on Friday, February 7th. Five research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $166.90.

Neurocrine Biosciences Stock Performance

Neurocrine Biosciences stock traded up $1.85 during trading hours on Thursday, reaching $116.11. 1,182,876 shares of the company's stock traded hands, compared to its average volume of 1,321,372. Neurocrine Biosciences, Inc. has a fifty-two week low of $110.95 and a fifty-two week high of $157.98. The firm has a market capitalization of $11.58 billion, a price-to-earnings ratio of 35.29, a PEG ratio of 0.77 and a beta of 0.33. The firm's 50 day moving average is $136.75 and its 200-day moving average is $129.71.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The company reported $1.00 EPS for the quarter, missing the consensus estimate of $1.62 by ($0.62). Neurocrine Biosciences had a return on equity of 13.38% and a net margin of 14.49%. Analysts predict that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Neurocrine Biosciences 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.