Edgestream Partners L.P. Decreases Stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Edgestream Partners L.P. decreased its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 88.1% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 5,266 shares of the company's stock after selling 38,928 shares during the period. Edgestream Partners L.P.'s holdings in Neurocrine Biosciences were worth $607,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in NBIX. Park Avenue Securities LLC increased its position in shares of Neurocrine Biosciences by 3.8% in the second quarter. Park Avenue Securities LLC now owns 9,933 shares of the company's stock worth $1,367,000 after purchasing an additional 363 shares during the last quarter. CWM LLC grew its position in Neurocrine Biosciences by 46.8% in the second quarter. CWM LLC now owns 6,849 shares of the company's stock worth $943,000 after acquiring an additional 2,185 shares in the last quarter. QRG Capital Management Inc. increased its stake in Neurocrine Biosciences by 11.5% in the second quarter. QRG Capital Management Inc. now owns 17,710 shares of the company's stock valued at $2,438,000 after acquiring an additional 1,832 shares during the last quarter. Sendero Wealth Management LLC raised its position in Neurocrine Biosciences by 0.9% during the second quarter. Sendero Wealth Management LLC now owns 19,735 shares of the company's stock valued at $2,717,000 after purchasing an additional 172 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in Neurocrine Biosciences during the second quarter worth about $5,848,000. Hedge funds and other institutional investors own 92.59% of the company's stock.

Neurocrine Biosciences Price Performance

Shares of NASDAQ:NBIX traded up $2.16 during midday trading on Friday, hitting $128.58. The company had a trading volume of 267,909 shares, compared to its average volume of 868,789. The company has a market cap of $13.02 billion, a price-to-earnings ratio of 33.89 and a beta of 0.34. The company has a fifty day moving average of $120.07 and a two-hundred day moving average of $131.19. Neurocrine Biosciences, Inc. has a 12-month low of $110.95 and a 12-month high of $157.98.

Insider Activity at Neurocrine Biosciences

In related news, insider Jude Onyia sold 2,331 shares of Neurocrine Biosciences stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $126.29, for a total transaction of $294,381.99. Following the sale, the insider now owns 15,449 shares of the company's stock, valued at approximately $1,951,054.21. This trade represents a 13.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

NBIX has been the subject of several research reports. StockNews.com lowered Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a research note on Friday, November 1st. HC Wainwright reiterated a "buy" rating and issued a $190.00 target price on shares of Neurocrine Biosciences in a research report on Friday, November 1st. Piper Sandler upgraded shares of Neurocrine Biosciences from a "neutral" rating to an "overweight" rating and upped their price target for the company from $131.00 to $159.00 in a research report on Thursday, August 29th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $155.00 price objective on shares of Neurocrine Biosciences in a report on Monday, September 16th. Finally, BMO Capital Markets dropped their target price on Neurocrine Biosciences from $128.00 to $114.00 and set a "market perform" rating for the company in a report on Thursday, October 17th. Five investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $163.91.

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.