HighTower Advisors LLC Lowers Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

HighTower Advisors LLC cut its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 67.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 9,587 shares of the company's stock after selling 19,785 shares during the period. HighTower Advisors LLC's holdings in Neurocrine Biosciences were worth $1,104,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NBIX. Erste Asset Management GmbH bought a new position in Neurocrine Biosciences during the third quarter valued at approximately $2,738,000. True Wealth Design LLC increased its position in shares of Neurocrine Biosciences by 11,740.0% during the 3rd quarter. True Wealth Design LLC now owns 592 shares of the company's stock valued at $68,000 after purchasing an additional 587 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in Neurocrine Biosciences by 12.3% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 736,910 shares of the company's stock valued at $84,907,000 after buying an additional 80,792 shares during the last quarter. PDT Partners LLC purchased a new position in shares of Neurocrine Biosciences during the 3rd quarter worth $1,717,000. Finally, Braidwell LP grew its position in shares of Neurocrine Biosciences by 20.9% during the 3rd quarter. Braidwell LP now owns 917,674 shares of the company's stock valued at $105,734,000 after acquiring an additional 158,665 shares during the period. Institutional investors own 92.59% of the company's stock.

Neurocrine Biosciences Trading Down 0.9 %

NASDAQ:NBIX traded down $1.24 during midday trading on Wednesday, hitting $135.45. 2,132,949 shares of the company traded hands, compared to its average volume of 878,025. The firm has a market capitalization of $13.71 billion, a P/E ratio of 36.31 and a beta of 0.34. The firm's fifty day moving average is $123.14 and its 200-day moving average is $130.61. Neurocrine Biosciences, Inc. has a 12-month low of $110.95 and a 12-month high of $157.98.

Insider Buying and Selling at Neurocrine Biosciences

In related news, insider Jude Onyia sold 2,331 shares of the firm's 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 completion of the sale, the insider now directly 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Needham & Company LLC reissued a "hold" rating on shares of Neurocrine Biosciences in a research note on Monday, November 11th. Wedbush reiterated an "outperform" rating and issued a $148.00 price target on shares of Neurocrine Biosciences in a research note on Monday. Cantor Fitzgerald restated an "overweight" rating and issued a $155.00 price objective on shares of Neurocrine Biosciences in a research report on Monday, September 16th. Barclays cut their target price on Neurocrine Biosciences from $180.00 to $160.00 and set an "overweight" rating for the company in a research report on Monday, September 9th. Finally, Royal Bank of Canada lowered their price target on Neurocrine Biosciences from $136.00 to $133.00 and set a "sector perform" rating on the stock in a report on Friday, October 4th. Five 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's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $165.00.

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.