Janus Henderson Group PLC Sells 179,007 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Janus Henderson Group PLC reduced its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 18.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 792,196 shares of the company's stock after selling 179,007 shares during the quarter. Janus Henderson Group PLC owned approximately 0.78% of Neurocrine Biosciences worth $91,276,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in NBIX. Ashton Thomas Private Wealth LLC purchased a new position in shares of Neurocrine Biosciences in the second quarter valued at $28,000. Innealta Capital LLC purchased a new position in shares of Neurocrine Biosciences in the second quarter valued at $30,000. EdgeRock Capital LLC purchased a new position in shares of Neurocrine Biosciences in the second quarter valued at $35,000. Blue Trust Inc. grew its position in shares of Neurocrine Biosciences by 171.9% in the third quarter. Blue Trust Inc. now owns 348 shares of the company's stock valued at $40,000 after purchasing an additional 220 shares in the last quarter. Finally, Plato Investment Management Ltd grew its position in shares of Neurocrine Biosciences by 44.1% in the second quarter. Plato Investment Management Ltd now owns 425 shares of the company's stock valued at $59,000 after purchasing an additional 130 shares in the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Neurocrine Biosciences news, insider Jude Onyia sold 2,331 shares of the company'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 transaction, the insider now owns 15,449 shares in the company, valued at approximately $1,951,054.21. This represents a 13.11 % decrease in their position. The transaction 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.

Neurocrine Biosciences Price Performance

NASDAQ:NBIX traded down $1.32 during mid-day trading on Thursday, reaching $126.42. 540,445 shares of the company's stock traded hands, compared to its average volume of 871,402. Neurocrine Biosciences, Inc. has a 12-month low of $110.95 and a 12-month high of $157.98. The firm has a market capitalization of $12.80 billion, a price-to-earnings ratio of 33.89 and a beta of 0.34. The company has a 50 day moving average price of $120.07 and a 200-day moving average price of $131.19.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Royal Bank of Canada reduced their price target on Neurocrine Biosciences from $136.00 to $133.00 and set a "sector perform" rating for the company in a research report on Friday, October 4th. Jefferies Financial Group lifted their price objective on Neurocrine Biosciences from $177.00 to $189.00 and gave the company a "buy" rating in a research note on Monday, August 19th. JPMorgan Chase & Co. lifted their price objective on Neurocrine Biosciences from $173.00 to $181.00 and gave the company an "overweight" rating in a research note on Wednesday, August 7th. Piper Sandler raised Neurocrine Biosciences from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $131.00 to $159.00 in a research note on Thursday, August 29th. Finally, BMO Capital Markets dropped their price objective on Neurocrine Biosciences from $128.00 to $114.00 and set a "market perform" rating for the company in a research note on Thursday, October 17th. 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. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target 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.