Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Stock Position Cut by Fmr LLC

FMR LLC trimmed its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 28.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 246,106 shares of the company's stock after selling 95,723 shares during the quarter. FMR LLC owned about 0.24% of Neurocrine Biosciences worth $28,356,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of NBIX. Sequoia Financial Advisors LLC purchased a new stake in Neurocrine Biosciences in the second quarter valued at approximately $207,000. Wealth Enhancement Advisory Services LLC grew its stake in Neurocrine Biosciences by 34.0% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 6,357 shares of the company's stock worth $875,000 after buying an additional 1,613 shares during the period. V Square Quantitative Management LLC purchased a new stake in Neurocrine Biosciences during the second quarter worth approximately $184,000. Envestnet Portfolio Solutions Inc. grew its stake in Neurocrine Biosciences by 6.6% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 2,710 shares of the company's stock worth $373,000 after buying an additional 168 shares during the period. Finally, LA Financiere DE L Echiquier grew its stake in Neurocrine Biosciences by 948.3% during the second quarter. LA Financiere DE L Echiquier now owns 22,015 shares of the company's stock worth $3,031,000 after buying an additional 19,915 shares during the period. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NBIX has been the subject of several research reports. BMO Capital Markets decreased their price objective on shares of 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. Cantor Fitzgerald reissued an "overweight" rating and set a $155.00 target price on shares of Neurocrine Biosciences in a research report on Monday, September 16th. Barclays reduced their target price on shares of Neurocrine Biosciences from $180.00 to $160.00 and set an "overweight" rating on the stock in a research report on Monday, September 9th. StockNews.com cut shares of Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a research report on Friday, November 1st. Finally, Needham & Company LLC reissued a "hold" rating on shares of Neurocrine Biosciences in a research report on Monday, November 11th. Five research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Neurocrine Biosciences has a consensus rating of "Moderate Buy" and a consensus target price of $163.91.

Neurocrine Biosciences Stock Down 0.1 %

Shares of NASDAQ:NBIX traded down $0.16 on Tuesday, reaching $128.96. 803,361 shares of the company's stock were exchanged, compared to its average volume of 868,972. The firm has a market capitalization of $13.06 billion, a price-to-earnings ratio of 34.57 and a beta of 0.34. Neurocrine Biosciences, Inc. has a fifty-two week low of $110.95 and a fifty-two week high of $157.98. The business's 50-day moving average is $120.91 and its two-hundred day moving average is $130.82.

Insiders Place Their Bets

In other news, insider Jude Onyia sold 2,331 shares of the company's stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $126.29, for a total transaction of $294,381.99. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.30% of the stock is owned by corporate insiders.

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.