Vestcor Inc Trims Stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Vestcor Inc reduced its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 19.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,208 shares of the company's stock after selling 4,884 shares during the period. Vestcor Inc's holdings in Neurocrine Biosciences were worth $2,328,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in NBIX. Ashton Thomas Private Wealth LLC purchased a new position in Neurocrine Biosciences during the second quarter worth approximately $28,000. Innealta Capital LLC purchased a new position in shares of Neurocrine Biosciences during the 2nd quarter worth $30,000. EdgeRock Capital LLC acquired a new position in shares of Neurocrine Biosciences during the 2nd quarter valued at about $35,000. Blue Trust Inc. grew its holdings 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 during the period. Finally, Plato Investment Management Ltd increased its position in Neurocrine Biosciences by 44.1% during the second quarter. Plato Investment Management Ltd now owns 425 shares of the company's stock worth $59,000 after purchasing an additional 130 shares during the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related 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 value of $294,381.99. Following the completion of the transaction, the insider now directly owns 15,449 shares of the company's stock, valued at $1,951,054.21. This represents a 13.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 4.30% of the company's stock.

Neurocrine Biosciences Price Performance

Shares of Neurocrine Biosciences stock traded down $0.74 on Wednesday, reaching $128.22. 725,287 shares of the company were exchanged, compared to its average volume of 868,371. The stock's 50 day moving average price is $121.19 and its 200-day moving average price is $130.80. Neurocrine Biosciences, Inc. has a 1-year low of $110.95 and a 1-year high of $157.98. The company has a market cap of $12.98 billion, a P/E ratio of 34.38 and a beta of 0.34.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on NBIX shares. Royal Bank of Canada decreased their target price on shares of Neurocrine Biosciences from $136.00 to $133.00 and set a "sector perform" rating on the stock in a report on Friday, October 4th. HC Wainwright reiterated a "buy" rating and issued a $190.00 price objective on shares of Neurocrine Biosciences in a report on Friday, November 1st. Needham & Company LLC reissued a "hold" rating on shares of Neurocrine Biosciences in a research note on Monday, November 11th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $155.00 price target on shares of Neurocrine Biosciences in a research note on Monday, September 16th. Finally, Raymond James reissued an "outperform" rating and set a $155.00 price objective on shares of Neurocrine Biosciences in a research report on Thursday, October 10th. Five 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, the company presently has a consensus 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.