Calamos Advisors LLC Decreases Stock Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Calamos Advisors LLC decreased its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 39.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,122 shares of the company’s stock after selling 2,651 shares during the quarter. Calamos Advisors LLC’s holdings in Neurocrine Biosciences were worth $567,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of NBIX. Mather Group LLC. bought a new stake in shares of Neurocrine Biosciences in the first quarter valued at about $26,000. RFP Financial Group LLC boosted its position in Neurocrine Biosciences by 346.5% during the 1st quarter. RFP Financial Group LLC now owns 192 shares of the company’s stock valued at $26,000 after acquiring an additional 149 shares in the last quarter. EdgeRock Capital LLC bought a new position in shares of Neurocrine Biosciences in the 4th quarter worth $31,000. New Covenant Trust Company N.A. bought a new position in Neurocrine Biosciences in the first quarter worth about $32,000. Finally, Benjamin F. Edwards & Company Inc. bought a new position in shares of Neurocrine Biosciences during the 4th quarter worth approximately $33,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NBIX. UBS Group upped their price target on Neurocrine Biosciences from $174.00 to $193.00 and gave the stock a “buy” rating in a research report on Tuesday, May 28th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $155.00 target price on shares of Neurocrine Biosciences in a research note on Thursday, July 25th. JPMorgan Chase & Co. upped their price target on shares of Neurocrine Biosciences from $173.00 to $181.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Royal Bank of Canada boosted their price objective on shares of Neurocrine Biosciences from $136.00 to $143.00 and gave the company a “sector perform” rating in a report on Friday, August 2nd. Finally, Jefferies Financial Group lifted their price target on Neurocrine Biosciences from $177.00 to $189.00 and gave the stock a “buy” rating in a research report on Monday, August 19th. Six analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $161.32.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director William H. Rastetter sold 14,250 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $146.69, for a total value of $2,090,332.50. Following the transaction, the director now owns 37,491 shares of the company’s stock, valued at $5,499,554.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Stephen A. Sherwin sold 40,000 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $133.46, for a total value of $5,338,400.00. Following the completion of the sale, the director now directly owns 26,504 shares of the company’s stock, valued at $3,537,223.84. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director William H. Rastetter sold 14,250 shares of Neurocrine Biosciences stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $146.69, for a total value of $2,090,332.50. Following the sale, the director now owns 37,491 shares in the company, valued at approximately $5,499,554.79. The disclosure for this sale can be found here. In the last ninety days, insiders sold 111,798 shares of company stock worth $16,014,496. 4.30% of the stock is currently owned by company insiders.

Neurocrine Biosciences Price Performance

Shares of Neurocrine Biosciences stock opened at $152.80 on Monday. Neurocrine Biosciences, Inc. has a 1-year low of $103.63 and a 1-year high of $157.98. The stock has a market cap of $15.38 billion, a P/E ratio of 42.10 and a beta of 0.37. The stock’s 50 day simple moving average is $143.56 and its 200-day simple moving average is $139.28.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its earnings results on Thursday, August 1st. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.52). The firm had revenue of $590.20 million for the quarter, compared to analysts’ expectations of $545.98 million. Neurocrine Biosciences had a return on equity of 14.86% and a net margin of 16.00%. Neurocrine Biosciences’s revenue for the quarter was up 30.4% on a year-over-year basis. During the same period last year, the firm earned $0.95 earnings per share. As a group, research analysts expect that Neurocrine Biosciences, Inc. will post 4.22 EPS for the current fiscal year.

About Neurocrine Biosciences

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.