Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Stake Trimmed by American Century Companies Inc.

American Century Companies Inc. cut its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 48.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 198,536 shares of the company’s stock after selling 185,483 shares during the quarter. American Century Companies Inc.’s holdings in Neurocrine Biosciences were worth $27,332,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Principal Securities Inc. acquired a new stake in shares of Neurocrine Biosciences during the fourth quarter valued at approximately $75,000. Dimensional Fund Advisors LP grew its position in Neurocrine Biosciences by 1.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 336,536 shares of the company’s stock worth $44,343,000 after purchasing an additional 5,907 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in Neurocrine Biosciences by 3.2% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 2,530 shares of the company’s stock valued at $333,000 after purchasing an additional 78 shares during the period. Janney Montgomery Scott LLC lifted its holdings in shares of Neurocrine Biosciences by 87.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 8,637 shares of the company’s stock valued at $1,138,000 after purchasing an additional 4,030 shares in the last quarter. Finally, ING Groep NV acquired a new stake in shares of Neurocrine Biosciences in the fourth quarter worth $1,489,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

NBIX has been the topic of several recent analyst reports. HC Wainwright reissued a “buy” rating and set a $190.00 price target on shares of Neurocrine Biosciences in a research report on Thursday, August 29th. StockNews.com upgraded Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 4th. JPMorgan Chase & Co. raised their price target on shares of Neurocrine Biosciences from $173.00 to $181.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Oppenheimer upped their price objective on shares of Neurocrine Biosciences from $216.00 to $219.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Neurocrine Biosciences in a research note on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $162.20.

Neurocrine Biosciences Stock Performance

Shares of NBIX opened at $119.85 on Thursday. The company has a 50-day simple moving average of $139.59 and a 200-day simple moving average of $138.37. Neurocrine Biosciences, Inc. has a 52 week low of $103.63 and a 52 week high of $157.98. The firm has a market capitalization of $12.06 billion, a P/E ratio of 33.02 and a beta of 0.37.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.52). Neurocrine Biosciences had a net margin of 16.00% and a return on equity of 14.86%. The firm had revenue of $590.20 million for the quarter, compared to the consensus estimate of $545.98 million. During the same quarter in the prior year, the firm posted $0.95 earnings per share. The business’s revenue for the quarter was up 30.4% on a year-over-year basis. As a group, equities analysts forecast that Neurocrine Biosciences, Inc. will post 4.19 earnings per share for the current year.

Insider Buying and Selling at Neurocrine Biosciences

In related news, Director Gary A. Lyons sold 930 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $150.03, for a total transaction of $139,527.90. Following the completion of the sale, the director now owns 119,047 shares in the company, valued at approximately $17,860,621.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Gary A. Lyons sold 930 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $150.03, for a total transaction of $139,527.90. Following the completion of the sale, the director now directly owns 119,047 shares of the company’s stock, valued at approximately $17,860,621.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Julie Cooke sold 900 shares of the firm’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $150.04, for a total value of $135,036.00. Following the completion of the sale, the insider now owns 18,202 shares of the company’s stock, valued at $2,731,028.08. The disclosure for this sale can be found here. Insiders have sold 71,798 shares of company stock worth $10,676,096 over the last three months. Company insiders own 4.30% of the company’s stock.

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.