First Trust Advisors LP Has $50.97 Million Stock Holdings in Neurocrine Biosciences, Inc. $NBIX

First Trust Advisors LP trimmed its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 14.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 363,113 shares of the company’s stock after selling 60,358 shares during the quarter. First Trust Advisors LP owned 0.36% of Neurocrine Biosciences worth $50,974,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in NBIX. Arrowstreet Capital Limited Partnership grew its stake in shares of Neurocrine Biosciences by 87.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 125,162 shares of the company’s stock worth $15,732,000 after buying an additional 58,562 shares during the last quarter. Saturn V Capital Management LP bought a new position in shares of Neurocrine Biosciences in the 2nd quarter valued at $7,313,000. Capital Fund Management S.A. lifted its stake in shares of Neurocrine Biosciences by 15.9% in the 2nd quarter. Capital Fund Management S.A. now owns 203,628 shares of the company’s stock valued at $25,594,000 after acquiring an additional 27,987 shares during the last quarter. Rhenman & Partners Asset Management AB boosted its holdings in shares of Neurocrine Biosciences by 66.1% during the 2nd quarter. Rhenman & Partners Asset Management AB now owns 149,217 shares of the company’s stock valued at $18,755,000 after acquiring an additional 59,400 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in shares of Neurocrine Biosciences by 86.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 28,185 shares of the company’s stock valued at $3,957,000 after acquiring an additional 13,087 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Neurocrine Biosciences

In related news, CEO Kyle Gano sold 36,400 shares of the company’s stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $132.70, for a total value of $4,830,280.00. Following the sale, the chief executive officer directly owned 140,407 shares in the company, valued at $18,632,008.90. This represents a 20.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Leslie V. Norwalk sold 1,190 shares of the stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $155.09, for a total transaction of $184,557.10. Following the sale, the director directly owned 6,239 shares of the company’s stock, valued at $967,606.51. This represents a 16.02% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 42,590 shares of company stock worth $5,775,987 over the last quarter. 4.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

NBIX has been the subject of a number of recent research reports. Wedbush upped their target price on Neurocrine Biosciences from $149.00 to $151.00 and gave the stock an “outperform” rating in a report on Thursday, February 12th. JPMorgan Chase & Co. cut their price target on Neurocrine Biosciences from $177.00 to $176.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 17th. Citigroup boosted their price target on Neurocrine Biosciences from $203.00 to $204.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Neurocrine Biosciences in a research note on Thursday, January 22nd. Finally, Needham & Company LLC dropped their price objective on shares of Neurocrine Biosciences from $187.00 to $185.00 and set a “buy” rating for the company in a report on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $175.05.

Neurocrine Biosciences Stock Down 0.2%

Shares of NASDAQ:NBIX opened at $129.54 on Thursday. The firm has a market cap of $13.00 billion, a P/E ratio of 27.80, a P/E/G ratio of 0.68 and a beta of 0.32. Neurocrine Biosciences, Inc. has a 12-month low of $84.23 and a 12-month high of $160.18. The business has a fifty day simple moving average of $133.57 and a 200 day simple moving average of $140.36.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings results on Wednesday, February 11th. The company reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.48). Neurocrine Biosciences had a net margin of 16.73% and a return on equity of 16.48%. The company had revenue of $805.50 million during the quarter, compared to the consensus estimate of $804.21 million. During the same quarter last year, the firm posted $1.69 EPS. The company’s quarterly revenue was up 28.3% on a year-over-year basis. As a group, equities research analysts expect that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences (NASDAQ: NBIX) is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research‐driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine’s operations encompass drug discovery, clinical development and commercialization activities.

The company’s lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.