Rhumbline Advisers Raises Stock Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Rhumbline Advisers grew its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIXGet Rating) by 9.1% during the second quarter, Holdings Channel reports. The firm owned 278,435 shares of the company’s stock after purchasing an additional 23,171 shares during the quarter. Rhumbline Advisers’ holdings in Neurocrine Biosciences were worth $27,142,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of NBIX. IndexIQ Advisors LLC purchased a new stake in Neurocrine Biosciences during the first quarter worth about $27,000. Acadian Asset Management LLC purchased a new stake in Neurocrine Biosciences during the first quarter worth about $27,000. Covestor Ltd increased its stake in Neurocrine Biosciences by 431.0% during the first quarter. Covestor Ltd now owns 377 shares of the company’s stock worth $35,000 after purchasing an additional 306 shares during the period. Quadrant Capital Group LLC increased its stake in Neurocrine Biosciences by 6,483.3% during the first quarter. Quadrant Capital Group LLC now owns 395 shares of the company’s stock worth $37,000 after purchasing an additional 389 shares during the period. Finally, Prospera Financial Services Inc purchased a new stake in Neurocrine Biosciences during the first quarter worth about $46,000. 93.18% of the stock is currently owned by hedge funds and other institutional investors.

Neurocrine Biosciences Trading Down 1.5 %

NBIX stock opened at $118.97 on Thursday. The company has a market capitalization of $11.44 billion, a P/E ratio of 208.72 and a beta of 0.52. Neurocrine Biosciences, Inc. has a twelve month low of $71.88 and a twelve month high of $125.99. The business has a 50 day simple moving average of $112.30 and a 200-day simple moving average of $102.16.

Insider Activity

In other news, insider Eric Benevich sold 24,593 shares of the stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of $125.33, for a total value of $3,082,240.69. Following the completion of the sale, the insider now directly owns 15,643 shares of the company’s stock, valued at $1,960,537.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Eric Benevich sold 24,593 shares of the stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of $125.33, for a total value of $3,082,240.69. Following the completion of the sale, the insider now directly owns 15,643 shares of the company’s stock, valued at $1,960,537.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David W. Boyer sold 1,437 shares of the stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $106.59, for a total value of $153,169.83. Following the completion of the sale, the insider now directly owns 4,214 shares of the company’s stock, valued at $449,170.26. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 70,531 shares of company stock valued at $8,403,796. 4.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on NBIX. Cantor Fitzgerald boosted their price target on shares of Neurocrine Biosciences from $127.00 to $132.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 2nd. TheStreet upgraded shares of Neurocrine Biosciences from a “c+” rating to a “b” rating in a research note on Tuesday, November 1st. Raymond James upped their target price on shares of Neurocrine Biosciences from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday, November 3rd. Mizuho upped their target price on shares of Neurocrine Biosciences from $105.00 to $116.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 2nd. Finally, SVB Leerink upped their target price on shares of Neurocrine Biosciences from $100.00 to $115.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 2nd. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $124.00.

About Neurocrine Biosciences

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Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, endocrine, and psychiatric disorders. The company's portfolio includes treatments for tardive dyskinesia, Parkinson's disease, endometriosis, and uterine fibroids, as well as clinical programs in various therapeutic areas.

See Also

Want to see what other hedge funds are holding NBIX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Neurocrine Biosciences, Inc. (NASDAQ:NBIXGet Rating).

Institutional Ownership by Quarter for Neurocrine Biosciences (NASDAQ:NBIX)

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