Los Angeles Capital Management LLC Sells 673,010 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Los Angeles Capital Management LLC lessened its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 73.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 245,381 shares of the company’s stock after selling 673,010 shares during the quarter. Los Angeles Capital Management LLC owned 0.25% of Neurocrine Biosciences worth $33,843,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. CWM LLC lifted its stake in shares of Neurocrine Biosciences by 60.7% in the first quarter. CWM LLC now owns 4,664 shares of the company’s stock worth $643,000 after buying an additional 1,762 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new position in Neurocrine Biosciences in the 4th quarter worth approximately $66,000. HighPoint Advisor Group LLC bought a new position in Neurocrine Biosciences in the 4th quarter valued at approximately $352,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Neurocrine Biosciences during the 4th quarter valued at $9,355,000. Finally, Vanguard Group Inc. increased its holdings in shares of Neurocrine Biosciences by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 9,710,328 shares of the company’s stock worth $1,279,433,000 after purchasing an additional 150,485 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on NBIX shares. HC Wainwright increased their price objective on Neurocrine Biosciences from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Morgan Stanley restated an “overweight” rating and set a $160.00 price objective on shares of Neurocrine Biosciences in a research report on Wednesday, June 12th. Barclays lifted their target price on shares of Neurocrine Biosciences from $150.00 to $169.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Cantor Fitzgerald reissued an “overweight” rating and set a $155.00 price target on shares of Neurocrine Biosciences in a report on Wednesday, April 10th. Finally, Guggenheim lifted their price objective on Neurocrine Biosciences from $164.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Six equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Neurocrine Biosciences presently has a consensus rating of “Moderate Buy” and an average price target of $152.00.

Insider Buying and Selling

In other Neurocrine Biosciences news, insider Eric Benevich sold 19,818 shares of the stock in a transaction on Monday, April 15th. The shares were sold at an average price of $133.36, for a total transaction of $2,642,928.48. Following the completion of the transaction, the insider now owns 40,778 shares in the company, valued at $5,438,154.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Eric Benevich sold 19,818 shares of Neurocrine Biosciences stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $133.36, for a total value of $2,642,928.48. Following the completion of the transaction, the insider now owns 40,778 shares in the company, valued at approximately $5,438,154.08. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Matt Abernethy sold 15,000 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $140.24, for a total value of $2,103,600.00. Following the completion of the sale, the chief financial officer now owns 31,528 shares of the company’s stock, valued at $4,421,486.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 88,697 shares of company stock worth $11,975,615. Insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Stock Down 3.3 %

Shares of Neurocrine Biosciences stock opened at $130.86 on Thursday. The stock’s 50-day simple moving average is $137.10 and its 200-day simple moving average is $134.93. Neurocrine Biosciences, Inc. has a 52 week low of $93.02 and a 52 week high of $148.37. The company has a market capitalization of $13.17 billion, a price-to-earnings ratio of 36.05 and a beta of 0.36.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.42 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.62). Neurocrine Biosciences had a return on equity of 17.45% and a net margin of 18.65%. The company had revenue of $515.30 million during the quarter, compared to analysts’ expectations of $512.21 million. On average, equities analysts expect that Neurocrine Biosciences, Inc. will post 4.19 earnings per share for the current year.

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.