Neurocrine Biosciences Inc. (NASDAQ:NBIX) shares were down 3.9% during mid-day trading on Wednesday . The company traded as low as $46.31 and last traded at $46.49, with a volume of 995,090 shares changing hands. The stock had previously closed at $48.40.

A number of research analysts recently issued reports on NBIX shares. Jefferies Group restated a “buy” rating and set a $60.00 target price on shares of Neurocrine Biosciences in a research report on Monday, March 28th. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $96.00 price objective on shares of Neurocrine Biosciences in a research report on Monday, April 4th. BMO Capital Markets assumed coverage on shares of Neurocrine Biosciences in a research report on Wednesday, April 6th. They issued an “outperform” rating for the company. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Neurocrine Biosciences in a research report on Tuesday, April 12th. Finally, Robert W. Baird reiterated a “buy” rating on shares of Neurocrine Biosciences in a research report on Sunday, May 8th. Ten research analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and a consensus price target of $63.90.

The firm has a 50-day moving average of $46.91 and a 200-day moving average of $43.57. The company’s market capitalization is $4.03 billion.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data on Thursday, May 5th. The company reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.07. The firm earned $15 million during the quarter, compared to analyst estimates of $15.43 million. During the same period in the prior year, the firm earned ($0.01) EPS. The business’s quarterly revenue was down 24.1% on a year-over-year basis. Analysts forecast that Neurocrine Biosciences Inc. will post ($1.94) earnings per share for the current year.

In related news, insider Christopher Flint Obrien sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $45.00, for a total value of $1,125,000.00. Following the completion of the sale, the insider now directly owns 80,044 shares in the company, valued at $3,601,980. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Richard F. Pops sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 25th. The shares were sold at an average price of $46.72, for a total transaction of $700,800.00. Following the completion of the sale, the director now owns 15,464 shares of the company’s stock, valued at $722,478.08. The disclosure for this sale can be found here.

Other large investors recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Neurocrine Biosciences by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 5,938,031 shares of the company’s stock worth $335,915,000 after buying an additional 175,693 shares during the last quarter. OppenheimerFunds Inc. increased its stake in Neurocrine Biosciences by 13.1% in the fourth quarter. OppenheimerFunds Inc. now owns 300,338 shares of the company’s stock worth $16,990,000 after buying an additional 34,818 shares during the last quarter. TD Asset Management Inc. increased its stake in Neurocrine Biosciences by 6.9% in the fourth quarter. TD Asset Management Inc. now owns 238,700 shares of the company’s stock worth $13,503,000 after buying an additional 15,500 shares during the last quarter. Brown Advisory Inc. increased its stake in Neurocrine Biosciences by 48.8% in the fourth quarter. Brown Advisory Inc. now owns 228,456 shares of the company’s stock worth $12,923,000 after buying an additional 74,902 shares during the last quarter. Finally, California Public Employees Retirement System increased its stake in Neurocrine Biosciences by 16.1% in the fourth quarter. California Public Employees Retirement System now owns 184,200 shares of the company’s stock worth $10,420,000 after buying an additional 25,600 shares during the last quarter.

Neurocrine Biosciences, Inc is engaged in the development of pharmaceutical products focused on neurological and endocrine-based diseases and disorders. The Company’s two lead late-stage clinical programs are Elagolix, a gonadotropin-releasing hormone (GnRH) antagonist for women’s health that is partnered with AbbVie Inc (AbbVie), and NBI-98854 (valbenazine), a vesicular monoamine transporter 2 (VMAT2) inhibitor for the treatment of movement disorders.

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