Blue Sky Asset Management LLC cut its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 18.6% during the second quarter, Holdings Channel reports. The institutional investor owned 22,710 shares of the company’s stock after selling 5,206 shares during the period. Blue Sky Asset Management LLC’s holdings in Neurocrine Biosciences were worth $1,045,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Independent Portfolio Consultants Inc. purchased a new position in shares of Neurocrine Biosciences during the first quarter worth approximately $106,000. First Mercantile Trust Co. increased its position in shares of Neurocrine Biosciences by 22.2% in the first quarter. First Mercantile Trust Co. now owns 3,082 shares of the company’s stock worth $133,000 after buying an additional 560 shares in the last quarter. Capstone Asset Management Co. purchased a new position in shares of Neurocrine Biosciences during the first quarter worth approximately $214,000. Grandfield & Dodd LLC purchased a new position in shares of Neurocrine Biosciences during the first quarter worth approximately $230,000. Finally, Quantitative Systematic Strategies LLC purchased a new position in shares of Neurocrine Biosciences during the first quarter worth approximately $261,000. Institutional investors and hedge funds own 96.48% of the company’s stock.

Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) opened at 53.65 on Wednesday. Neurocrine Biosciences, Inc. has a 52 week low of $37.35 and a 52 week high of $55.38. The stock’s market cap is $4.73 billion. The stock’s 50 day moving average price is $47.37 and its 200-day moving average price is $46.32.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its earnings results on Thursday, August 3rd. The company reported ($0.68) earnings per share for the quarter, missing the consensus estimate of ($0.67) by $0.01. The firm had revenue of $6.34 million during the quarter, compared to analyst estimates of $0.61 million. During the same quarter in the previous year, the business earned ($0.46) earnings per share. Equities analysts anticipate that Neurocrine Biosciences, Inc. will post ($2.45) earnings per share for the current fiscal year.

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A number of brokerages have commented on NBIX. BMO Capital Markets boosted their target price on shares of Neurocrine Biosciences from $75.00 to $84.00 and gave the stock an “outperform” rating in a report on Friday, August 4th. Barclays PLC boosted their target price on shares of Neurocrine Biosciences from $60.00 to $70.00 and gave the stock an “overweight” rating in a report on Tuesday, May 2nd. ValuEngine upgraded shares of Neurocrine Biosciences from a “strong sell” rating to a “sell” rating in a report on Friday, June 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $62.00 target price on shares of Neurocrine Biosciences in a report on Monday, April 17th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $67.00 target price on shares of Neurocrine Biosciences in a report on Monday, May 22nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and sixteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $68.25.

In other Neurocrine Biosciences news, insider Christopher Flint Obrien sold 8,734 shares of Neurocrine Biosciences stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $50.00, for a total transaction of $436,700.00. Following the transaction, the insider now owns 57,707 shares of the company’s stock, valued at $2,885,350. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Malcolm Lloyd-Smith sold 9,960 shares of Neurocrine Biosciences stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $53.63, for a total value of $534,154.80. Following the transaction, the insider now directly owns 17,997 shares in the company, valued at approximately $965,179.11. The disclosure for this sale can be found here. Insiders have sold a total of 51,194 shares of company stock worth $2,629,755 in the last three months. Corporate insiders own 4.80% of the company’s stock.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences, Inc is engaged in discovering and developing pharmaceuticals, in diseases with unmet medical needs, through its research and development (R&D) platform, focused on neurological and endocrine based diseases and disorders. Its three lead late-stage clinical programs are elagolix, which is a gonadotropin-releasing hormone (GnRH) antagonist for endometriosis and uterine fibroids; INGREZZA (valbenazine), which is a vesicular monoamine transporter 2 (VMAT2) inhibitor, for the treatment of movement disorders, and opicapone, which is a selective catechol-O-methyltransferase inhibitor that is an adjunct therapy to preparations of levodopa/Dihydroxyphenylalanine (DOPA) decarboxylase inhibitors for adult patients with Parkinson’s disease.

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

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