First Mercantile Trust Co. Trims Stake in Neurocrine Biosciences, Inc. (NBIX)

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First Mercantile Trust Co. cut its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 87.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 561 shares of the company’s stock after selling 3,806 shares during the period. First Mercantile Trust Co.’s holdings in Neurocrine Biosciences were worth $49,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc grew its stake in shares of Neurocrine Biosciences by 2.7% in the 3rd quarter. Vanguard Group Inc now owns 7,772,236 shares of the company’s stock valued at $955,597,000 after buying an additional 204,065 shares during the period. BB Biotech AG boosted its stake in Neurocrine Biosciences by 5.9% during the 4th quarter. BB Biotech AG now owns 3,343,090 shares of the company’s stock valued at $238,730,000 after purchasing an additional 185,000 shares during the last quarter. First Trust Advisors LP boosted its stake in Neurocrine Biosciences by 27.3% during the 4th quarter. First Trust Advisors LP now owns 1,299,455 shares of the company’s stock valued at $92,794,000 after purchasing an additional 278,598 shares during the last quarter. Geode Capital Management LLC boosted its stake in Neurocrine Biosciences by 4.2% during the 4th quarter. Geode Capital Management LLC now owns 907,292 shares of the company’s stock valued at $64,789,000 after purchasing an additional 36,508 shares during the last quarter. Finally, Norges Bank acquired a new position in Neurocrine Biosciences during the 4th quarter valued at about $61,171,000.

Neurocrine Biosciences stock opened at $78.75 on Friday. Neurocrine Biosciences, Inc. has a 52 week low of $64.72 and a 52 week high of $126.98. The company has a current ratio of 8.79, a quick ratio of 8.61 and a debt-to-equity ratio of 0.96. The company has a market cap of $7.28 billion, a price-to-earnings ratio of 357.95 and a beta of 1.73.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its earnings results on Monday, April 29th. The company reported ($1.12) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.05) by ($0.07). Neurocrine Biosciences had a negative return on equity of 9.14% and a negative net margin of 7.56%. The firm had revenue of $138.40 million for the quarter, compared to the consensus estimate of $136.77 million. During the same period in the prior year, the business earned ($0.47) EPS. Neurocrine Biosciences’s quarterly revenue was up 94.7% compared to the same quarter last year. As a group, sell-side analysts expect that Neurocrine Biosciences, Inc. will post -0.24 earnings per share for the current fiscal year.

NBIX has been the subject of a number of analyst reports. ValuEngine upgraded Neurocrine Biosciences from a “hold” rating to a “buy” rating in a research note on Tuesday, March 19th. Bank of America cut their price target on Neurocrine Biosciences from $124.00 to $117.00 and set a “buy” rating for the company in a research note on Wednesday, February 6th. HC Wainwright reiterated a “buy” rating on shares of Neurocrine Biosciences in a research note on Wednesday, January 30th. Cantor Fitzgerald reiterated a “buy” rating and set a $121.00 price target on shares of Neurocrine Biosciences in a research note on Tuesday, January 29th. Finally, Oppenheimer set a $105.00 price target on Neurocrine Biosciences and gave the company a “buy” rating in a research note on Tuesday, January 29th. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $102.95.

In other Neurocrine Biosciences news, insider Haig P. Bozigian sold 66,667 shares of Neurocrine Biosciences stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $80.13, for a total transaction of $5,342,026.71. Following the transaction, the insider now owns 164,415 shares of the company’s stock, valued at approximately $13,174,573.95. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Haig P. Bozigian sold 1,300 shares of Neurocrine Biosciences stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $80.03, for a total transaction of $104,039.00. Following the completion of the sale, the insider now directly owns 143,276 shares in the company, valued at approximately $11,466,378.28. The disclosure for this sale can be found here. In the last three months, insiders have sold 102,514 shares of company stock worth $8,054,710. Insiders own 4.30% of the company’s stock.

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Neurocrine Biosciences Company Profile

Neurocrine Biosciences, Inc discovers and develops pharmaceuticals for the treatment of neurological and endocrine-related diseases and disorders in the United States. The company offers INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor (VMAT2), which is used for the treatment of movement disorders; ORILISSA, a gonadotropin-releasing hormone (GnRH) antagonist for use in women's health.

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

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