California Public Employees Retirement System Trims Stock Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

California Public Employees Retirement System lessened its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 0.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 586,950 shares of the company’s stock after selling 5,035 shares during the period. California Public Employees Retirement System owned approximately 0.60% of Neurocrine Biosciences worth $77,337,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Headinvest LLC purchased a new position in shares of Neurocrine Biosciences during the third quarter worth $28,000. Lindbrook Capital LLC increased its holdings in Neurocrine Biosciences by 85.0% in the fourth quarter. Lindbrook Capital LLC now owns 209 shares of the company’s stock valued at $28,000 after buying an additional 96 shares in the last quarter. BluePath Capital Management LLC purchased a new position in Neurocrine Biosciences in the third quarter valued at $35,000. Sunbelt Securities Inc. increased its holdings in Neurocrine Biosciences by 34.3% in the third quarter. Sunbelt Securities Inc. now owns 325 shares of the company’s stock valued at $37,000 after buying an additional 83 shares in the last quarter. Finally, Fifth Third Bancorp increased its holdings in Neurocrine Biosciences by 51.3% in the third quarter. Fifth Third Bancorp now owns 622 shares of the company’s stock valued at $70,000 after buying an additional 211 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Price Performance

NASDAQ:NBIX opened at $138.97 on Thursday. The firm has a market capitalization of $13.83 billion, a price-to-earnings ratio of 57.43 and a beta of 0.25. The company’s 50-day moving average is $136.48 and its two-hundred day moving average is $127.62. Neurocrine Biosciences, Inc. has a 1-year low of $89.04 and a 1-year high of $148.37.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its earnings results on Wednesday, February 7th. The company reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.31. The company had revenue of $515.20 million for the quarter, compared to analyst estimates of $518.52 million. Neurocrine Biosciences had a net margin of 13.23% and a return on equity of 12.85%. Neurocrine Biosciences’s revenue was up 25.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.88 EPS. As a group, equities analysts anticipate that Neurocrine Biosciences, Inc. will post 4.84 earnings per share for the current fiscal year.

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Ingrid Delaet sold 5,000 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $145.06, for a total value of $725,300.00. Following the transaction, the insider now directly owns 7,507 shares in the company, valued at approximately $1,088,965.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Ingrid Delaet sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $145.06, for a total value of $725,300.00. Following the transaction, the insider now directly owns 7,507 shares in the company, valued at approximately $1,088,965.42. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Kevin Charles Gorman sold 2,707 shares of the company’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $140.69, for a total transaction of $380,847.83. Following the completion of the transaction, the chief executive officer now owns 502,188 shares in the company, valued at $70,652,829.72. The disclosure for this sale can be found here. Insiders have sold 186,994 shares of company stock worth $25,806,409 in the last ninety days. 4.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on NBIX shares. Barclays lifted their price objective on shares of Neurocrine Biosciences from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Tuesday, January 23rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Neurocrine Biosciences in a report on Tuesday. The Goldman Sachs Group boosted their target price on shares of Neurocrine Biosciences from $134.00 to $153.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Cantor Fitzgerald reissued an “overweight” rating and set a $155.00 target price on shares of Neurocrine Biosciences in a research note on Wednesday, April 10th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Neurocrine Biosciences from $148.00 to $158.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 20th. Six research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Neurocrine Biosciences presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.38.

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.