Arizona State Retirement System Increases Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Arizona State Retirement System raised its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 1.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 29,302 shares of the company’s stock after purchasing an additional 469 shares during the quarter. Arizona State Retirement System’s holdings in Neurocrine Biosciences were worth $4,000,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Louisiana State Employees Retirement System boosted its position in shares of Neurocrine Biosciences by 0.4% during the fourth quarter. Louisiana State Employees Retirement System now owns 28,100 shares of the company’s stock valued at $3,836,000 after buying an additional 100 shares during the period. Metis Global Partners LLC boosted its position in shares of Neurocrine Biosciences by 4.3% during the fourth quarter. Metis Global Partners LLC now owns 2,548 shares of the company’s stock valued at $348,000 after buying an additional 104 shares during the period. Commerce Bank boosted its position in shares of Neurocrine Biosciences by 2.6% during the third quarter. Commerce Bank now owns 4,199 shares of the company’s stock valued at $484,000 after buying an additional 108 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its position in shares of Neurocrine Biosciences by 2.7% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,302 shares of the company’s stock valued at $496,000 after buying an additional 113 shares during the period. Finally, Brooklyn Investment Group boosted its position in shares of Neurocrine Biosciences by 99.1% during the fourth quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock valued at $32,000 after buying an additional 115 shares during the period. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Wall Street Analysts Forecast Growth

NBIX has been the subject of several recent analyst reports. Needham & Company LLC restated a “hold” rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. Deutsche Bank Aktiengesellschaft assumed coverage on Neurocrine Biosciences in a report on Tuesday, February 11th. They issued a “hold” rating and a $138.00 price target for the company. Guggenheim lowered their price target on Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating for the company in a report on Monday, February 10th. Piper Sandler reiterated an “overweight” rating and issued a $160.00 price target on shares of Neurocrine Biosciences in a report on Monday, December 23rd. Finally, Barclays boosted their price target on Neurocrine Biosciences from $160.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, December 23rd. Five research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Neurocrine Biosciences presently has an average rating of “Moderate Buy” and a consensus target price of $165.24.

Neurocrine Biosciences Trading Up 0.3 %

Shares of NBIX stock opened at $113.04 on Friday. The business’s fifty day simple moving average is $132.47 and its 200-day simple moving average is $127.19. The company has a market cap of $11.27 billion, a PE ratio of 34.36, a PEG ratio of 0.77 and a beta of 0.35. Neurocrine Biosciences, Inc. has a 12-month low of $110.25 and a 12-month high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Thursday, February 6th. The company reported $1.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.62). Neurocrine Biosciences had a return on equity of 13.38% and a net margin of 14.49%. On average, equities analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Neurocrine Biosciences announced that its Board of Directors has authorized a share repurchase plan on Friday, February 21st that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 4.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Neurocrine Biosciences

In other news, insider Ingrid Delaet sold 1,091 shares of the company’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $135.00, for a total transaction of $147,285.00. Following the transaction, the insider now directly owns 2,507 shares of the company’s stock, valued at approximately $338,445. This represents a 30.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Matt Abernethy sold 1,283 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $152.87, for a total value of $196,132.21. Following the transaction, the chief financial officer now directly owns 32,681 shares in the company, valued at approximately $4,995,944.47. The trade was a 3.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 234,269 shares of company stock valued at $34,053,879. Corporate insiders own 4.30% of the company’s stock.

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.