Commonwealth of Pennsylvania Public School Empls Retrmt SYS Raises Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 0.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,361 shares of the company’s stock after buying an additional 103 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Neurocrine Biosciences were worth $3,052,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in shares of Neurocrine Biosciences during the fourth quarter worth about $115,193,000. Thrivent Financial for Lutherans grew its position in Neurocrine Biosciences by 2,759.4% during the 4th quarter. Thrivent Financial for Lutherans now owns 737,772 shares of the company’s stock worth $100,705,000 after purchasing an additional 711,970 shares during the last quarter. State Street Corp increased its stake in Neurocrine Biosciences by 11.7% during the 3rd quarter. State Street Corp now owns 5,148,293 shares of the company’s stock valued at $593,186,000 after purchasing an additional 539,936 shares in the last quarter. Jennison Associates LLC increased its stake in Neurocrine Biosciences by 145.1% during the 4th quarter. Jennison Associates LLC now owns 820,694 shares of the company’s stock valued at $112,025,000 after purchasing an additional 485,894 shares in the last quarter. Finally, Impax Asset Management Group plc raised its holdings in shares of Neurocrine Biosciences by 207.8% in the fourth quarter. Impax Asset Management Group plc now owns 261,599 shares of the company’s stock worth $35,708,000 after buying an additional 176,599 shares during the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 2,707 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $152.92, for a total value of $413,954.44. Following the transaction, the director now owns 517,030 shares in the company, valued at approximately $79,064,227.60. This trade represents a 0.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Ingrid Delaet sold 272 shares of the stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $138.10, for a total transaction of $37,563.20. Following the completion of the sale, the insider now owns 2,507 shares of the company’s stock, valued at $346,216.70. This trade represents a 9.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 233,178 shares of company stock worth $33,906,594 over the last quarter. 4.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

NBIX has been the topic of several research reports. Royal Bank of Canada cut their target price on Neurocrine Biosciences from $154.00 to $148.00 and set a “sector perform” rating on the stock in a research report on Friday, February 7th. Piper Sandler restated an “overweight” rating and issued a $160.00 price objective on shares of Neurocrine Biosciences in a research note on Monday, December 23rd. UBS Group lifted their target price on Neurocrine Biosciences from $162.00 to $176.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft started coverage on shares of Neurocrine Biosciences in a report on Tuesday, February 11th. They issued a “hold” rating and a $138.00 price target on the stock. Finally, Canaccord Genuity Group decreased their price objective on shares of Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Five research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $165.24.

Neurocrine Biosciences Stock Performance

NASDAQ:NBIX opened at $115.60 on Tuesday. The stock has a market capitalization of $11.53 billion, a PE ratio of 35.14, a P/E/G ratio of 0.77 and a beta of 0.35. Neurocrine Biosciences, Inc. has a fifty-two week low of $105.18 and a fifty-two week high of $157.98. The company has a fifty day moving average of $126.35 and a two-hundred day moving average of $125.13.

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

Neurocrine Biosciences announced that its board has approved a stock repurchase plan on Friday, February 21st that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 4.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Neurocrine Biosciences 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.