New York State Teachers Retirement System Cuts Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

New York State Teachers Retirement System decreased its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 1.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 108,481 shares of the company’s stock after selling 2,055 shares during the period. New York State Teachers Retirement System owned approximately 0.11% of Neurocrine Biosciences worth $11,998,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Huntington National Bank raised its holdings in shares of Neurocrine Biosciences by 73.5% during the 4th quarter. Huntington National Bank now owns 229 shares of the company’s stock valued at $31,000 after buying an additional 97 shares in the last quarter. GeoWealth Management LLC grew its position in Neurocrine Biosciences by 65.4% during the fourth quarter. GeoWealth Management LLC now owns 258 shares of the company’s stock valued at $35,000 after acquiring an additional 102 shares during the last quarter. Golden State Wealth Management LLC grew its position in Neurocrine Biosciences by 116.9% during the first quarter. Golden State Wealth Management LLC now owns 397 shares of the company’s stock valued at $44,000 after acquiring an additional 214 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of Neurocrine Biosciences by 404.9% during the first quarter. Versant Capital Management Inc now owns 409 shares of the company’s stock worth $45,000 after acquiring an additional 328 shares in the last quarter. Finally, Harbor Capital Advisors Inc. bought a new stake in shares of Neurocrine Biosciences in the 1st quarter worth approximately $48,000. Institutional investors own 92.59% of the company’s stock.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 9,613 shares of the firm’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $120.38, for a total transaction of $1,157,212.94. Following the completion of the transaction, the director owned 514,596 shares of the company’s stock, valued at approximately $61,947,066.48. This trade represents a 1.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director William H. Rastetter sold 30,000 shares of the company’s stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $110.20, for a total transaction of $3,306,000.00. Following the completion of the sale, the director directly owned 37,491 shares in the company, valued at $4,131,508.20. This represents a 44.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.80% of the company’s stock.

Analysts Set New Price Targets

NBIX has been the subject of a number of research reports. Wall Street Zen cut shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 20th. Wedbush reissued an “outperform” rating on shares of Neurocrine Biosciences in a research note on Tuesday, May 6th. BMO Capital Markets upped their price target on shares of Neurocrine Biosciences from $96.00 to $115.00 and gave the company a “market perform” rating in a research report on Tuesday, May 6th. Needham & Company LLC lifted their price objective on Neurocrine Biosciences from $138.00 to $139.00 and gave the stock a “buy” rating in a report on Tuesday, May 6th. Finally, Canaccord Genuity Group boosted their target price on Neurocrine Biosciences from $158.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, Neurocrine Biosciences has an average rating of “Moderate Buy” and a consensus target price of $162.00.

Neurocrine Biosciences Trading Down 1.1%

Shares of NBIX opened at $128.04 on Friday. Neurocrine Biosciences, Inc. has a 1-year low of $84.23 and a 1-year high of $157.98. The firm has a market capitalization of $12.67 billion, a price-to-earnings ratio of 43.40, a PEG ratio of 1.33 and a beta of 0.24. The firm’s 50-day moving average price is $120.90 and its 200-day moving average price is $121.87.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its earnings results on Monday, May 5th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.62). Neurocrine Biosciences had a return on equity of 11.81% and a net margin of 12.68%. The firm had revenue of $572.60 million for the quarter, compared to analysts’ expectations of $587.06 million. During the same quarter last year, the company posted $1.20 EPS. The firm’s revenue was up 11.1% on a year-over-year basis. On average, research analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

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.