Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas increased its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 14.8% in the 4th quarter, Holdings Channel reports. The firm owned 30,812 shares of the company’s stock after purchasing an additional 3,974 shares during the period. Teacher Retirement System of Texas’ holdings in Neurocrine Biosciences were worth $4,206,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Golden State Wealth Management LLC acquired a new position in shares of Neurocrine Biosciences during the fourth quarter valued at approximately $25,000. Brooklyn Investment Group increased 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 worth $32,000 after purchasing an additional 115 shares in the last quarter. Lindbrook Capital LLC raised its stake in Neurocrine Biosciences by 53.5% in the 4th quarter. Lindbrook Capital LLC now owns 373 shares of the company’s stock valued at $51,000 after purchasing an additional 130 shares during the last quarter. R Squared Ltd purchased a new position in Neurocrine Biosciences in the 4th quarter valued at $61,000. Finally, UMB Bank n.a. boosted its stake in Neurocrine Biosciences by 211.6% during the 4th quarter. UMB Bank n.a. now owns 455 shares of the company’s stock worth $62,000 after purchasing an additional 309 shares during the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Matt Abernethy sold 1,283 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $152.87, for a total transaction of $196,132.21. Following the transaction, the chief financial officer now directly owns 32,681 shares of the company’s stock, valued at approximately $4,995,944.47. The trade was a 3.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Kevin Charles Gorman sold 2,707 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $152.92, for a total value of $413,954.44. Following the sale, the director now owns 517,030 shares of the company’s stock, valued at $79,064,227.60. This represents a 0.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 233,178 shares of company stock valued at $33,906,594. Company insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Price Performance

Neurocrine Biosciences stock opened at $115.60 on Tuesday. The stock has a market cap of $11.53 billion, a PE ratio of 35.14, a P/E/G ratio of 0.77 and a beta of 0.35. The stock’s fifty day moving average is $126.35 and its two-hundred day moving average is $125.13. Neurocrine Biosciences, Inc. has a 1-year low of $105.18 and a 1-year high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data 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 net margin of 14.49% and a return on equity of 13.38%. On average, research analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Neurocrine Biosciences declared that its board has approved a share repurchase program on Friday, February 21st that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to buy up to 4.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on NBIX shares. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Neurocrine Biosciences in a research note on Tuesday, February 11th. They issued a “hold” rating and a $138.00 price target on the stock. Barclays raised their target price on shares of Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, December 23rd. Morgan Stanley restated an “overweight” rating and issued a $150.00 price target (down from $185.00) on shares of Neurocrine Biosciences in a research report on Friday, March 7th. Guggenheim lowered their price objective on Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Finally, William Blair reaffirmed an “outperform” rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. Five equities 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 MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $165.24.

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.