Public Employees Retirement Association of Colorado Lowers Stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Public Employees Retirement Association of Colorado lessened its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 3.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,113 shares of the company’s stock after selling 447 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Neurocrine Biosciences were worth $1,530,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Norges Bank purchased a new position in shares of Neurocrine Biosciences in the 4th quarter worth about $35,731,000. The Manufacturers Life Insurance Company lifted its stake in shares of Neurocrine Biosciences by 18.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 116,955 shares of the company’s stock worth $15,410,000 after buying an additional 18,070 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Neurocrine Biosciences by 3.5% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 252,565 shares of the company’s stock valued at $34,834,000 after buying an additional 8,630 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Neurocrine Biosciences by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 9,710,328 shares of the company’s stock valued at $1,279,433,000 after acquiring an additional 150,485 shares in the last quarter. Finally, Perceptive Advisors LLC raised its holdings in Neurocrine Biosciences by 70.1% in the 4th quarter. Perceptive Advisors LLC now owns 270,794 shares of the company’s stock worth $35,680,000 after acquiring an additional 111,552 shares during the last quarter. Institutional investors own 92.59% of the company’s stock.

Insider Activity at Neurocrine Biosciences

In other news, insider Julie Cooke sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $140.19, for a total transaction of $1,401,900.00. Following the sale, the insider now directly owns 18,202 shares of the company’s stock, valued at approximately $2,551,738.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Neurocrine Biosciences news, Director Gary A. Lyons sold 11,570 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $150.43, for a total transaction of $1,740,475.10. Following the sale, the director now directly owns 119,047 shares of the company’s stock, valued at $17,908,240.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Julie Cooke sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $140.19, for a total value of $1,401,900.00. Following the completion of the sale, the insider now directly owns 18,202 shares of the company’s stock, valued at $2,551,738.38. The disclosure for this sale can be found here. Over the last three months, insiders sold 71,798 shares of company stock valued at $10,676,096. Insiders own 4.30% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Guggenheim lifted their target price on Neurocrine Biosciences from $170.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $155.00 price target on shares of Neurocrine Biosciences in a report on Monday, September 16th. Wedbush reissued an “outperform” rating and set a $152.00 price objective on shares of Neurocrine Biosciences in a report on Wednesday, May 29th. Robert W. Baird raised their target price on shares of Neurocrine Biosciences from $157.00 to $180.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, StockNews.com upgraded shares of Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 4th. Five equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Neurocrine Biosciences has a consensus rating of “Moderate Buy” and a consensus price target of $162.20.

Neurocrine Biosciences Price Performance

Neurocrine Biosciences stock opened at $117.75 on Tuesday. Neurocrine Biosciences, Inc. has a 1 year low of $103.63 and a 1 year high of $157.98. The firm’s 50 day moving average price is $137.89 and its 200-day moving average price is $138.09. The stock has a market cap of $11.85 billion, a P/E ratio of 32.44 and a beta of 0.37.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.52). The company had revenue of $590.20 million during the quarter, compared to analysts’ expectations of $545.98 million. Neurocrine Biosciences had a return on equity of 14.86% and a net margin of 16.00%. The firm’s revenue for the quarter was up 30.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.95 EPS. As a group, equities analysts expect that Neurocrine Biosciences, Inc. will post 4.19 EPS for the current 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.