Public Employees Retirement System of Ohio Invests $4.84 Million in Neurocrine Biosciences, Inc. $NBIX

Public Employees Retirement System of Ohio purchased a new stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 28,709 shares of the company’s stock, valued at approximately $4,838,000.

Other large investors have also made changes to their positions in the company. Bank of America Corp DE lifted its stake in Neurocrine Biosciences by 10.6% in the first quarter. Bank of America Corp DE now owns 583,827 shares of the company’s stock valued at $76,913,000 after acquiring an additional 55,723 shares during the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in shares of Neurocrine Biosciences during the 4th quarter worth $1,866,000. ABN AMRO Bank N.V. acquired a new position in shares of Neurocrine Biosciences during the 2nd quarter worth $2,510,000. Wesbanco Bank Inc. raised its holdings in shares of Neurocrine Biosciences by 88.9% during the 4th quarter. Wesbanco Bank Inc. now owns 17,000 shares of the company’s stock valued at $2,411,000 after purchasing an additional 8,000 shares in the last quarter. Finally, SEB Asset Management AB bought a new stake in Neurocrine Biosciences in the first quarter worth $10,483,000. Institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Stock Up 0.7%

Shares of NASDAQ:NBIX opened at $157.79 on Thursday. The company has a market cap of $16.04 billion, a price-to-earnings ratio of 23.14, a PEG ratio of 0.73 and a beta of 0.38. The business has a 50 day moving average price of $166.36 and a 200 day moving average price of $150.00. Neurocrine Biosciences, Inc. has a twelve month low of $122.14 and a twelve month high of $186.12.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Friday, July 31st. The company reported $2.85 EPS for the quarter, topping the consensus estimate of $1.65 by $1.20. Neurocrine Biosciences had a return on equity of 22.43% and a net margin of 20.91%.The company had revenue of $959.00 million for the quarter, compared to the consensus estimate of $891.16 million. During the same period in the previous year, the business posted $1.65 EPS. The company’s revenue for the quarter was up 39.5% on a year-over-year basis. Analysts anticipate that Neurocrine Biosciences, Inc. will post 7.25 EPS for the current year.

Insider Activity at Neurocrine Biosciences

In other news, insider Ingrid Delaet sold 4,367 shares of the company’s stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $181.02, for a total transaction of $790,514.34. Following the completion of the transaction, the insider owned 16,225 shares of the company’s stock, valued at approximately $2,937,049.50. This represents a 21.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephen A. Sherwin sold 25,000 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $165.32, for a total transaction of $4,133,000.00. Following the completion of the sale, the director owned 15,860 shares of the company’s stock, valued at approximately $2,621,975.20. The trade was a 61.18% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 65,188 shares of company stock valued at $11,251,633 in the last quarter. Company insiders own 4.60% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Needham & Company LLC raised their target price on Neurocrine Biosciences from $200.00 to $204.00 and gave the company a “buy” rating in a report on Friday, July 31st. TD Cowen increased their price objective on Neurocrine Biosciences from $200.00 to $220.00 and gave the company a “buy” rating in a report on Friday, July 31st. Cantor Fitzgerald raised their price objective on Neurocrine Biosciences from $210.00 to $215.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Wells Fargo & Company upped their target price on Neurocrine Biosciences from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, July 17th. Finally, Piper Sandler boosted their price objective on shares of Neurocrine Biosciences from $207.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $200.86.

Neurocrine Biosciences Profile

Neurocrine Biosciences (NASDAQ: NBIX) is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research?driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine’s operations encompass drug discovery, clinical development and commercialization activities.

The company’s lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.