California State Teachers Retirement System Acquires 23,114,738 Shares of Neurocrine Biosciences, Inc. $NBIX

California State Teachers Retirement System grew its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 17,426.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,247,381 shares of the company’s stock after buying an additional 23,114,738 shares during the quarter. California State Teachers Retirement System owned 0.23% of Neurocrine Biosciences worth $3,918,114,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Geneos Wealth Management Inc. grew its position in Neurocrine Biosciences by 143.6% in the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after acquiring an additional 135 shares in the last quarter. DJE Kapital AG bought a new stake in Neurocrine Biosciences during the fourth quarter worth approximately $28,000. Basecamp Wealth Advisors LLC raised its position in Neurocrine Biosciences by 582.9% during the first quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company’s stock valued at $31,000 after purchasing an additional 204 shares during the period. Cassaday & Co Wealth Management LLC purchased a new stake in Neurocrine Biosciences during the first quarter valued at approximately $33,000. Finally, Meeder Asset Management Inc. lifted its stake in shares of Neurocrine Biosciences by 651.6% in the 4th quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock valued at $33,000 after purchasing an additional 202 shares during the last quarter. Institutional investors own 92.59% of the company’s stock.

Analyst Upgrades and Downgrades

NBIX has been the subject of a number of recent research reports. Canaccord Genuity Group lifted their target price on Neurocrine Biosciences from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. TD Cowen increased their price target on Neurocrine Biosciences from $200.00 to $220.00 and gave the company a “buy” rating in a report on Friday, July 31st. Needham & Company LLC raised their price target on Neurocrine Biosciences from $200.00 to $204.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Stifel Nicolaus raised their price target on Neurocrine Biosciences from $188.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Finally, Wells Fargo & Company lifted their price objective on shares of Neurocrine Biosciences from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $201.05.

Insider Buying and Selling

In related news, Director Leslie V. Norwalk sold 1,250 shares of the business’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $182.01, for a total transaction of $227,512.50. Following the completion of the transaction, the director owned 1,588 shares in the company, valued at $289,031.88. The trade was a 44.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ingrid Delaet sold 4,367 shares of the business’s stock in a transaction on Friday, July 10th. The shares were sold at an average price of $181.02, for a total value of $790,514.34. Following the transaction, the insider owned 16,225 shares of the company’s stock, valued at approximately $2,937,049.50. The trade was a 21.21% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 40,188 shares of company stock valued at $7,118,633. Insiders own 4.60% of the company’s stock.

Neurocrine Biosciences Price Performance

Shares of NASDAQ NBIX opened at $156.57 on Friday. The company has a market cap of $15.92 billion, a P/E ratio of 22.96, a PEG ratio of 0.73 and a beta of 0.38. Neurocrine Biosciences, Inc. has a 1 year low of $122.14 and a 1 year high of $186.12. The firm has a 50-day simple moving average of $164.82 and a two-hundred day simple moving average of $151.22.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results on Friday, July 31st. The company reported $2.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $1.20. The business had revenue of $959.00 million during the quarter, compared to analyst estimates of $891.16 million. Neurocrine Biosciences had a return on equity of 22.43% and a net margin of 20.91%.The company’s revenue for the quarter was up 39.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.65 earnings per share. As a group, equities research analysts expect that Neurocrine Biosciences, Inc. will post 7.25 EPS for the current year.

Neurocrine Biosciences Profile

Neurocrine Biosciences, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for neurological, neuroendocrine and psychiatric disorders. The company develops therapies for conditions with significant unmet medical needs, using expertise in neuroscience and endocrine biology.

Its primary commercial product is INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor approved in the United States for the treatment of tardive dyskinesia and chorea associated with Huntington’s disease.