Retirement Systems of Alabama Acquires 1,128 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Retirement Systems of Alabama increased its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 0.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 123,056 shares of the company’s stock after purchasing an additional 1,128 shares during the period. Retirement Systems of Alabama owned 0.13% of Neurocrine Biosciences worth $16,214,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sunbelt Securities Inc. boosted its holdings in shares of Neurocrine Biosciences by 34.3% during the third quarter. Sunbelt Securities Inc. now owns 325 shares of the company’s stock worth $37,000 after acquiring an additional 83 shares during the period. Lindbrook Capital LLC raised its position in shares of Neurocrine Biosciences by 85.0% in the fourth quarter. Lindbrook Capital LLC now owns 209 shares of the company’s stock valued at $28,000 after buying an additional 96 shares in the last quarter. Red Spruce Capital LLC raised its position in shares of Neurocrine Biosciences by 0.6% in the fourth quarter. Red Spruce Capital LLC now owns 16,026 shares of the company’s stock valued at $2,112,000 after buying an additional 101 shares in the last quarter. Metis Global Partners LLC raised its position in shares of Neurocrine Biosciences by 4.7% in the third quarter. Metis Global Partners LLC now owns 2,361 shares of the company’s stock valued at $266,000 after buying an additional 106 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. raised its position in shares of Neurocrine Biosciences by 3.6% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,048 shares of the company’s stock valued at $402,000 after buying an additional 107 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.

Insider Buying and Selling

In related news, insider Eric Benevich sold 19,818 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $133.36, for a total value of $2,642,928.48. Following the sale, the insider now owns 40,778 shares in the company, valued at approximately $5,438,154.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Neurocrine Biosciences news, Director George J. Morrow sold 40,000 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $139.42, for a total value of $5,576,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eric Benevich sold 19,818 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $133.36, for a total transaction of $2,642,928.48. Following the completion of the sale, the insider now owns 40,778 shares of the company’s stock, valued at approximately $5,438,154.08. The disclosure for this sale can be found here. Insiders have sold 181,547 shares of company stock worth $25,039,887 in the last quarter. Insiders own 4.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on NBIX shares. JPMorgan Chase & Co. lifted their price target on shares of Neurocrine Biosciences from $148.00 to $158.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. Mizuho lifted their price target on shares of Neurocrine Biosciences from $116.00 to $140.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. Wedbush reiterated an “outperform” rating and issued a $147.00 price target on shares of Neurocrine Biosciences in a research report on Wednesday, April 17th. Barclays lifted their price target on shares of Neurocrine Biosciences from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Tuesday, January 23rd. Finally, Citigroup dropped their price target on shares of Neurocrine Biosciences from $141.00 to $140.00 and set a “neutral” rating for the company in a research report on Thursday, February 8th. Six analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $142.38.

Neurocrine Biosciences Trading Down 1.0 %

Shares of NASDAQ NBIX opened at $137.54 on Wednesday. The firm’s 50-day moving average price is $136.86 and its 200-day moving average price is $128.41. Neurocrine Biosciences, Inc. has a 1-year low of $89.04 and a 1-year high of $148.37. The firm has a market capitalization of $13.69 billion, a P/E ratio of 56.83 and a beta of 0.25.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its earnings results on Wednesday, February 7th. The company reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.31. Neurocrine Biosciences had a net margin of 13.23% and a return on equity of 12.85%. The company had revenue of $515.20 million for the quarter, compared to analyst estimates of $518.52 million. During the same quarter in the prior year, the business posted $0.88 EPS. The firm’s revenue was up 25.0% compared to the same quarter last year. Equities research analysts forecast that Neurocrine Biosciences, Inc. will post 4.8 EPS for the current year.

About Neurocrine Biosciences

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.