California Public Employees Retirement System Raises Stake in Neurocrine Biosciences, Inc. $NBIX

California Public Employees Retirement System increased its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 13.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 222,441 shares of the company’s stock after buying an additional 25,620 shares during the quarter. California Public Employees Retirement System’s holdings in Neurocrine Biosciences were worth $29,304,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. AQR Capital Management LLC raised its position in Neurocrine Biosciences by 18.0% during the 4th quarter. AQR Capital Management LLC now owns 3,271,706 shares of the company’s stock worth $462,652,000 after buying an additional 498,058 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Neurocrine Biosciences by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 2,059,282 shares of the company’s stock valued at $291,342,000 after acquiring an additional 34,457 shares during the last quarter. Los Angeles Capital Management LLC boosted its holdings in shares of Neurocrine Biosciences by 7.4% in the 4th quarter. Los Angeles Capital Management LLC now owns 1,291,278 shares of the company’s stock valued at $178,248,000 after acquiring an additional 88,522 shares during the last quarter. Northern Trust Corp increased its stake in shares of Neurocrine Biosciences by 31.9% in the fourth quarter. Northern Trust Corp now owns 1,221,184 shares of the company’s stock worth $173,201,000 after acquiring an additional 295,470 shares during the period. Finally, Deerfield Management Company L.P. increased its stake in shares of Neurocrine Biosciences by 1.4% in the third quarter. Deerfield Management Company L.P. now owns 1,184,345 shares of the company’s stock worth $166,258,000 after acquiring an additional 16,543 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Analysts Set New Price Targets

NBIX has been the subject of a number of research reports. Leerink Partners boosted their target price on shares of Neurocrine Biosciences from $160.00 to $170.00 and gave the company an “outperform” rating in a research report on Wednesday, April 22nd. Morgan Stanley upped their price target on shares of Neurocrine Biosciences from $185.00 to $191.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. Citigroup increased their price target on Neurocrine Biosciences from $242.00 to $246.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. HC Wainwright lifted their price objective on Neurocrine Biosciences from $192.00 to $215.00 and gave the company a “buy” rating in a research note on Tuesday, April 7th. Finally, Weiss Ratings cut Neurocrine Biosciences from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, July 10th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $194.05.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Julie Cooke sold 36,937 shares of Neurocrine Biosciences stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $156.22, for a total value of $5,770,298.14. Following the completion of the transaction, the insider owned 22,374 shares of the company’s stock, valued at approximately $3,495,266.28. The trade was a 62.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Darin Lippoldt sold 10,000 shares of the company’s stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $179.60, for a total transaction of $1,796,000.00. Following the completion of the transaction, the insider owned 54,729 shares of the company’s stock, valued at approximately $9,829,328.40. This trade represents a 15.45% 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 have sold 394,172 shares of company stock valued at $62,221,181 in the last quarter. 4.60% of the stock is currently owned by insiders.

Neurocrine Biosciences Price Performance

NBIX opened at $179.05 on Wednesday. The firm has a fifty day moving average price of $164.65 and a 200 day moving average price of $144.28. Neurocrine Biosciences, Inc. has a 1 year low of $122.14 and a 1 year high of $181.18. The stock has a market cap of $18.00 billion, a P/E ratio of 27.59, a P/E/G ratio of 0.69 and a beta of 0.39.

Neurocrine Biosciences Company 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.