California Public Employees Retirement System Sells 9,056 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

California Public Employees Retirement System trimmed its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 2.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 453,091 shares of the company's stock after selling 9,056 shares during the quarter. California Public Employees Retirement System owned 0.45% of Neurocrine Biosciences worth $61,847,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Caprock Group LLC acquired a new stake in Neurocrine Biosciences during the fourth quarter valued at approximately $236,000. Charles Schwab Investment Management Inc. lifted its position in shares of Neurocrine Biosciences by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 762,557 shares of the company's stock worth $104,089,000 after buying an additional 15,266 shares during the period. Tri Ri Asset Management Corp acquired a new stake in Neurocrine Biosciences in the 3rd quarter valued at $3,236,000. Oakworth Capital Inc. bought a new stake in Neurocrine Biosciences in the fourth quarter valued at $379,000. Finally, Synergy Asset Management LLC acquired a new position in Neurocrine Biosciences during the fourth quarter worth $996,000. 92.59% of the stock is owned by institutional investors.

Neurocrine Biosciences Price Performance

NASDAQ:NBIX traded down $7.23 during trading hours on Friday, reaching $95.65. 2,452,044 shares of the stock were exchanged, compared to its average volume of 1,000,883. The stock has a market cap of $9.54 billion, a PE ratio of 29.07, a PEG ratio of 0.77 and a beta of 0.33. Neurocrine Biosciences, Inc. has a twelve month low of $93.59 and a twelve month high of $157.98. The firm has a 50 day moving average of $120.01 and a 200 day moving average of $124.37.

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Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last announced its earnings results on Thursday, February 6th. The company reported $1.00 EPS for the quarter, missing the consensus estimate of $1.62 by ($0.62). Neurocrine Biosciences had a return on equity of 13.38% and a net margin of 14.49%. Equities research analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Neurocrine Biosciences declared that its board has approved a share repurchase program on Friday, February 21st that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to reacquire up to 4.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NBIX. Royal Bank of Canada reduced their target price on shares of Neurocrine Biosciences from $154.00 to $148.00 and set a "sector perform" rating on the stock in a research note on Friday, February 7th. Guggenheim decreased their price objective on shares of Neurocrine Biosciences from $165.00 to $163.00 and set a "buy" rating on the stock in a research note on Monday, February 10th. Barclays raised their price objective on shares of Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an "overweight" rating in a report on Monday, December 23rd. HC Wainwright restated a "buy" rating and set a $185.00 price target on shares of Neurocrine Biosciences in a research report on Friday, February 21st. Finally, Bank of America cut their price objective on Neurocrine Biosciences from $184.00 to $179.00 and set a "buy" rating for the company in a research report on Friday, February 7th. Five analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $163.52.

Insider Activity

In other Neurocrine Biosciences news, insider Ingrid Delaet sold 623 shares of the company's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $149.29, for a total transaction of $93,007.67. Following the sale, the insider now directly owns 3,442 shares of the company's stock, valued at approximately $513,856.18. This represents a 15.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Kyle Gano sold 65,000 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $141.50, for a total transaction of $9,197,500.00. Following the completion of the sale, the chief executive officer now owns 135,392 shares of the company's stock, valued at approximately $19,157,968. This represents a 32.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 232,906 shares of company stock worth $33,869,030 in the last quarter. Corporate insiders own 4.30% of the company's stock.

Neurocrine Biosciences 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.