New York State Teachers Retirement System Lowers Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

New York State Teachers Retirement System lowered its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 3.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,536 shares of the company's stock after selling 4,514 shares during the period. New York State Teachers Retirement System owned 0.11% of Neurocrine Biosciences worth $15,088,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NBIX. State Street Corp boosted its position in Neurocrine Biosciences by 11.7% during the 3rd quarter. State Street Corp now owns 5,148,293 shares of the company's stock worth $593,186,000 after buying an additional 539,936 shares during the period. Jennison Associates LLC raised its stake in shares of Neurocrine Biosciences by 145.1% during the fourth quarter. Jennison Associates LLC now owns 820,694 shares of the company's stock valued at $112,025,000 after acquiring an additional 485,894 shares during the last quarter. Los Angeles Capital Management LLC lifted its holdings in shares of Neurocrine Biosciences by 639.6% during the third quarter. Los Angeles Capital Management LLC now owns 420,748 shares of the company's stock worth $48,479,000 after purchasing an additional 363,863 shares during the period. Braidwell LP grew its stake in shares of Neurocrine Biosciences by 20.9% in the third quarter. Braidwell LP now owns 917,674 shares of the company's stock worth $105,734,000 after purchasing an additional 158,665 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of Neurocrine Biosciences by 23.9% in the third quarter. BNP Paribas Financial Markets now owns 533,324 shares of the company's stock worth $61,450,000 after purchasing an additional 102,715 shares during the last quarter. Institutional investors own 92.59% of the company's stock.

Insider Buying and Selling

In related news, insider Ingrid Delaet sold 272 shares of Neurocrine Biosciences stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $138.10, for a total value of $37,563.20. Following the completion of the transaction, the insider now directly owns 2,507 shares in the company, valued at approximately $346,216.70. The trade was a 9.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kyle Gano sold 65,000 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $141.50, for a total value of $9,197,500.00. Following the sale, the chief executive officer now owns 135,392 shares in the company, valued at approximately $19,157,968. This represents a 32.44 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 236,600 shares of company stock valued at $34,348,261. 4.30% of the stock is owned by insiders.

Neurocrine Biosciences Price Performance

Shares of Neurocrine Biosciences stock traded up $1.85 on Thursday, reaching $116.11. 1,182,876 shares of the company traded hands, compared to its average volume of 1,321,372. The company has a 50 day moving average of $136.97 and a 200 day moving average of $129.81. Neurocrine Biosciences, Inc. has a 52 week low of $110.95 and a 52 week high of $157.98. The firm has a market capitalization of $11.58 billion, a PE ratio of 35.29, a PEG ratio of 0.77 and a beta of 0.33.

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

Analysts Set New Price Targets

Several research analysts have commented on NBIX shares. Barclays lifted their target price on Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an "overweight" rating in a report on Monday, December 23rd. Wedbush dropped their price objective on Neurocrine Biosciences from $157.00 to $147.00 and set an "outperform" rating on the stock in a research note on Friday, February 7th. Piper Sandler reaffirmed an "overweight" rating and set a $160.00 target price on shares of Neurocrine Biosciences in a research note on Monday, December 23rd. HC Wainwright dropped their price target on Neurocrine Biosciences from $190.00 to $185.00 and set a "buy" rating on the stock in a research note on Friday, February 7th. Finally, Canaccord Genuity Group reduced their price objective on shares of Neurocrine Biosciences from $172.00 to $163.00 and set a "buy" rating for the company in a research report on Friday, February 7th. Five equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $166.90.

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.