Public Employees Retirement System of Ohio Sells 6,046 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Public Employees Retirement System of Ohio trimmed its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 12.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,944 shares of the company's stock after selling 6,046 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Neurocrine Biosciences were worth $4,948,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Ashton Thomas Private Wealth LLC bought a new stake in Neurocrine Biosciences in the second quarter worth approximately $28,000. Innealta Capital LLC bought a new stake in Neurocrine Biosciences in the second quarter worth $30,000. EdgeRock Capital LLC acquired a new position in Neurocrine Biosciences during the second quarter worth $35,000. Blue Trust Inc. raised its holdings in Neurocrine Biosciences by 171.9% during the third quarter. Blue Trust Inc. now owns 348 shares of the company's stock valued at $40,000 after buying an additional 220 shares in the last quarter. Finally, Plato Investment Management Ltd lifted its position in shares of Neurocrine Biosciences by 44.1% in the second quarter. Plato Investment Management Ltd now owns 425 shares of the company's stock worth $59,000 after buying an additional 130 shares during the last quarter. Institutional investors own 92.59% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Royal Bank of Canada lowered their price objective on Neurocrine Biosciences from $136.00 to $133.00 and set a "sector perform" rating on the stock in a report on Friday, October 4th. Cantor Fitzgerald reissued an "overweight" rating and issued a $155.00 price target on shares of Neurocrine Biosciences in a research report on Monday, September 16th. Piper Sandler upgraded shares of Neurocrine Biosciences from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $131.00 to $159.00 in a research note on Thursday, August 29th. Jefferies Financial Group raised their target price on shares of Neurocrine Biosciences from $177.00 to $189.00 and gave the company a "buy" rating in a research note on Monday, August 19th. Finally, BMO Capital Markets cut their target price on shares of Neurocrine Biosciences from $128.00 to $114.00 and set a "market perform" rating for the company in a research report on Thursday, October 17th. Five equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Neurocrine Biosciences presently has an average rating of "Moderate Buy" and a consensus target price of $165.18.

Insider Activity at Neurocrine Biosciences

In related news, insider Jude Onyia sold 2,331 shares of the firm's stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $126.29, for a total value of $294,381.99. Following the completion of the sale, the insider now owns 15,449 shares of the company's stock, valued at $1,951,054.21. This trade represents a 13.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 4.30% of the stock is currently owned by insiders.

Neurocrine Biosciences Stock Performance

Shares of NBIX stock traded down $0.09 during mid-day trading on Friday, reaching $126.70. The company's stock had a trading volume of 781,662 shares, compared to its average volume of 866,688. The firm's 50-day moving average is $121.75 and its two-hundred day moving average is $130.62. The company has a market cap of $12.83 billion, a P/E ratio of 33.97 and a beta of 0.34. Neurocrine Biosciences, Inc. has a 1-year low of $110.95 and a 1-year high of $157.98.

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.