Teacher Retirement System of Texas Grows Stock Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Teacher Retirement System of Texas raised its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 14.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,812 shares of the company's stock after buying an additional 3,974 shares during the period. Teacher Retirement System of Texas' holdings in Neurocrine Biosciences were worth $4,206,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insiders Place Their Bets

In related news, insider Ingrid Delaet sold 272 shares of the firm's stock in a transaction dated 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 sale, the insider now owns 2,507 shares in the company, valued at $346,216.70. This trade represents a 9.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kevin Charles Gorman sold 146,105 shares of the business's stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $149.46, for a total value of $21,836,853.30. Following the transaction, the director now owns 514,596 shares in the company, valued at $76,911,518.16. The trade was a 22.11 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 233,178 shares of company stock valued at $33,906,594. 4.30% of the stock is owned by company insiders.

Remove Ads

Analysts Set New Price Targets

A number of analysts have recently weighed in on NBIX shares. HC Wainwright reaffirmed a "buy" rating and set a $185.00 price objective on shares of Neurocrine Biosciences in a research report on Friday, February 21st. William Blair reiterated an "outperform" rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. Royal Bank of Canada lowered their price objective on Neurocrine Biosciences from $154.00 to $148.00 and set a "sector perform" rating for the company in a research report on Friday, February 7th. Needham & Company LLC reiterated a "hold" rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. Finally, Barclays increased their price objective on shares of Neurocrine Biosciences from $160.00 to $165.00 and gave the company an "overweight" rating in a research report on Monday, December 23rd. Five research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $165.38.

Neurocrine Biosciences Stock Down 0.7 %

NASDAQ:NBIX traded down $0.84 during trading hours on Friday, reaching $113.16. 800,768 shares of the company's stock were exchanged, compared to its average volume of 981,987. Neurocrine Biosciences, Inc. has a 1-year low of $105.18 and a 1-year high of $157.98. The firm has a market capitalization of $11.28 billion, a price-to-earnings ratio of 34.40, a P/E/G ratio of 0.77 and a beta of 0.35. The company has a 50-day moving average of $124.77 and a 200 day moving average of $124.95.

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 analysts' consensus estimates of $1.62 by ($0.62). Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.38%. Research analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences announced that its board has authorized a share buyback plan on Friday, February 21st that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 4.2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board of directors believes its shares are undervalued.

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.