Commonwealth of Pennsylvania Public School Empls Retrmt SYS Purchases 103 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 0.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,361 shares of the company’s stock after purchasing an additional 103 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Neurocrine Biosciences were worth $3,052,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Quest Partners LLC boosted its stake in shares of Neurocrine Biosciences by 674.9% in the third quarter. Quest Partners LLC now owns 3,495 shares of the company’s stock worth $403,000 after acquiring an additional 3,044 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Neurocrine Biosciences in the 3rd quarter worth approximately $553,000. Commerce Bank grew its holdings in Neurocrine Biosciences by 2.6% during the 3rd quarter. Commerce Bank now owns 4,199 shares of the company’s stock valued at $484,000 after buying an additional 108 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Neurocrine Biosciences by 670.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 17,186 shares of the company’s stock valued at $1,980,000 after buying an additional 14,956 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Neurocrine Biosciences by 4.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 163,054 shares of the company’s stock worth $18,787,000 after buying an additional 7,069 shares in the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

Neurocrine Biosciences Price Performance

NBIX stock opened at $115.60 on Tuesday. The company has a market capitalization of $11.53 billion, a PE ratio of 35.14, a P/E/G ratio of 0.77 and a beta of 0.35. The firm’s 50-day moving average is $126.35 and its 200 day moving average is $125.13. Neurocrine Biosciences, Inc. has a 12 month low of $105.18 and a 12 month high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data 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%. Sell-side analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences declared that its Board of Directors has initiated a share repurchase program on Friday, February 21st that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 4.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Neurocrine Biosciences

In other news, insider Ingrid Delaet sold 272 shares of the business’s stock in a transaction on Tuesday, December 31st. The stock was 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 of the company’s stock, valued at approximately $346,216.70. The trade was a 9.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kevin Charles Gorman sold 146,105 shares of the firm’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $149.46, for a total value of $21,836,853.30. Following the sale, the director now directly owns 514,596 shares in the company, valued at approximately $76,911,518.16. The trade was a 22.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 233,178 shares of company stock worth $33,906,594 over the last three months. 4.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

NBIX has been the subject of several research analyst reports. 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. William Blair restated an “outperform” rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. UBS Group boosted their target price on Neurocrine Biosciences from $162.00 to $176.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Royal Bank of Canada cut their price target on Neurocrine Biosciences from $154.00 to $148.00 and set a “sector perform” rating for the company in a report on Friday, February 7th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $150.00 price objective (down from $185.00) on shares of Neurocrine Biosciences in a report on Friday, March 7th. Five equities research 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. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $165.24.

Neurocrine Biosciences Company 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.