Teachers Retirement System of The State of Kentucky Boosts Stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Teachers Retirement System of The State of Kentucky raised its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 84.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,120 shares of the company’s stock after purchasing an additional 25,720 shares during the quarter. Teachers Retirement System of The State of Kentucky owned 0.06% of Neurocrine Biosciences worth $7,661,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Neurocrine Biosciences by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 10,119,641 shares of the company’s stock valued at $1,381,331,000 after buying an additional 122,681 shares in the last quarter. Dodge & Cox raised its position in shares of Neurocrine Biosciences by 134.2% during the 4th quarter. Dodge & Cox now owns 3,016,425 shares of the company’s stock valued at $411,742,000 after acquiring an additional 1,728,605 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Neurocrine Biosciences by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 1,875,062 shares of the company’s stock worth $255,523,000 after buying an additional 15,830 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Neurocrine Biosciences by 102.9% in the fourth quarter. Wellington Management Group LLP now owns 1,457,425 shares of the company’s stock worth $198,939,000 after acquiring an additional 739,199 shares during the last quarter. Finally, Invesco Ltd. boosted its position in Neurocrine Biosciences by 8.6% during the 4th quarter. Invesco Ltd. now owns 949,512 shares of the company’s stock valued at $129,608,000 after purchasing an additional 74,847 shares during the period. 92.59% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Neurocrine Biosciences

In other news, CFO Matt Abernethy sold 1,283 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of $152.87, for a total transaction of $196,132.21. Following the transaction, the chief financial officer now owns 32,681 shares in the company, valued at $4,995,944.47. This represents a 3.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kevin Charles Gorman sold 146,105 shares of Neurocrine Biosciences stock in a transaction on Monday, January 27th. The shares were sold at an average price of $149.46, for a total transaction of $21,836,853.30. Following the completion of the sale, the director now directly owns 514,596 shares of the company’s stock, 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 167,906 shares of company stock valued at $24,671,530 in the last quarter. Company insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Stock Down 0.7 %

Shares of Neurocrine Biosciences stock opened at $100.68 on Tuesday. Neurocrine Biosciences, Inc. has a 12 month low of $84.23 and a 12 month high of $157.98. The stock has a market cap of $9.96 billion, a PE ratio of 30.60, a price-to-earnings-growth ratio of 0.77 and a beta of 0.33. The business has a fifty day simple moving average of $108.02 and a 200-day simple moving average of $122.44.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly 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%. Analysts expect that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences declared that its Board of Directors has authorized a share buyback plan on Friday, February 21st that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 4.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. UBS Group dropped their price target on shares of Neurocrine Biosciences from $154.00 to $137.00 and set a “buy” rating on the stock in a research note on Friday, April 4th. Bank of America cut their target price on Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Barclays increased their price target on Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, December 23rd. HC Wainwright restated a “buy” rating and set a $185.00 price objective on shares of Neurocrine Biosciences in a research note on Friday, February 21st. Finally, Royal Bank of Canada raised shares of Neurocrine Biosciences from a “sector perform” rating to an “outperform” rating and reduced their price objective for the stock from $138.00 to $137.00 in a report on Monday, April 14th. Three investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $161.86.

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.