State of New Jersey Common Pension Fund D Reduces Stake in Neurocrine Biosciences, Inc. $NBIX

State of New Jersey Common Pension Fund D lowered its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 0.8% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 33,974 shares of the company’s stock after selling 260 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Neurocrine Biosciences were worth $4,270,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Neurocrine Biosciences by 1.7% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 235,488 shares of the company’s stock valued at $29,598,000 after purchasing an additional 4,030 shares during the last quarter. Aurora Investment Counsel grew its stake in shares of Neurocrine Biosciences by 4.8% in the 2nd quarter. Aurora Investment Counsel now owns 11,027 shares of the company’s stock valued at $1,386,000 after purchasing an additional 507 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of Neurocrine Biosciences in the 2nd quarter valued at approximately $220,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Neurocrine Biosciences in the 2nd quarter valued at approximately $10,699,000. Finally, Stanley Laman Group Ltd. grew its stake in shares of Neurocrine Biosciences by 30.2% in the 2nd quarter. Stanley Laman Group Ltd. now owns 42,521 shares of the company’s stock valued at $5,344,000 after purchasing an additional 9,862 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Stock Up 3.4%

NBIX opened at $148.94 on Tuesday. The company has a market cap of $14.77 billion, a price-to-earnings ratio of 44.07, a PEG ratio of 0.98 and a beta of 0.21. Neurocrine Biosciences, Inc. has a 52-week low of $84.23 and a 52-week high of $154.61. The firm’s fifty day simple moving average is $140.25 and its two-hundred day simple moving average is $128.40.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.08. The business had revenue of $687.50 million for the quarter, compared to the consensus estimate of $653.09 million. Neurocrine Biosciences had a net margin of 13.88% and a return on equity of 13.22%. The company’s revenue was up 16.5% compared to the same quarter last year. During the same period last year, the firm posted $1.63 earnings per share. On average, research analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on NBIX shares. Guggenheim lifted their target price on Neurocrine Biosciences from $165.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Weiss Ratings restated a “hold (c+)” rating on shares of Neurocrine Biosciences in a research note on Wednesday, October 8th. Wedbush restated an “outperform” rating on shares of Neurocrine Biosciences in a research note on Monday, September 22nd. Needham & Company LLC lifted their price target on Neurocrine Biosciences from $161.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. Finally, Citigroup assumed coverage on Neurocrine Biosciences in a research note on Tuesday, October 21st. They issued a “buy” rating and a $175.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.32.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 106,322 shares of the stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $126.41, for a total transaction of $13,440,164.02. Following the transaction, the director directly owned 514,596 shares of the company’s stock, valued at $65,050,080.36. This trade represents a 17.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.30% of the stock is currently owned by insiders.

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.