VIRGINIA RETIREMENT SYSTEMS ET Al Takes $41.45 Million Position in Neurocrine Biosciences, Inc. $NBIX

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 245,923 shares of the company’s stock, valued at approximately $41,447,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.24% of Neurocrine Biosciences as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Geneos Wealth Management Inc. increased its position in shares of Neurocrine Biosciences by 143.6% during the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after purchasing an additional 135 shares in the last quarter. DJE Kapital AG acquired a new stake in shares of Neurocrine Biosciences in the 4th quarter worth $28,000. Basecamp Wealth Advisors LLC boosted its position in shares of Neurocrine Biosciences by 582.9% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company’s stock worth $31,000 after purchasing an additional 204 shares in the last quarter. Cassaday & Co Wealth Management LLC purchased a new position in Neurocrine Biosciences during the 1st quarter worth $33,000. Finally, Meeder Asset Management Inc. grew its stake in Neurocrine Biosciences by 651.6% during the 4th quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock worth $33,000 after buying an additional 202 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Insider Activity at Neurocrine Biosciences

In related news, insider Ingrid Delaet sold 8,433 shares of the company’s stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $178.72, for a total value of $1,507,145.76. Following the completion of the transaction, the insider owned 16,225 shares of the company’s stock, valued at approximately $2,899,732. This represents a 34.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Darin Lippoldt sold 10,000 shares of the company’s stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $179.60, for a total value of $1,796,000.00. Following the completion of the transaction, the insider directly owned 54,729 shares of the company’s stock, valued at $9,829,328.40. The trade was a 15.45% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 40,188 shares of company stock worth $7,118,633 in the last 90 days. Corporate insiders own 4.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Needham & Company LLC increased their price target on Neurocrine Biosciences from $200.00 to $204.00 and gave the company a “buy” rating in a research note on Friday, July 31st. The Goldman Sachs Group began coverage on Neurocrine Biosciences in a research note on Tuesday, June 2nd. They set a “buy” rating and a $213.00 price target on the stock. TD Cowen upped their price target on shares of Neurocrine Biosciences from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Citigroup upped their target price on Neurocrine Biosciences from $249.00 to $253.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Wells Fargo & Company lifted their price target on Neurocrine Biosciences from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $201.05.

Neurocrine Biosciences Stock Performance

NBIX stock opened at $155.64 on Monday. The firm has a market cap of $15.82 billion, a PE ratio of 22.82, a P/E/G ratio of 0.73 and a beta of 0.38. The firm’s fifty day moving average is $165.98 and its 200 day moving average is $150.46. Neurocrine Biosciences, Inc. has a one year low of $122.14 and a one year high of $186.12.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings data on Friday, July 31st. The company reported $2.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $1.20. Neurocrine Biosciences had a net margin of 20.91% and a return on equity of 22.43%. The business had revenue of $959.00 million during the quarter, compared to the consensus estimate of $891.16 million. During the same quarter in the prior year, the firm posted $1.65 earnings per share. The company’s revenue was up 39.5% compared to the same quarter last year. Research analysts predict that Neurocrine Biosciences, Inc. will post 7.25 earnings per share for the current fiscal year.

Neurocrine Biosciences Profile

Neurocrine Biosciences (NASDAQ: NBIX) is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research‐driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine’s operations encompass drug discovery, clinical development and commercialization activities.

The company’s lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.