Arizona State Retirement System Raises Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Arizona State Retirement System lifted its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 1.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,302 shares of the company’s stock after buying an additional 469 shares during the period. Arizona State Retirement System’s holdings in Neurocrine Biosciences were worth $4,000,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of NBIX. Assetmark Inc. boosted its stake in shares of Neurocrine Biosciences by 10.6% in the 3rd quarter. Assetmark Inc. now owns 18,323 shares of the company’s stock worth $2,111,000 after buying an additional 1,753 shares during the last quarter. 17 Capital Partners LLC boosted its stake in shares of Neurocrine Biosciences by 97.2% in the 3rd quarter. 17 Capital Partners LLC now owns 5,846 shares of the company’s stock worth $674,000 after buying an additional 2,881 shares during the last quarter. Covestor Ltd boosted its stake in shares of Neurocrine Biosciences by 11.5% in the 3rd quarter. Covestor Ltd now owns 1,779 shares of the company’s stock worth $205,000 after buying an additional 183 shares during the last quarter. Sigma Planning Corp purchased a new position in shares of Neurocrine Biosciences in the 3rd quarter worth $230,000. Finally, Crossmark Global Holdings Inc. boosted its stake in shares of Neurocrine Biosciences by 16.5% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 8,487 shares of the company’s stock worth $978,000 after buying an additional 1,204 shares during the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on NBIX shares. Guggenheim dropped their price target on Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Canaccord Genuity Group decreased their target price on Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating on the stock in a report on Friday, February 7th. StockNews.com cut Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 18th. Needham & Company LLC reaffirmed a “hold” rating on shares of Neurocrine Biosciences in a report on Friday, February 7th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $150.00 target price (down from $185.00) on shares of Neurocrine Biosciences in a report on Friday. Five analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $165.24.

Insider Transactions at Neurocrine Biosciences

In other news, insider Ingrid Delaet sold 1,091 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $135.00, for a total value of $147,285.00. Following the sale, the insider now directly owns 2,507 shares of the company’s stock, valued at approximately $338,445. The trade was a 30.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Julie Cooke sold 1,740 shares of Neurocrine Biosciences stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $152.89, for a total value of $266,028.60. Following the completion of the transaction, the insider now owns 18,202 shares of the company’s stock, valued at approximately $2,782,903.78. This represents a 8.73 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 234,269 shares of company stock valued at $34,053,879. 4.30% of the stock is currently owned by insiders.

Neurocrine Biosciences Trading Up 0.3 %

Shares of NBIX stock opened at $113.04 on Friday. Neurocrine Biosciences, Inc. has a 12-month low of $110.25 and a 12-month high of $157.98. The stock’s 50-day moving average price is $132.47 and its 200-day moving average price is $127.19. The stock has a market capitalization of $11.27 billion, a price-to-earnings ratio of 34.36, a price-to-earnings-growth ratio of 0.77 and a beta of 0.35.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its earnings results on Thursday, February 6th. The company reported $1.00 earnings per share (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%. As a group, research analysts predict that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences declared that its board has approved a stock buyback program on Friday, February 21st that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to buy up to 4.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

About Neurocrine Biosciences

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.