Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Shares Bought by State of Michigan Retirement System

State of Michigan Retirement System lifted its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 3.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,481 shares of the company’s stock after purchasing an additional 900 shares during the period. State of Michigan Retirement System’s holdings in Neurocrine Biosciences were worth $3,376,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Mather Group LLC. purchased a new stake in Neurocrine Biosciences in the 1st quarter valued at $26,000. Headinvest LLC purchased a new position in Neurocrine Biosciences during the third quarter worth about $28,000. Lindbrook Capital LLC raised its position in Neurocrine Biosciences by 85.0% in the fourth quarter. Lindbrook Capital LLC now owns 209 shares of the company’s stock valued at $28,000 after purchasing an additional 96 shares during the period. EdgeRock Capital LLC purchased a new position in shares of Neurocrine Biosciences during the 4th quarter worth approximately $31,000. Finally, Benjamin F. Edwards & Company Inc. acquired a new stake in Neurocrine Biosciences in the 4th quarter valued at approximately $33,000. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Neurocrine Biosciences

In related news, insider Eric Benevich sold 19,818 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $133.36, for a total transaction of $2,642,928.48. Following the completion of the sale, the insider now directly owns 40,778 shares of the company’s stock, valued at $5,438,154.08. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Ingrid Delaet sold 273 shares of Neurocrine Biosciences stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $140.55, for a total value of $38,370.15. Following the sale, the insider now directly owns 7,507 shares in the company, valued at $1,055,108.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Eric Benevich sold 19,818 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $133.36, for a total value of $2,642,928.48. Following the completion of the transaction, the insider now owns 40,778 shares of the company’s stock, valued at approximately $5,438,154.08. The disclosure for this sale can be found here. Insiders have sold 98,697 shares of company stock worth $13,377,515 in the last quarter. Company insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Trading Down 1.9 %

Shares of NBIX opened at $137.49 on Wednesday. The company’s 50 day simple moving average is $137.42 and its 200-day simple moving average is $136.06. The firm has a market cap of $13.84 billion, a PE ratio of 37.88 and a beta of 0.37. Neurocrine Biosciences, Inc. has a 12-month low of $93.28 and a 12-month high of $148.37.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.62). Neurocrine Biosciences had a net margin of 18.65% and a return on equity of 17.45%. The business had revenue of $515.30 million during the quarter, compared to analyst estimates of $512.21 million. As a group, equities research analysts forecast that Neurocrine Biosciences, Inc. will post 4.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

NBIX has been the subject of several research analyst reports. HC Wainwright raised their price target on Neurocrine Biosciences from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Guggenheim raised their target price on Neurocrine Biosciences from $164.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Citigroup boosted their price target on shares of Neurocrine Biosciences from $140.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Canaccord Genuity Group raised their price objective on shares of Neurocrine Biosciences from $154.00 to $164.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $160.00 target price on shares of Neurocrine Biosciences in a research note on Wednesday, June 12th. Six research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $152.00.

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.