California State Teachers Retirement System Has $23.25 Million Stock Position in Neurocrine Biosciences, Inc. $NBIX

California State Teachers Retirement System increased its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 4.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 137,938 shares of the company's stock after purchasing an additional 5,295 shares during the period. California State Teachers Retirement System owned approximately 0.14% of Neurocrine Biosciences worth $23,247,381 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. BlackRock Inc. acquired a new stake in Neurocrine Biosciences in the second quarter valued at approximately $2,310,886,000. Renaissance Technologies LLC grew its stake in shares of Neurocrine Biosciences by 8.0% during the 1st quarter. Renaissance Technologies LLC now owns 2,418,897 shares of the company's stock valued at $318,665,000 after purchasing an additional 180,100 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Neurocrine Biosciences by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 2,059,282 shares of the company's stock valued at $291,342,000 after purchasing an additional 34,457 shares during the last quarter. Los Angeles Capital Management LLC increased its stake in Neurocrine Biosciences by 7.4% in the fourth quarter. Los Angeles Capital Management LLC now owns 1,291,278 shares of the company's stock worth $178,248,000 after purchasing an additional 88,522 shares during the period. Finally, Norges Bank purchased a new stake in Neurocrine Biosciences during the fourth quarter valued at approximately $162,664,000. Institutional investors and hedge funds own 92.59% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on NBIX shares. Morgan Stanley raised their price target on Neurocrine Biosciences from $182.00 to $183.00 and gave the stock an "equal weight" rating in a research report on Friday. Sanford C. Bernstein started coverage on shares of Neurocrine Biosciences in a research note on Friday, May 22nd. They set an "outperform" rating and a $221.00 price objective on the stock. BMO Capital Markets boosted their price target on Neurocrine Biosciences from $144.00 to $170.00 and gave the stock a "market perform" rating in a research report on Monday, July 13th. Citigroup upped their price objective on Neurocrine Biosciences from $249.00 to $253.00 and gave the stock a "buy" rating in a report on Thursday, September 3rd. Finally, Wells Fargo & Company raised their price objective on Neurocrine Biosciences from $175.00 to $200.00 and gave the company an "overweight" rating in a research report on Friday, July 17th. One equities research 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. Based on data from MarketBeat.com, Neurocrine Biosciences currently has a consensus rating of "Moderate Buy" and a consensus target price of $201.09.

Neurocrine Biosciences Stock Down 4.8%

NASDAQ:NBIX traded down $7.50 during mid-day trading on Tuesday, hitting $149.72. 669,814 shares of the stock traded hands, compared to its average volume of 1,188,582. The stock has a market capitalization of $15.22 billion, a price-to-earnings ratio of 21.99, a PEG ratio of 0.73 and a beta of 0.38. The firm's 50 day moving average is $164.12 and its two-hundred day moving average is $151.60. Neurocrine Biosciences, Inc. has a 52 week low of $122.14 and a 52 week high of $186.12.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last announced its earnings results on Friday, July 31st. The company reported $2.85 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $891.16 million. During the same quarter last year, the business earned $1.65 earnings per share. The company's revenue for the quarter was up 39.5% compared to the same quarter last year. As a group, research analysts predict that Neurocrine Biosciences, Inc. will post 7.25 EPS for the current year.

Insider Buying and Selling at Neurocrine Biosciences

In other news, Director Leslie Norwalk sold 1,250 shares of the company's stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $182.01, for a total transaction of $227,512.50. Following the sale, the director owned 1,588 shares in the company, valued at $289,031.88. This represents a 44.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ingrid Delaet sold 8,433 shares of Neurocrine Biosciences stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $178.72, for a total transaction of $1,507,145.76. Following the sale, the insider owned 16,225 shares in the company, valued at approximately $2,899,732. This represents a 34.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 40,188 shares of company stock valued at $7,118,633. Company insiders own 4.60% of the company's stock.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for neurological, neuroendocrine and psychiatric disorders. The company develops therapies for conditions with significant unmet medical needs, using expertise in neuroscience and endocrine biology.

Its primary commercial product is INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor approved in the United States for the treatment of tardive dyskinesia and chorea associated with Huntington's disease.

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