Neurocrine Biosciences, Inc. $NBIX Shares Sold by Teacher Retirement System of Texas

Key Points

• Teacher Retirement System of Texas reduced its stake in Neurocrine Biosciences by 37.1% in Q4, selling 9,483 shares and leaving 16,070 shares valued at about $2.28 million.
• Other large institutions increased or initiated positions — notably AQR (+83.7% to 2.77M shares), JPMorgan (+11% to 4.73M shares), Two Sigma and Adage added new stakes — and institutional investors now own 92.59% of NBIX.
• Analysts rate NBIX a consensus “Moderate Buy” with an average price target of $180.45; the company beat revenue estimates ($805.5M) but missed EPS ($1.88 vs. $2.36), and shares trade near $128 with a 52-week range of $104.73–$160.18.

Teacher Retirement System of Texas lessened its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 37.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,070 shares of the company's stock after selling 9,483 shares during the period. Teacher Retirement System of Texas' holdings in Neurocrine Biosciences were worth $2,279,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. AQR Capital Management LLC increased its holdings in Neurocrine Biosciences by 83.7% in the 3rd quarter. AQR Capital Management LLC now owns 2,773,648 shares of the company's stock valued at $388,435,000 after purchasing an additional 1,263,633 shares in the last quarter. JPMorgan Chase & Co. raised its position in Neurocrine Biosciences by 11.0% in the third quarter. JPMorgan Chase & Co. now owns 4,730,152 shares of the company's stock valued at $664,019,000 after purchasing an additional 468,405 shares during the period. Two Sigma Investments LP acquired a new position in shares of Neurocrine Biosciences during the third quarter worth about $48,791,000. Adage Capital Partners GP L.L.C. acquired a new position in shares of Neurocrine Biosciences during the second quarter worth about $42,933,000. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Neurocrine Biosciences by 228.9% in the third quarter. Arrowstreet Capital Limited Partnership now owns 411,660 shares of the company's stock worth $57,789,000 after buying an additional 286,498 shares during the period. Institutional investors and hedge funds own 92.59% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on NBIX shares. Needham & Company LLC reiterated a "buy" rating and issued a $185.00 target price on shares of Neurocrine Biosciences in a research note on Monday, April 6th. Morgan Stanley upped their price target on Neurocrine Biosciences from $173.00 to $185.00 and gave the stock an "equal weight" rating in a report on Friday, April 10th. Royal Bank Of Canada lowered their price objective on shares of Neurocrine Biosciences from $180.00 to $177.00 and set an "outperform" rating for the company in a research report on Thursday, February 12th. Truist Financial dropped their price objective on shares of Neurocrine Biosciences from $169.00 to $140.00 and set a "buy" rating on the stock in a research note on Tuesday, February 17th. Finally, Wall Street Zen raised shares of Neurocrine Biosciences from a "buy" rating to a "strong-buy" rating in a research report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Neurocrine Biosciences currently has an average rating of "Moderate Buy" and a consensus price target of $180.45.

Neurocrine Biosciences Stock Up 0.3%

Shares of NASDAQ NBIX opened at $128.04 on Tuesday. Neurocrine Biosciences, Inc. has a fifty-two week low of $104.73 and a fifty-two week high of $160.18. The business has a 50 day moving average price of $130.15 and a two-hundred day moving average price of $137.88. The firm has a market cap of $12.88 billion, a PE ratio of 27.48, a price-to-earnings-growth ratio of 0.67 and a beta of 0.35.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last released its earnings results on Wednesday, February 11th. The company reported $1.88 EPS for the quarter, missing the consensus estimate of $2.36 by ($0.48). Neurocrine Biosciences had a net margin of 16.73% and a return on equity of 16.48%. The business had revenue of $805.50 million for the quarter, compared to analysts' expectations of $804.21 million. During the same quarter last year, the company posted $1.69 earnings per share. The business's quarterly revenue was up 28.3% compared to the same quarter last year. On average, analysts anticipate that Neurocrine Biosciences, Inc. will post 6.33 earnings per share for the current 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.

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