New York State Common Retirement Fund Reduces Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

New York State Common Retirement Fund lowered its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 1.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 174,774 shares of the company's stock after selling 3,000 shares during the period. New York State Common Retirement Fund owned approximately 0.18% of Neurocrine Biosciences worth $19,330,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NBIX. HighTower Advisors LLC grew its position in Neurocrine Biosciences by 10.6% in the fourth quarter. HighTower Advisors LLC now owns 10,600 shares of the company's stock worth $1,447,000 after acquiring an additional 1,013 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new position in Neurocrine Biosciences in the fourth quarter worth about $243,000. EverSource Wealth Advisors LLC grew its position in Neurocrine Biosciences by 107.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 466 shares of the company's stock worth $64,000 after acquiring an additional 241 shares in the last quarter. Avantax Advisory Services Inc. grew its position in Neurocrine Biosciences by 11.4% in the fourth quarter. Avantax Advisory Services Inc. now owns 2,895 shares of the company's stock worth $395,000 after acquiring an additional 297 shares in the last quarter. Finally, Natixis Advisors LLC grew its position in Neurocrine Biosciences by 14.6% in the fourth quarter. Natixis Advisors LLC now owns 33,604 shares of the company's stock worth $4,587,000 after acquiring an additional 4,277 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company's stock.

Neurocrine Biosciences Trading Up 0.5%

Shares of Neurocrine Biosciences stock traded up $0.63 on Thursday, hitting $134.11. 674,476 shares of the company traded hands, compared to its average volume of 1,146,525. The stock's 50 day moving average price is $125.18 and its 200-day moving average price is $121.53. Neurocrine Biosciences, Inc. has a 52 week low of $84.23 and a 52 week high of $157.98. The company has a market cap of $13.27 billion, a PE ratio of 45.46, a PEG ratio of 1.37 and a beta of 0.24.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.62). The business had revenue of $572.60 million for the quarter, compared to analysts' expectations of $587.06 million. Neurocrine Biosciences had a net margin of 12.68% and a return on equity of 11.81%. The business's quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.20 earnings per share. As a group, research analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Insider Buying and Selling at Neurocrine Biosciences

In related news, insider Ingrid Delaet sold 457 shares of Neurocrine Biosciences stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $135.00, for a total transaction of $61,695.00. Following the transaction, the insider directly owned 4,730 shares of the company's stock, valued at $638,550. This trade represents a 8.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Kevin Charles Gorman sold 9,613 shares of Neurocrine Biosciences stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $120.38, for a total transaction of $1,157,212.94. Following the transaction, the director directly owned 514,596 shares in the company, valued at approximately $61,947,066.48. The trade was a 1.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 120,251 shares of company stock valued at $14,978,602. 4.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on NBIX shares. Canaccord Genuity Group lifted their price target on Neurocrine Biosciences from $158.00 to $160.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. The Goldman Sachs Group began coverage on shares of Neurocrine Biosciences in a research note on Thursday, July 10th. They issued a "buy" rating and a $182.00 price objective for the company. Royal Bank Of Canada reissued an "outperform" rating and issued a $145.00 price objective on shares of Neurocrine Biosciences in a research note on Monday, June 2nd. Needham & Company LLC raised their price objective on shares of Neurocrine Biosciences from $138.00 to $139.00 and gave the stock a "buy" rating in a research note on Tuesday, May 6th. Finally, Piper Sandler reissued an "overweight" rating and issued a $154.00 price objective (down previously from $160.00) on shares of Neurocrine Biosciences in a research note on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $163.91.

Neurocrine Biosciences Company 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.