Teacher Retirement System of Texas Sells 3,112 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Teacher Retirement System of Texas decreased its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 10.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,700 shares of the company's stock after selling 3,112 shares during the quarter. Teacher Retirement System of Texas' holdings in Neurocrine Biosciences were worth $3,064,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Huntington National Bank raised its position in Neurocrine Biosciences by 73.5% during the fourth quarter. Huntington National Bank now owns 229 shares of the company's stock valued at $31,000 after acquiring an additional 97 shares in the last quarter. Smallwood Wealth Investment Management LLC bought a new stake in Neurocrine Biosciences during the first quarter worth approximately $34,000. GeoWealth Management LLC raised its position in shares of Neurocrine Biosciences by 65.4% in the fourth quarter. GeoWealth Management LLC now owns 258 shares of the company's stock valued at $35,000 after purchasing an additional 102 shares during the period. Golden State Wealth Management LLC lifted its stake in shares of Neurocrine Biosciences by 116.9% in the first quarter. Golden State Wealth Management LLC now owns 397 shares of the company's stock worth $44,000 after buying an additional 214 shares during the last quarter. Finally, Versant Capital Management Inc raised its holdings in Neurocrine Biosciences by 404.9% in the 1st quarter. Versant Capital Management Inc now owns 409 shares of the company's stock worth $45,000 after acquiring an additional 328 shares during the period. Institutional investors and hedge funds own 92.59% of the company's stock.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 9,613 shares of Neurocrine Biosciences stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $120.38, for a total value of $1,157,212.94. Following the sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William H. Rastetter sold 30,000 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $110.20, for a total value of $3,306,000.00. Following the completion of the sale, the director directly owned 37,491 shares of the company's stock, valued at approximately $4,131,508.20. The trade was a 44.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold 59,975 shares of company stock valued at $7,112,920 over the last quarter. Corporate insiders own 4.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NBIX. UBS Group raised their target price on Neurocrine Biosciences from $152.00 to $174.00 and gave the company a "buy" rating in a report on Wednesday. Piper Sandler reaffirmed an "overweight" rating and set a $154.00 target price (down previously from $160.00) on shares of Neurocrine Biosciences in a research report on Tuesday, May 6th. Needham & Company LLC raised their price target on shares of Neurocrine Biosciences from $138.00 to $139.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $145.00 price objective on shares of Neurocrine Biosciences in a research report on Monday, June 2nd. Finally, HC Wainwright lowered their price target on Neurocrine Biosciences from $185.00 to $168.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Three equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat.com, Neurocrine Biosciences currently has an average rating of "Moderate Buy" and a consensus price target of $163.91.

Neurocrine Biosciences Stock Performance

NASDAQ:NBIX traded up $1.41 during mid-day trading on Thursday, hitting $134.92. The company had a trading volume of 1,051,174 shares, compared to its average volume of 1,145,529. Neurocrine Biosciences, Inc. has a fifty-two week low of $84.23 and a fifty-two week high of $157.98. The firm has a market cap of $13.35 billion, a P/E ratio of 45.74, a P/E/G ratio of 1.37 and a beta of 0.24. The business's fifty day moving average is $123.15 and its two-hundred day moving average is $121.67.

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

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.