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Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Stock Position Reduced by Teacher Retirement System of Texas

Neurocrine Biosciences logo with Medical background

Teacher Retirement System of Texas cut its holdings in shares of 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 and Exchange Commission. The firm 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 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of NBIX. Dodge & Cox boosted its holdings in Neurocrine Biosciences by 134.2% during the 4th quarter. Dodge & Cox now owns 3,016,425 shares of the company's stock valued at $411,742,000 after acquiring an additional 1,728,605 shares during the period. Wellington Management Group LLP boosted its holdings in Neurocrine Biosciences by 102.9% during the 4th quarter. Wellington Management Group LLP now owns 1,457,425 shares of the company's stock valued at $198,939,000 after acquiring an additional 739,199 shares during the period. Thrivent Financial for Lutherans boosted its holdings in Neurocrine Biosciences by 2,759.4% during the 4th quarter. Thrivent Financial for Lutherans now owns 737,772 shares of the company's stock valued at $100,705,000 after acquiring an additional 711,970 shares during the period. Orbimed Advisors LLC boosted its holdings in Neurocrine Biosciences by 210.4% during the 4th quarter. Orbimed Advisors LLC now owns 938,120 shares of the company's stock valued at $128,053,000 after acquiring an additional 635,900 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in Neurocrine Biosciences by 1,405.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 393,455 shares of the company's stock valued at $43,516,000 after acquiring an additional 367,315 shares during the period. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NBIX. Needham & Company LLC increased their price target on Neurocrine Biosciences from $138.00 to $139.00 and gave the company a "buy" rating in a research report on Tuesday, May 6th. JPMorgan Chase & Co. increased their price target on Neurocrine Biosciences from $183.00 to $184.00 and gave the company an "overweight" rating in a research report on Wednesday, March 26th. Canaccord Genuity Group increased their price target on Neurocrine Biosciences from $158.00 to $160.00 and gave the company a "buy" rating in a research report on Tuesday, May 6th. Piper Sandler reaffirmed an "overweight" rating and issued a $154.00 price target (down previously from $160.00) on shares of Neurocrine Biosciences in a research report on Tuesday, May 6th. Finally, Evercore ISI cut their target price on Neurocrine Biosciences from $190.00 to $185.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Three analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat, Neurocrine Biosciences presently has an average rating of "Moderate Buy" and a consensus price target of $163.05.

Read Our Latest Stock Report on Neurocrine Biosciences

Insider Activity at Neurocrine Biosciences

In related news, Director Kevin Charles Gorman sold 9,613 shares of the company's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $120.38, for a total value of $1,157,212.94. Following the completion of the transaction, the director directly owned 514,596 shares in the company, valued at approximately $61,947,066.48. This represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William H. Rastetter sold 30,000 shares of the company's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $110.20, for a total value of $3,306,000.00. Following the sale, the director owned 37,491 shares of the company's stock, valued at $4,131,508.20. This represents a 44.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 59,975 shares of company stock worth $7,112,920. 4.30% of the stock is currently owned by insiders.

Neurocrine Biosciences Price Performance

NBIX traded up $4.77 during trading on Wednesday, reaching $133.51. 1,261,236 shares of the stock were exchanged, compared to its average volume of 1,339,305. The business's 50 day moving average price is $122.63 and its two-hundred day moving average price is $121.58. The company has a market capitalization of $13.21 billion, a price-to-earnings ratio of 45.26, a P/E/G ratio of 1.31 and a beta of 0.24. Neurocrine Biosciences, Inc. has a 1 year low of $84.23 and a 1 year high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last released 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). Neurocrine Biosciences had a return on equity of 11.81% and a net margin of 12.68%. The company had revenue of $572.60 million during the quarter, compared to analyst estimates of $587.06 million. During the same period last year, the firm earned $1.20 earnings per share. The business's revenue was up 11.1% compared to the same quarter last year. On average, analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Neurocrine Biosciences Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Neurocrine Biosciences (NASDAQ:NBIX)

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