Louisiana State Employees Retirement System Invests $3.64 Million in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Louisiana State Employees Retirement System acquired a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 27,600 shares of the company's stock, valued at approximately $3,637,000.

Several other large investors have also added to or reduced their stakes in NBIX. Headinvest LLC acquired a new stake in Neurocrine Biosciences in the third quarter valued at approximately $28,000. Acadian Asset Management LLC acquired a new stake in Neurocrine Biosciences in the first quarter valued at approximately $27,000. BluePath Capital Management LLC acquired a new stake in Neurocrine Biosciences in the third quarter valued at approximately $35,000. KB Financial Partners LLC acquired a new stake in Neurocrine Biosciences in the first quarter valued at approximately $32,000. Finally, Sunbelt Securities Inc. grew its stake in Neurocrine Biosciences by 34.3% in the third quarter. Sunbelt Securities Inc. now owns 325 shares of the company's stock valued at $37,000 after acquiring an additional 83 shares during the period. Institutional investors and hedge funds own 92.59% of the company's stock.

Neurocrine Biosciences Trading Down 2.2 %

Shares of NBIX traded down $2.92 during midday trading on Monday, reaching $131.74. The stock had a trading volume of 767,232 shares, compared to its average volume of 852,363. The company's 50-day moving average is $136.65 and its 200 day moving average is $126.51. Neurocrine Biosciences, Inc. has a 12-month low of $89.04 and a 12-month high of $148.37. The company has a market capitalization of $13.11 billion, a price-to-earnings ratio of 54.44 and a beta of 0.25.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $1.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.13 by $0.31. Neurocrine Biosciences had a return on equity of 12.85% and a net margin of 13.23%. The firm had revenue of $515.20 million during the quarter, compared to analysts' expectations of $518.52 million. During the same period in the prior year, the business earned $0.88 EPS. The company's revenue for the quarter was up 25.0% compared to the same quarter last year. Research analysts forecast that Neurocrine Biosciences, Inc. will post 4.84 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NBIX. Citigroup dropped their target price on Neurocrine Biosciences from $141.00 to $140.00 and set a "neutral" rating on the stock in a report on Thursday, February 8th. Barclays raised their target price on Neurocrine Biosciences from $145.00 to $150.00 and gave the company an "overweight" rating in a report on Tuesday, January 23rd. Mizuho raised their target price on Neurocrine Biosciences from $116.00 to $140.00 and gave the company a "neutral" rating in a report on Thursday, February 8th. StockNews.com upgraded Neurocrine Biosciences from a "buy" rating to a "strong-buy" rating in a report on Thursday, February 8th. Finally, JPMorgan Chase & Co. raised their target price on Neurocrine Biosciences from $148.00 to $158.00 and gave the company an "overweight" rating in a report on Wednesday, March 20th. Six investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $139.25.

Insider Activity

In other news, insider Ingrid Delaet sold 5,000 shares of the business's stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $145.06, for a total value of $725,300.00. Following the completion of the sale, the insider now owns 7,507 shares of the company's stock, valued at approximately $1,088,965.42. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Neurocrine Biosciences news, insider Ingrid Delaet sold 5,000 shares of the company's stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $145.06, for a total transaction of $725,300.00. Following the completion of the transaction, the insider now owns 7,507 shares of the company's stock, valued at approximately $1,088,965.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Eric Benevich sold 75,000 shares of the company's stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $139.38, for a total value of $10,453,500.00. Following the transaction, the insider now directly owns 40,778 shares of the company's stock, valued at approximately $5,683,637.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 177,176 shares of company stock valued at $24,562,081. Insiders own 4.60% of the company's stock.

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.