Retirement Systems of Alabama Grows Stock Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Retirement Systems of Alabama increased its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 0.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 123,056 shares of the company’s stock after purchasing an additional 1,128 shares during the period. Retirement Systems of Alabama’s holdings in Neurocrine Biosciences were worth $16,214,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Sunbelt Securities Inc. raised its holdings in shares of Neurocrine Biosciences by 34.3% during the third quarter. Sunbelt Securities Inc. now owns 325 shares of the company’s stock valued at $37,000 after purchasing an additional 83 shares during the last quarter. Lindbrook Capital LLC raised its holdings in shares of Neurocrine Biosciences by 85.0% during the fourth quarter. Lindbrook Capital LLC now owns 209 shares of the company’s stock valued at $28,000 after purchasing an additional 96 shares during the last quarter. Red Spruce Capital LLC raised its holdings in shares of Neurocrine Biosciences by 0.6% during the fourth quarter. Red Spruce Capital LLC now owns 16,026 shares of the company’s stock valued at $2,112,000 after purchasing an additional 101 shares during the last quarter. Metis Global Partners LLC raised its holdings in shares of Neurocrine Biosciences by 4.7% during the third quarter. Metis Global Partners LLC now owns 2,361 shares of the company’s stock valued at $266,000 after purchasing an additional 106 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. increased its holdings in Neurocrine Biosciences by 3.6% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,048 shares of the company’s stock valued at $402,000 after buying an additional 107 shares during the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NBIX. Barclays upped their target price on shares of Neurocrine Biosciences from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Tuesday, January 23rd. Citigroup reduced their price target on Neurocrine Biosciences from $141.00 to $140.00 and set a “neutral” rating for the company in a research report on Thursday, February 8th. The Goldman Sachs Group raised their price objective on Neurocrine Biosciences from $134.00 to $153.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Cantor Fitzgerald reiterated an “overweight” rating and set a $155.00 price objective on shares of Neurocrine Biosciences in a research note on Wednesday, April 10th. Finally, Wells Fargo & Company upgraded shares of Neurocrine Biosciences from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $140.00 to $170.00 in a research note on Wednesday, April 24th. Six research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Neurocrine Biosciences presently has a consensus rating of “Moderate Buy” and an average target price of $142.38.

Neurocrine Biosciences Price Performance

Shares of NASDAQ:NBIX opened at $137.54 on Wednesday. Neurocrine Biosciences, Inc. has a 1 year low of $89.04 and a 1 year high of $148.37. The business has a 50 day simple moving average of $136.86 and a two-hundred day simple moving average of $128.41. The firm has a market capitalization of $13.69 billion, a PE ratio of 56.83 and a beta of 0.25.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.31. The firm had revenue of $515.20 million during the quarter, compared to analyst estimates of $518.52 million. Neurocrine Biosciences had a return on equity of 12.85% and a net margin of 13.23%. Neurocrine Biosciences’s quarterly revenue was up 25.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.88 earnings per share. Equities research analysts expect that Neurocrine Biosciences, Inc. will post 4.8 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Kevin Charles Gorman sold 3,040 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $142.18, for a total value of $432,227.20. Following the completion of the transaction, the chief executive officer now owns 504,919 shares of the company’s stock, valued at $71,789,383.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Ingrid Delaet sold 5,000 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 7,507 shares of the company’s stock, valued at $1,088,965.42. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Kevin Charles Gorman sold 3,040 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $142.18, for a total value of $432,227.20. Following the transaction, the chief executive officer now directly owns 504,919 shares in the company, valued at $71,789,383.42. The disclosure for this sale can be found here. Insiders sold 181,547 shares of company stock valued at $25,039,887 over the last 90 days. Corporate insiders own 4.30% 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.