Utah Retirement Systems Has $2.26 Million Stock Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Utah Retirement Systems raised its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 0.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,583 shares of the company’s stock after buying an additional 100 shares during the quarter. Utah Retirement Systems’ holdings in Neurocrine Biosciences were worth $2,264,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Soros Fund Management LLC raised its position in shares of Neurocrine Biosciences by 33.3% during the fourth quarter. Soros Fund Management LLC now owns 200,000 shares of the company’s stock valued at $27,300,000 after buying an additional 50,000 shares during the last quarter. PDT Partners LLC raised its holdings in Neurocrine Biosciences by 133.2% in the 4th quarter. PDT Partners LLC now owns 34,748 shares of the company’s stock valued at $4,743,000 after acquiring an additional 19,848 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Neurocrine Biosciences by 2.9% in the 4th quarter. AQR Capital Management LLC now owns 1,896,891 shares of the company’s stock worth $258,926,000 after acquiring an additional 53,610 shares during the period. AdvisorShares Investments LLC acquired a new stake in shares of Neurocrine Biosciences during the 4th quarter worth approximately $277,000. Finally, Northern Trust Corp increased its position in shares of Neurocrine Biosciences by 27.3% during the fourth quarter. Northern Trust Corp now owns 981,939 shares of the company’s stock valued at $134,035,000 after purchasing an additional 210,315 shares during the period. 92.59% of the stock is owned by institutional investors.

Neurocrine Biosciences Trading Up 2.9 %

Shares of NASDAQ NBIX opened at $109.68 on Friday. Neurocrine Biosciences, Inc. has a 1-year low of $84.23 and a 1-year high of $157.98. The company has a 50-day moving average of $106.19 and a two-hundred day moving average of $121.84. The company has a market cap of $10.85 billion, a PE ratio of 33.34, a P/E/G ratio of 0.77 and a beta of 0.33.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data on Thursday, February 6th. The company reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.62 by ($0.62). Neurocrine Biosciences had a return on equity of 13.38% and a net margin of 14.49%. As a group, equities research analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Neurocrine Biosciences announced that its Board of Directors has approved a stock buyback plan on Friday, February 21st that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to reacquire up to 4.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

NBIX has been the topic of a number of recent research reports. Morgan Stanley reiterated an “overweight” rating and set a $150.00 price target (down previously from $185.00) on shares of Neurocrine Biosciences in a research note on Friday, March 7th. Guggenheim lowered their target price on shares of Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Evercore ISI cut their price target on shares of Neurocrine Biosciences from $190.00 to $185.00 and set an “outperform” rating for the company in a research note on Thursday, April 24th. Royal Bank of Canada upgraded Neurocrine Biosciences from a “sector perform” rating to an “outperform” rating and lowered their price objective for the company from $138.00 to $137.00 in a research note on Monday, April 14th. Finally, Needham & Company LLC upgraded Neurocrine Biosciences from a “hold” rating to a “buy” rating and set a $138.00 target price for the company in a research report on Tuesday, April 15th. Three research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $160.90.

Insiders Place Their Bets

In other news, insider Ingrid Delaet sold 623 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $149.29, for a total value of $93,007.67. Following the transaction, the insider now directly owns 3,442 shares in the company, valued at $513,856.18. This trade represents a 15.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Kyle Gano sold 980 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $118.39, for a total value of $116,022.20. Following the completion of the sale, the chief executive officer now owns 137,658 shares of the company’s stock, valued at $16,297,330.62. This represents a 0.71 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 14,530 shares of company stock valued at $1,722,989. 4.30% of the stock is currently owned by insiders.

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.