Retirement Systems of Alabama Lowers Holdings in Neurocrine Biosciences, Inc. $NBIX

Retirement Systems of Alabama trimmed its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 0.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 120,958 shares of the company’s stock after selling 394 shares during the period. Retirement Systems of Alabama owned approximately 0.12% of Neurocrine Biosciences worth $15,203,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Assetmark Inc. grew its position in Neurocrine Biosciences by 10.8% in the second quarter. Assetmark Inc. now owns 21,001 shares of the company’s stock worth $2,640,000 after acquiring an additional 2,045 shares during the period. Hantz Financial Services Inc. boosted its position in shares of Neurocrine Biosciences by 108.6% during the second quarter. Hantz Financial Services Inc. now owns 1,312 shares of the company’s stock worth $165,000 after buying an additional 683 shares during the period. Daymark Wealth Partners LLC purchased a new position in shares of Neurocrine Biosciences during the second quarter worth $244,000. Whalen Wealth Management Inc. boosted its position in shares of Neurocrine Biosciences by 6.9% during the second quarter. Whalen Wealth Management Inc. now owns 3,629 shares of the company’s stock worth $456,000 after buying an additional 235 shares during the period. Finally, Motley Fool Asset Management LLC boosted its position in shares of Neurocrine Biosciences by 8.5% during the second quarter. Motley Fool Asset Management LLC now owns 2,667 shares of the company’s stock worth $335,000 after buying an additional 209 shares during the period. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NBIX has been the subject of several research analyst reports. Wedbush restated an “outperform” rating on shares of Neurocrine Biosciences in a research report on Monday, September 22nd. Morgan Stanley raised their price target on Neurocrine Biosciences from $163.00 to $168.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. The Goldman Sachs Group initiated coverage on Neurocrine Biosciences in a research report on Thursday, July 10th. They set a “buy” rating and a $182.00 price target for the company. Zacks Research upgraded Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 15th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Neurocrine Biosciences in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $168.47.

Neurocrine Biosciences Trading Up 3.7%

Shares of NASDAQ:NBIX opened at $143.21 on Friday. Neurocrine Biosciences, Inc. has a 52 week low of $84.23 and a 52 week high of $154.61. The company’s 50 day moving average is $140.85 and its two-hundred day moving average is $129.75. The company has a market cap of $14.20 billion, a PE ratio of 34.26, a P/E/G ratio of 0.94 and a beta of 0.21.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Tuesday, October 28th. The company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.46. The business had revenue of $794.90 million during the quarter, compared to analysts’ expectations of $746.61 million. Neurocrine Biosciences had a net margin of 15.95% and a return on equity of 15.82%. The company’s revenue for the quarter was up 27.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.81 EPS. As a group, equities research analysts expect that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Insider Buying and Selling

In related news, Director Kevin Charles Gorman sold 106,322 shares of the stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $126.41, for a total value of $13,440,164.02. Following the transaction, the director owned 514,596 shares of the company’s stock, valued at $65,050,080.36. This represents a 17.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 4.80% of the stock is owned by company insiders.

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.