Neurocrine Biosciences, Inc. $NBIX Stock Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al boosted its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 18.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 291,723 shares of the company’s stock after acquiring an additional 45,800 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Neurocrine Biosciences were worth $41,378,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Bank of America Corp DE grew its holdings in shares of Neurocrine Biosciences by 10.6% during the first quarter. Bank of America Corp DE now owns 583,827 shares of the company’s stock worth $76,913,000 after buying an additional 55,723 shares in the last quarter. ABN AMRO Bank N.V. acquired a new stake in Neurocrine Biosciences in the 2nd quarter valued at approximately $2,510,000. Engineers Gate Manager LP lifted its stake in Neurocrine Biosciences by 64.0% in the 2nd quarter. Engineers Gate Manager LP now owns 18,361 shares of the company’s stock valued at $3,094,000 after acquiring an additional 7,163 shares in the last quarter. Focus Partners Advisor Solutions LLC bought a new stake in Neurocrine Biosciences in the 2nd quarter valued at approximately $1,927,000. Finally, Summit Global Investments bought a new stake in Neurocrine Biosciences in the 2nd quarter valued at approximately $4,959,000. 92.59% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Neurocrine Biosciences news, CFO Matt Abernethy sold 2,311 shares of the company’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $157.20, for a total transaction of $363,289.20. Following the sale, the chief financial officer directly owned 42,808 shares of the company’s stock, valued at approximately $6,729,417.60. This represents a 5.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider David Boyer sold 826 shares of the company’s stock in a transaction on Monday, September 14th. The stock was sold at an average price of $157.45, for a total transaction of $130,053.70. Following the sale, the insider directly owned 8,722 shares in the company, valued at $1,373,278.90. This trade represents a 8.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 4.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on NBIX shares. Wells Fargo & Company raised their price target on shares of Neurocrine Biosciences from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, July 17th. Cantor Fitzgerald boosted their price objective on shares of Neurocrine Biosciences from $210.00 to $215.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Citigroup boosted their price objective on shares of Neurocrine Biosciences from $249.00 to $253.00 and gave the stock a “buy” rating in a research report on Thursday, September 3rd. Wall Street Zen cut shares of Neurocrine Biosciences from a “buy” rating to a “hold” rating in a report on Sunday, August 9th. Finally, Canaccord Genuity Group raised their target price on shares of Neurocrine Biosciences from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $201.14.

Neurocrine Biosciences Stock Down 0.2%

NBIX stock opened at $146.10 on Friday. The company has a market cap of $14.85 billion, a price-to-earnings ratio of 20.22, a P/E/G ratio of 0.64 and a beta of 0.40. Neurocrine Biosciences, Inc. has a twelve month low of $122.14 and a twelve month high of $186.12. The business has a 50 day moving average price of $146.63 and a two-hundred day moving average price of $147.39.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings data on Friday, July 31st. The company reported $2.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $1.20. The company had revenue of $959.00 million for the quarter, compared to analysts’ expectations of $891.16 million. Neurocrine Biosciences had a return on equity of 22.43% and a net margin of 20.91%. The business’s revenue was up 39.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.65 EPS. On average, equities research analysts anticipate that Neurocrine Biosciences, Inc. will post 7.72 EPS for the current fiscal year.

About Neurocrine Biosciences

Neurocrine Biosciences, Inc is a San Diego-based biopharmaceutical company focused on discovering, developing and commercializing medicines for neurological, neuroendocrine and psychiatric disorders. The company’s research programs target conditions in which treatments may address significant unmet medical needs.

Neurocrine’s leading product is INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor approved in the United States for the treatment of tardive dyskinesia and chorea associated with Huntington’s disease.