Maryland State Retirement & Pension System Sells 372 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Maryland State Retirement & Pension System lowered its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 6.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 5,324 shares of the company’s stock after selling 372 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Neurocrine Biosciences were worth $727,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quest Partners LLC boosted its position in shares of Neurocrine Biosciences by 674.9% during the 3rd quarter. Quest Partners LLC now owns 3,495 shares of the company’s stock valued at $403,000 after acquiring an additional 3,044 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Neurocrine Biosciences during the third quarter valued at approximately $553,000. Commerce Bank grew its stake in shares of Neurocrine Biosciences by 2.6% in the 3rd quarter. Commerce Bank now owns 4,199 shares of the company’s stock valued at $484,000 after purchasing an additional 108 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Neurocrine Biosciences by 670.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 17,186 shares of the company’s stock worth $1,980,000 after buying an additional 14,956 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Neurocrine Biosciences by 4.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 163,054 shares of the company’s stock worth $18,787,000 after buying an additional 7,069 shares during the period. Institutional investors own 92.59% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on NBIX shares. StockNews.com cut Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 20th. Morgan Stanley reissued an “overweight” rating and set a $150.00 price target (down from $185.00) on shares of Neurocrine Biosciences in a report on Friday, March 7th. UBS Group upped their price objective on shares of Neurocrine Biosciences from $162.00 to $176.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Piper Sandler reiterated an “overweight” rating and issued a $160.00 target price on shares of Neurocrine Biosciences in a research note on Monday, December 23rd. Finally, Canaccord Genuity Group decreased their price target on Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Five equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Neurocrine Biosciences presently has an average rating of “Moderate Buy” and an average target price of $165.24.

Neurocrine Biosciences Trading Up 3.3 %

NASDAQ NBIX opened at $115.60 on Tuesday. Neurocrine Biosciences, Inc. has a 12 month low of $105.18 and a 12 month high of $157.98. The stock has a 50-day simple moving average of $126.35 and a 200 day simple moving average of $125.13. The company has a market capitalization of $11.53 billion, a PE ratio of 35.14, a P/E/G ratio of 0.77 and a beta of 0.35.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings results on Thursday, February 6th. The company reported $1.00 earnings per share for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.62). Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.38%. As a group, sell-side analysts predict that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Neurocrine Biosciences announced that its board has approved a stock repurchase plan on Friday, February 21st that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 4.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Transactions at Neurocrine Biosciences

In other news, Director Kevin Charles Gorman sold 146,105 shares of Neurocrine Biosciences stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $149.46, for a total transaction of $21,836,853.30. Following the transaction, the director now owns 514,596 shares in the company, valued at $76,911,518.16. The trade was a 22.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ingrid Delaet sold 272 shares of the stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $138.10, for a total value of $37,563.20. Following the sale, the insider now directly owns 2,507 shares of the company’s stock, valued at approximately $346,216.70. The trade was a 9.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 233,178 shares of company stock valued at $33,906,594 over the last three months. 4.30% of the stock is currently owned by corporate 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.