Louisiana State Employees Retirement System Trims Holdings in Neurocrine Biosciences, Inc. $NBIX

Louisiana State Employees Retirement System lessened its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 0.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,800 shares of the company’s stock after selling 100 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Neurocrine Biosciences were worth $3,494,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. UMB Bank n.a. lifted its stake in Neurocrine Biosciences by 96.9% in the 1st quarter. UMB Bank n.a. now owns 896 shares of the company’s stock valued at $99,000 after buying an additional 441 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of Neurocrine Biosciences by 39.1% during the first quarter. Farther Finance Advisors LLC now owns 686 shares of the company’s stock valued at $73,000 after purchasing an additional 193 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in shares of Neurocrine Biosciences during the first quarter valued at approximately $48,000. Handelsbanken Fonder AB increased its stake in shares of Neurocrine Biosciences by 220.3% in the first quarter. Handelsbanken Fonder AB now owns 86,067 shares of the company’s stock worth $9,519,000 after buying an additional 59,200 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of Neurocrine Biosciences by 1,405.2% in the first quarter. Assenagon Asset Management S.A. now owns 393,455 shares of the company’s stock worth $43,516,000 after buying an additional 367,315 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Insider Buying and Selling at Neurocrine Biosciences

In other news, Director Kevin Charles Gorman sold 106,322 shares of the business’s stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $126.41, for a total transaction of $13,440,164.02. Following the completion of the transaction, the director directly owned 514,596 shares in the company, valued at approximately $65,050,080.36. The trade was a 17.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 4.80% of the company’s stock.

Neurocrine Biosciences Trading Down 0.4%

Shares of Neurocrine Biosciences stock opened at $138.47 on Friday. The company’s fifty day simple moving average is $137.40 and its 200-day simple moving average is $124.92. The company has a market cap of $13.73 billion, a price-to-earnings ratio of 40.97, a PEG ratio of 1.00 and a beta of 0.21. Neurocrine Biosciences, Inc. has a 1 year low of $84.23 and a 1 year high of $154.61.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its earnings results on Wednesday, July 30th. The company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.98 by $0.08. The firm had revenue of $687.50 million during the quarter, compared to analysts’ expectations of $653.09 million. Neurocrine Biosciences had a return on equity of 13.22% and a net margin of 13.88%.Neurocrine Biosciences’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same period last year, the business earned $1.63 earnings per share. As a group, research analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

NBIX has been the subject of several analyst reports. The Goldman Sachs Group started coverage on shares of Neurocrine Biosciences in a report on Thursday, July 10th. They set a “buy” rating and a $182.00 price target for the company. Royal Bank Of Canada upped their price objective on shares of Neurocrine Biosciences from $144.00 to $149.00 and gave the company an “outperform” rating in a research note on Friday, September 5th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Neurocrine Biosciences in a research note on Wednesday. JPMorgan Chase & Co. increased their price target on shares of Neurocrine Biosciences from $140.00 to $145.00 and gave the stock a “neutral” rating in a research report on Thursday, July 31st. Finally, UBS Group increased their price target on shares of Neurocrine Biosciences from $188.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday. Sixteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $163.44.

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.