Louisiana State Employees Retirement System Acquires Shares of 29,100 Neurocrine Biosciences, Inc. $NBIX

Louisiana State Employees Retirement System bought a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the 1st quarter, Holdings Channel.com reports. The institutional investor bought 29,100 shares of the company’s stock, valued at approximately $3,834,000.

Several other large investors have also made changes to their positions in the company. Ritholtz Wealth Management lifted its holdings in Neurocrine Biosciences by 11.6% during the 1st quarter. Ritholtz Wealth Management now owns 1,697 shares of the company’s stock valued at $224,000 after purchasing an additional 176 shares during the last quarter. Blue Trust Inc. grew its stake in Neurocrine Biosciences by 5,844.4% during the first quarter. Blue Trust Inc. now owns 535 shares of the company’s stock worth $70,000 after buying an additional 526 shares during the last quarter. Davis Investment Partners LLC increased its holdings in shares of Neurocrine Biosciences by 8.0% during the first quarter. Davis Investment Partners LLC now owns 4,459 shares of the company’s stock worth $587,000 after buying an additional 329 shares in the last quarter. Fifth Third Wealth Advisors LLC increased its holdings in shares of Neurocrine Biosciences by 13.7% during the first quarter. Fifth Third Wealth Advisors LLC now owns 3,563 shares of the company’s stock worth $469,000 after buying an additional 430 shares in the last quarter. Finally, OP Asset Management Ltd bought a new position in shares of Neurocrine Biosciences in the first quarter valued at approximately $2,438,000. Institutional investors own 92.59% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on NBIX shares. Weiss Ratings raised Neurocrine Biosciences from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday. Guggenheim reiterated a “buy” rating and issued a $175.00 price objective on shares of Neurocrine Biosciences in a research report on Wednesday, May 6th. HC Wainwright boosted their price objective on Neurocrine Biosciences from $192.00 to $215.00 and gave the stock a “buy” rating in a research note on Tuesday, April 7th. The Goldman Sachs Group initiated coverage on Neurocrine Biosciences in a research note on Tuesday, June 2nd. They issued a “buy” rating and a $213.00 target price for the company. Finally, Citigroup lifted their price target on Neurocrine Biosciences from $242.00 to $246.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Neurocrine Biosciences currently has a consensus rating of “Moderate Buy” and an average price target of $187.52.

Neurocrine Biosciences Stock Performance

NASDAQ:NBIX opened at $168.52 on Friday. The stock’s fifty day moving average price is $151.99 and its two-hundred day moving average price is $141.24. Neurocrine Biosciences, Inc. has a 52-week low of $122.14 and a 52-week high of $169.57. The company has a market cap of $16.94 billion, a price-to-earnings ratio of 25.97, a P/E/G ratio of 0.67 and a beta of 0.40.

Insider Activity at Neurocrine Biosciences

In related news, Director Leslie V. Norwalk sold 1,250 shares of the firm’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $168.06, for a total value of $210,075.00. Following the transaction, the director owned 2,838 shares in the company, valued at $476,954.28. This trade represents a 30.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephen A. Sherwin sold 25,000 shares of Neurocrine Biosciences stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $165.32, for a total value of $4,133,000.00. Following the completion of the sale, the director owned 15,860 shares of the company’s stock, valued at approximately $2,621,975.20. The trade was a 61.18% 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. Insiders have sold a total of 355,234 shares of company stock valued at $55,330,060 over the last quarter. 4.60% of the stock is currently owned by corporate insiders.

Neurocrine Biosciences Profile

Neurocrine Biosciences (NASDAQ: NBIX) is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research‐driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine’s operations encompass drug discovery, clinical development and commercialization activities.

The company’s lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.