New York State Teachers Retirement System Sells 5,921 Shares of Neurocrine Biosciences, Inc. $NBIX

New York State Teachers Retirement System cut its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 6.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 89,710 shares of the company’s stock after selling 5,921 shares during the quarter. New York State Teachers Retirement System’s holdings in Neurocrine Biosciences were worth $11,818,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of NBIX. Royal Bank of Canada lifted its position in Neurocrine Biosciences by 36.7% during the 1st quarter. Royal Bank of Canada now owns 82,810 shares of the company’s stock worth $9,158,000 after acquiring an additional 22,224 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Neurocrine Biosciences by 60.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,783 shares of the company’s stock valued at $1,647,000 after purchasing an additional 5,577 shares during the last quarter. NewEdge Advisors LLC increased its stake in shares of Neurocrine Biosciences by 56.3% in the first quarter. NewEdge Advisors LLC now owns 7,630 shares of the company’s stock worth $844,000 after purchasing an additional 2,747 shares during the period. Empowered Funds LLC bought a new position in shares of Neurocrine Biosciences in the first quarter worth about $1,333,000. Finally, Geneos Wealth Management Inc. lifted its position in shares of Neurocrine Biosciences by 143.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after purchasing an additional 135 shares during the last quarter. Institutional investors own 92.59% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on NBIX. Needham & Company LLC restated a “buy” rating and set a $185.00 target price on shares of Neurocrine Biosciences in a research note on Monday, April 6th. Citigroup lifted their price target on Neurocrine Biosciences from $242.00 to $246.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Weiss Ratings upgraded Neurocrine Biosciences from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, June 24th. Morgan Stanley increased their price objective on Neurocrine Biosciences from $185.00 to $191.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. Finally, Royal Bank Of Canada increased their price objective on Neurocrine Biosciences from $180.00 to $183.00 and gave the company an “outperform” rating in a research report on Friday, May 29th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $187.52.

Insider Activity

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 245,088 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $154.33, for a total value of $37,824,431.04. Following the completion of the transaction, the director owned 511,293 shares of the company’s stock, valued at $78,907,848.69. This represents a 32.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Julie Cooke sold 36,937 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $156.22, for a total value of $5,770,298.14. Following the completion of the sale, the insider owned 22,374 shares of the company’s stock, valued at $3,495,266.28. This represents a 62.28% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 365,234 shares of company stock valued at $57,031,540. Corporate insiders own 4.60% of the company’s stock.

Neurocrine Biosciences Stock Performance

Shares of NBIX opened at $174.26 on Monday. The company has a 50-day simple moving average of $155.99 and a 200-day simple moving average of $141.73. Neurocrine Biosciences, Inc. has a 52 week low of $122.14 and a 52 week high of $174.38. The firm has a market capitalization of $17.52 billion, a P/E ratio of 26.85, a P/E/G ratio of 0.69 and a beta of 0.39.

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.