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

VIRGINIA RETIREMENT SYSTEMS ET Al boosted its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 18.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 291,723 shares of the company’s stock after buying an additional 45,800 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.29% of Neurocrine Biosciences worth $41,378,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Basecamp Wealth Advisors LLC raised its position in shares of Neurocrine Biosciences by 582.9% during the first quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company’s stock worth $31,000 after acquiring an additional 204 shares during the last quarter. Cassaday & Co Wealth Management LLC acquired a new position in shares of Neurocrine Biosciences during the first quarter valued at $33,000. Ascentis Independent Advisors bought a new position in Neurocrine Biosciences in the first quarter valued at about $40,000. TrinityBridge Ltd bought a new position in Neurocrine Biosciences in the second quarter valued at about $45,000. Finally, Transamerica Financial Advisors LLC bought a new position in Neurocrine Biosciences in the second quarter valued at about $48,000. 92.59% of the stock is currently owned by institutional investors.

Neurocrine Biosciences Trading Down 0.2%

Neurocrine Biosciences stock opened at $146.10 on Friday. The firm has a market capitalization of $14.85 billion, a P/E ratio of 20.22, a PEG ratio of 0.64 and a beta of 0.40. Neurocrine Biosciences, Inc. has a 1 year low of $122.14 and a 1 year high of $186.12. The business has a 50-day moving average of $146.63 and a 200-day moving average of $147.39.

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

Insiders Place Their Bets

In other Neurocrine Biosciences news, CFO Matt Abernethy sold 2,311 shares of the business’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $157.20, for a total value of $363,289.20. Following the completion of the transaction, the chief financial officer directly owned 42,808 shares of the company’s stock, valued at approximately $6,729,417.60. The trade was a 5.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 W. Boyer sold 826 shares of the stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $157.45, for a total value of $130,053.70. Following the completion of the sale, the insider owned 8,722 shares of the company’s stock, valued at $1,373,278.90. This trade represents a 8.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on NBIX. TD Cowen boosted their price objective on Neurocrine Biosciences from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Truist Financial raised their target price on shares of Neurocrine Biosciences from $200.00 to $213.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Citigroup lifted their price target 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. Cantor Fitzgerald increased their price objective on shares of Neurocrine Biosciences from $210.00 to $215.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Finally, Guggenheim assumed coverage on shares of Neurocrine Biosciences in a research note on Tuesday, October 6th. They issued a “buy” rating and a $207.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $201.14.

Neurocrine Biosciences Company Profile

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.