Public Employees Retirement System of Ohio Reduces Stake in Neurocrine Biosciences, Inc. $NBIX

Public Employees Retirement System of Ohio decreased its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 2.0% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 32,717 shares of the company’s stock after selling 652 shares during the period. Public Employees Retirement System of Ohio’s holdings in Neurocrine Biosciences were worth $4,112,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Geneos Wealth Management Inc. increased its stake in Neurocrine Biosciences by 143.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after acquiring an additional 135 shares during the last quarter. WPG Advisers LLC bought a new position in Neurocrine Biosciences in the 1st quarter worth about $32,000. Smallwood Wealth Investment Management LLC bought a new position in Neurocrine Biosciences in the 1st quarter worth about $34,000. SVB Wealth LLC bought a new position in Neurocrine Biosciences in the 1st quarter worth about $35,000. Finally, Golden State Wealth Management LLC increased its stake in Neurocrine Biosciences by 116.9% in the 1st quarter. Golden State Wealth Management LLC now owns 397 shares of the company’s stock worth $44,000 after acquiring an additional 214 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors.

Neurocrine Biosciences Stock Performance

Shares of NBIX stock opened at $140.38 on Wednesday. The firm has a market cap of $13.92 billion, a P/E ratio of 41.53, a P/E/G ratio of 1.01 and a beta of 0.28. Neurocrine Biosciences, Inc. has a fifty-two week low of $84.23 and a fifty-two week high of $154.61. The business’s 50 day moving average price is $136.72 and its 200-day moving average price is $123.73.

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

Insider Transactions at Neurocrine Biosciences

In other news, Director Kevin Charles Gorman sold 106,322 shares of Neurocrine Biosciences stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $126.41, for a total value of $13,440,164.02. Following the sale, the director directly owned 514,596 shares in the company, valued at approximately $65,050,080.36. This trade represents a 17.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jude Onyia sold 59,819 shares of Neurocrine Biosciences stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $130.46, for a total value of $7,803,986.74. Following the completion of the sale, the insider owned 18,289 shares in the company, valued at approximately $2,385,982.94. This represents a 76.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 166,598 shares of company stock worth $21,305,846. 4.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. The Goldman Sachs Group assumed coverage on Neurocrine Biosciences in a research note on Thursday, July 10th. They issued a “buy” rating and a $182.00 target price on the stock. Piper Sandler upped their target price on Neurocrine Biosciences from $154.00 to $175.00 and gave the stock an “overweight” rating in a research note on Thursday, July 31st. Stifel Nicolaus raised their price objective on Neurocrine Biosciences from $166.00 to $174.00 and gave the company a “buy” rating in a report on Thursday, July 31st. UBS Group boosted their target price on Neurocrine Biosciences from $152.00 to $174.00 and gave the stock a “buy” rating in a research report on Wednesday, July 9th. Finally, Wedbush reaffirmed an “outperform” rating on shares of Neurocrine Biosciences in a research note on Monday, September 22nd. Seventeen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $161.89.

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.