California Public Employees Retirement System Purchases 25,620 Shares of Neurocrine Biosciences, Inc. $NBIX

California Public Employees Retirement System raised its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 13.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 222,441 shares of the company’s stock after buying an additional 25,620 shares during the quarter. California Public Employees Retirement System owned about 0.22% of Neurocrine Biosciences worth $29,304,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. AQR Capital Management LLC grew its position in shares of Neurocrine Biosciences by 83.7% in the 3rd quarter. AQR Capital Management LLC now owns 2,773,648 shares of the company’s stock worth $388,435,000 after buying an additional 1,263,633 shares during the last quarter. Norges Bank purchased a new stake in Neurocrine Biosciences during the fourth quarter valued at approximately $162,664,000. UBS Group AG lifted its position in Neurocrine Biosciences by 169.8% during the fourth quarter. UBS Group AG now owns 983,528 shares of the company’s stock valued at $139,494,000 after acquiring an additional 618,956 shares during the last quarter. Zurich Insurance Group Ltd FI purchased a new stake in Neurocrine Biosciences during the fourth quarter valued at approximately $65,162,000. Finally, Two Sigma Investments LP acquired a new stake in Neurocrine Biosciences in the third quarter valued at approximately $48,791,000. 92.59% of the stock is currently owned by institutional investors.

Neurocrine Biosciences Trading Up 3.5%

NASDAQ:NBIX opened at $179.05 on Wednesday. Neurocrine Biosciences, Inc. has a twelve month low of $122.14 and a twelve month high of $181.18. The company has a market cap of $18.00 billion, a PE ratio of 27.59, a P/E/G ratio of 0.69 and a beta of 0.39. The company’s 50 day moving average is $164.65 and its two-hundred day moving average is $144.28.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on NBIX shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $185.00 price target on shares of Neurocrine Biosciences in a report on Monday, April 6th. Wall Street Zen raised Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 25th. Guggenheim raised their price objective on Neurocrine Biosciences from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday. BMO Capital Markets boosted their target price on Neurocrine Biosciences from $144.00 to $170.00 and gave the stock a “market perform” rating in a research note on Monday, July 13th. Finally, Weiss Ratings lowered Neurocrine Biosciences from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, July 10th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Neurocrine Biosciences presently has an average rating of “Moderate Buy” and an average price target of $194.05.

Insider Buying and Selling at Neurocrine Biosciences

In other news, insider Ingrid Delaet sold 4,367 shares of Neurocrine Biosciences stock in a transaction on Friday, July 10th. The shares were sold at an average price of $181.02, for a total transaction of $790,514.34. Following the completion of the sale, the insider directly owned 16,225 shares in the company, valued at approximately $2,937,049.50. The trade was a 21.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Julie Cooke sold 36,937 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $156.22, for a total transaction of $5,770,298.14. Following the sale, the insider directly owned 22,374 shares in the company, valued at $3,495,266.28. This trade represents a 62.28% 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. In the last ninety days, insiders sold 394,172 shares of company stock valued at $62,221,181. Company insiders own 4.60% of the company’s stock.

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.