Texas Permanent School Fund Corp Trims Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Texas Permanent School Fund Corp lowered its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 7.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 80,235 shares of the company’s stock after selling 6,852 shares during the period. Texas Permanent School Fund Corp owned approximately 0.08% of Neurocrine Biosciences worth $11,046,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of NBIX. Mather Group LLC. purchased a new position in Neurocrine Biosciences during the first quarter worth approximately $26,000. RFP Financial Group LLC raised its stake in Neurocrine Biosciences by 346.5% during the first quarter. RFP Financial Group LLC now owns 192 shares of the company’s stock worth $26,000 after purchasing an additional 149 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in Neurocrine Biosciences during the second quarter worth approximately $28,000. Innealta Capital LLC purchased a new position in Neurocrine Biosciences during the second quarter worth approximately $30,000. Finally, New Covenant Trust Company N.A. purchased a new position in Neurocrine Biosciences during the first quarter worth approximately $32,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on NBIX shares. Morgan Stanley increased their price target on shares of Neurocrine Biosciences from $160.00 to $170.00 and gave the stock an “overweight” rating in a research note on Friday, July 12th. Wedbush reissued an “outperform” rating and issued a $152.00 target price on shares of Neurocrine Biosciences in a research note on Wednesday, May 29th. HC Wainwright reissued a “buy” rating and issued a $190.00 target price on shares of Neurocrine Biosciences in a research note on Thursday, August 29th. UBS Group raised their target price on shares of Neurocrine Biosciences from $174.00 to $193.00 and gave the company a “buy” rating in a research note on Tuesday, May 28th. Finally, Cantor Fitzgerald cut their target price on shares of Neurocrine Biosciences from $170.00 to $155.00 and set an “overweight” rating on the stock in a research note on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $162.20.

Insider Activity

In other news, Director William H. Rastetter sold 14,250 shares of Neurocrine Biosciences stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $146.69, for a total value of $2,090,332.50. Following the completion of the transaction, the director now directly owns 37,491 shares of the company’s stock, valued at approximately $5,499,554.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Julie Cooke sold 10,000 shares of Neurocrine Biosciences stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $140.19, for a total value of $1,401,900.00. Following the completion of the transaction, the insider now directly owns 18,202 shares of the company’s stock, valued at approximately $2,551,738.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William H. Rastetter sold 14,250 shares of Neurocrine Biosciences stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $146.69, for a total transaction of $2,090,332.50. Following the completion of the sale, the director now owns 37,491 shares in the company, valued at $5,499,554.79. The disclosure for this sale can be found here. In the last three months, insiders sold 71,798 shares of company stock valued at $10,676,096. Company insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Price Performance

Shares of NBIX stock opened at $120.64 on Tuesday. The firm has a market cap of $12.18 billion, a P/E ratio of 33.23 and a beta of 0.37. Neurocrine Biosciences, Inc. has a 1-year low of $103.63 and a 1-year high of $157.98. The firm has a fifty day moving average of $142.33 and a two-hundred day moving average of $139.01.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.52). The company had revenue of $590.20 million for the quarter, compared to analyst estimates of $545.98 million. Neurocrine Biosciences had a return on equity of 14.86% and a net margin of 16.00%. Neurocrine Biosciences’s revenue was up 30.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.95 earnings per share. On average, sell-side analysts expect that Neurocrine Biosciences, Inc. will post 4.19 EPS for the current year.

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.