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

Texas Permanent School Fund Corp grew its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 2.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 87,087 shares of the company’s stock after purchasing an additional 2,211 shares during the quarter. Texas Permanent School Fund Corp owned approximately 0.09% of Neurocrine Biosciences worth $12,011,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in NBIX. Mediolanum International Funds Ltd purchased a new stake in Neurocrine Biosciences in the first quarter worth about $1,351,000. BI Asset Management Fondsmaeglerselskab A S lifted its stake in Neurocrine Biosciences by 33.4% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,937 shares of the company’s stock worth $681,000 after acquiring an additional 1,235 shares during the period. Central Pacific Bank Trust Division purchased a new stake in Neurocrine Biosciences in the first quarter worth about $891,000. Daiwa Securities Group Inc. lifted its stake in Neurocrine Biosciences by 32.5% in the first quarter. Daiwa Securities Group Inc. now owns 8,590 shares of the company’s stock worth $1,185,000 after acquiring an additional 2,109 shares during the period. Finally, Fidelis Capital Partners LLC purchased a new stake in Neurocrine Biosciences in the first quarter worth about $99,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Eric Benevich sold 19,818 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $133.36, for a total transaction of $2,642,928.48. Following the transaction, the insider now owns 40,778 shares in the company, valued at approximately $5,438,154.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Stephen A. Sherwin sold 40,000 shares of the stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $133.46, for a total value of $5,338,400.00. Following the completion of the transaction, the director now directly owns 26,504 shares of the company’s stock, valued at approximately $3,537,223.84. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Eric Benevich sold 19,818 shares of the stock in a transaction on Monday, April 15th. The shares were sold at an average price of $133.36, for a total value of $2,642,928.48. Following the completion of the transaction, the insider now directly owns 40,778 shares of the company’s stock, valued at $5,438,154.08. The disclosure for this sale can be found here. Insiders have sold 98,697 shares of company stock worth $13,377,515 in the last quarter. Corporate insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Trading Up 0.6 %

Neurocrine Biosciences stock traded up $0.85 during mid-day trading on Friday, hitting $147.35. The company had a trading volume of 18,667 shares, compared to its average volume of 819,798. Neurocrine Biosciences, Inc. has a 12-month low of $94.16 and a 12-month high of $148.75. The company’s fifty day moving average is $137.87 and its 200-day moving average is $136.83. The company has a market capitalization of $14.83 billion, a price-to-earnings ratio of 40.36 and a beta of 0.37.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.42 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.62). Neurocrine Biosciences had a return on equity of 17.45% and a net margin of 18.65%. The company had revenue of $515.30 million during the quarter, compared to analysts’ expectations of $512.21 million. As a group, sell-side analysts expect that Neurocrine Biosciences, Inc. will post 4.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

NBIX has been the subject of a number of recent research reports. Morgan Stanley reiterated an “overweight” rating and issued a $160.00 target price on shares of Neurocrine Biosciences in a report on Wednesday, June 12th. Needham & Company LLC reiterated a “hold” rating on shares of Neurocrine Biosciences in a report on Wednesday, May 1st. Evercore ISI initiated coverage on shares of Neurocrine Biosciences in a report on Tuesday, May 14th. They issued an “outperform” rating and a $175.00 target price for the company. Barclays boosted their target price on shares of Neurocrine Biosciences from $150.00 to $169.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Finally, Wedbush restated an “outperform” rating and set a $152.00 price objective on shares of Neurocrine Biosciences in a report on Wednesday, May 29th. Six equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $152.58.

Neurocrine Biosciences Company 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.