Louisiana State Employees Retirement System Buys New Position in Neurocrine Biosciences, Inc. $NBIX

Louisiana State Employees Retirement System bought a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 29,100 shares of the company’s stock, valued at approximately $3,834,000.

A number of other large investors also recently modified their holdings of NBIX. Huntington National Bank boosted its position in shares of Neurocrine Biosciences by 12.6% in the fourth quarter. Huntington National Bank now owns 678 shares of the company’s stock valued at $96,000 after acquiring an additional 76 shares during the period. Perigon Wealth Management LLC increased its position in Neurocrine Biosciences by 3.1% during the fourth quarter. Perigon Wealth Management LLC now owns 2,590 shares of the company’s stock worth $367,000 after acquiring an additional 78 shares during the period. Motley Fool Asset Management LLC increased its position in Neurocrine Biosciences by 4.8% during the fourth quarter. Motley Fool Asset Management LLC now owns 1,693 shares of the company’s stock worth $240,000 after acquiring an additional 78 shares during the period. Main Management ETF Advisors LLC raised its stake in Neurocrine Biosciences by 1.0% during the 4th quarter. Main Management ETF Advisors LLC now owns 7,830 shares of the company’s stock valued at $1,111,000 after purchasing an additional 80 shares during the last quarter. Finally, Signaturefd LLC boosted its holdings in Neurocrine Biosciences by 4.5% in the 4th quarter. Signaturefd LLC now owns 1,925 shares of the company’s stock valued at $273,000 after purchasing an additional 83 shares during the period. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Neurocrine Biosciences Stock Performance

Shares of NBIX stock opened at $168.52 on Friday. The firm has a fifty day moving average of $151.99 and a 200-day moving average of $141.24. The stock has a market cap of $16.94 billion, a price-to-earnings ratio of 25.97, a P/E/G ratio of 0.67 and a beta of 0.40. Neurocrine Biosciences, Inc. has a 52-week low of $122.14 and a 52-week high of $169.57.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Zacks Research upgraded shares of Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 23rd. Royal Bank Of Canada upped their price objective on shares of Neurocrine Biosciences from $180.00 to $183.00 and gave the company an “outperform” rating in a research report on Friday, May 29th. Canaccord Genuity Group increased their target price on shares of Neurocrine Biosciences from $164.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, April 7th. Wedbush lifted their target price on Neurocrine Biosciences from $166.00 to $176.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Finally, The Goldman Sachs Group assumed coverage on Neurocrine Biosciences in a research note on Tuesday, June 2nd. They set a “buy” rating and a $213.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Neurocrine Biosciences presently has an average rating of “Moderate Buy” and a consensus price target of $187.52.

Insiders Place Their Bets

In related news, insider Ingrid Delaet sold 2,261 shares of the stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $156.71, for a total value of $354,321.31. Following the completion of the transaction, the insider owned 16,225 shares of the company’s stock, valued at $2,542,619.75. This represents a 12.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jude Onyia sold 11,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $160.25, for a total transaction of $1,762,750.00. Following the transaction, the insider owned 25,846 shares of the company’s stock, valued at approximately $4,141,821.50. This represents a 29.85% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 355,234 shares of company stock valued at $55,330,060 over the last 90 days. 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.