California Public Employees Retirement System Trims Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

California Public Employees Retirement System decreased its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 25.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 124,100 shares of the company’s stock after selling 42,576 shares during the period. California Public Employees Retirement System owned about 0.14% of Neurocrine Biosciences worth $10,933,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in NBIX. Comerica Bank grew its holdings in Neurocrine Biosciences by 69.4% in the first quarter. Comerica Bank now owns 14,656 shares of the company’s stock worth $1,338,000 after purchasing an additional 6,002 shares during the period. Mckinley Capital Management LLC Delaware grew its position in shares of Neurocrine Biosciences by 2.1% in the first quarter. Mckinley Capital Management LLC Delaware now owns 176,388 shares of the company’s stock valued at $15,539,000 after purchasing an additional 3,710 shares during the period. Rice Hall James & Associates LLC grew its position in shares of Neurocrine Biosciences by 68.5% in the first quarter. Rice Hall James & Associates LLC now owns 73,724 shares of the company’s stock valued at $6,495,000 after purchasing an additional 29,983 shares during the period. Janney Montgomery Scott LLC purchased a new stake in shares of Neurocrine Biosciences in the first quarter valued at $821,000. Finally, Zeke Capital Advisors LLC grew its position in shares of Neurocrine Biosciences by 44.2% in the first quarter. Zeke Capital Advisors LLC now owns 8,495 shares of the company’s stock valued at $748,000 after purchasing an additional 2,605 shares during the period. Hedge funds and other institutional investors own 96.14% of the company’s stock.

NBIX traded down $0.16 during trading on Friday, reaching $83.92. 502,035 shares of the company’s stock were exchanged, compared to its average volume of 915,128. The company has a debt-to-equity ratio of 0.96, a quick ratio of 8.61 and a current ratio of 8.79. Neurocrine Biosciences, Inc. has a fifty-two week low of $64.72 and a fifty-two week high of $126.98. The firm has a market capitalization of $7.68 billion, a PE ratio of 381.45 and a beta of 1.46.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings results on Monday, April 29th. The company reported ($1.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.05) by ($0.07). The firm had revenue of $138.40 million during the quarter, compared to analyst estimates of $136.77 million. Neurocrine Biosciences had a negative net margin of 7.56% and a negative return on equity of 9.14%. Neurocrine Biosciences’s quarterly revenue was up 94.7% on a year-over-year basis. During the same period last year, the firm earned ($0.47) EPS. Equities analysts forecast that Neurocrine Biosciences, Inc. will post -0.08 EPS for the current year.

Several brokerages have recently issued reports on NBIX. Zacks Investment Research raised shares of Neurocrine Biosciences from a “hold” rating to a “buy” rating and set a $90.00 price target for the company in a report on Wednesday, April 24th. BidaskClub upgraded Neurocrine Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday, May 4th. Credit Suisse Group started coverage on Neurocrine Biosciences in a research note on Monday, May 20th. They set an “outperform” rating and a $95.00 price target on the stock. Barclays restated a “buy” rating and set a $110.00 price target on shares of Neurocrine Biosciences in a research note on Friday, March 29th. Finally, Evercore ISI started coverage on Neurocrine Biosciences in a research note on Thursday, April 11th. They set an “outperform” rating on the stock. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $102.16.

In other Neurocrine Biosciences news, insider Haig P. Bozigian sold 66,667 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $80.13, for a total transaction of $5,342,026.71. Following the sale, the insider now directly owns 164,415 shares of the company’s stock, valued at approximately $13,174,573.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Haig P. Bozigian sold 17,486 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $80.03, for a total transaction of $1,399,404.58. Following the sale, the insider now directly owns 159,462 shares in the company, valued at $12,761,743.86. The disclosure for this sale can be found here. Insiders sold a total of 142,732 shares of company stock worth $11,388,472 over the last ninety days. 4.30% of the stock is currently owned by insiders.

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Neurocrine Biosciences Profile

Neurocrine Biosciences, Inc discovers and develops pharmaceuticals for the treatment of neurological and endocrine-related diseases and disorders in the United States. The company offers INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor (VMAT2), which is used for the treatment of movement disorders; ORILISSA, a gonadotropin-releasing hormone (GnRH) antagonist for use in women's health.

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Institutional Ownership by Quarter for Neurocrine Biosciences (NASDAQ:NBIX)

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