Retirement Systems of Alabama Sells 1,549 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Retirement Systems of Alabama reduced its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 1.2% during the third quarter, Holdings Channel reports. The institutional investor owned 122,661 shares of the company’s stock after selling 1,549 shares during the quarter. Retirement Systems of Alabama’s holdings in Neurocrine Biosciences were worth $14,133,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of NBIX. Sequoia Financial Advisors LLC bought a new position in shares of Neurocrine Biosciences during the second quarter valued at about $207,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Neurocrine Biosciences by 34.0% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 6,357 shares of the company’s stock valued at $875,000 after buying an additional 1,613 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Neurocrine Biosciences by 6.6% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 2,710 shares of the company’s stock worth $373,000 after purchasing an additional 168 shares during the period. Pallas Capital Advisors LLC boosted its holdings in shares of Neurocrine Biosciences by 26.4% during the second quarter. Pallas Capital Advisors LLC now owns 3,098 shares of the company’s stock worth $447,000 after purchasing an additional 647 shares during the period. Finally, Summit Global Investments boosted its holdings in shares of Neurocrine Biosciences by 56.8% during the second quarter. Summit Global Investments now owns 77,601 shares of the company’s stock worth $10,683,000 after purchasing an additional 28,124 shares during the period. 92.59% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on NBIX shares. BMO Capital Markets dropped their target price on shares of Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating for the company in a report on Thursday, October 17th. Cantor Fitzgerald restated an “overweight” rating and issued a $155.00 price objective on shares of Neurocrine Biosciences in a report on Monday, September 16th. Barclays lowered their target price on shares of Neurocrine Biosciences from $180.00 to $160.00 and set an “overweight” rating for the company in a report on Monday, September 9th. Raymond James reissued an “outperform” rating and issued a $155.00 price target on shares of Neurocrine Biosciences in a research report on Thursday, October 10th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Neurocrine Biosciences in a research report on Monday, November 11th. Five investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $165.18.

Neurocrine Biosciences Trading Down 0.1 %

Shares of NBIX opened at $126.70 on Monday. The firm has a market cap of $12.83 billion, a PE ratio of 33.97 and a beta of 0.34. The firm has a fifty day simple moving average of $121.75 and a two-hundred day simple moving average of $130.62. Neurocrine Biosciences, Inc. has a 1-year low of $110.95 and a 1-year high of $157.98.

Insider Buying and Selling at Neurocrine Biosciences

In other news, insider Jude Onyia sold 2,331 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $126.29, for a total transaction of $294,381.99. Following the completion of the sale, the insider now owns 15,449 shares of the company’s stock, valued at $1,951,054.21. The trade was a 13.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 4.30% of the company’s stock.

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.