Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Holdings Lifted by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 0.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 232,857 shares of the company’s stock after purchasing an additional 916 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Neurocrine Biosciences were worth $31,785,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of NBIX. Cetera Investment Advisers grew its holdings in shares of Neurocrine Biosciences by 7.9% during the second quarter. Cetera Investment Advisers now owns 7,112 shares of the company’s stock valued at $979,000 after buying an additional 519 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Neurocrine Biosciences during the second quarter valued at $510,000. CWM LLC grew its holdings in shares of Neurocrine Biosciences by 15.1% during the third quarter. CWM LLC now owns 7,884 shares of the company’s stock valued at $908,000 after buying an additional 1,035 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of Neurocrine Biosciences by 29.3% during the third quarter. Exchange Traded Concepts LLC now owns 7,964 shares of the company’s stock valued at $918,000 after buying an additional 1,803 shares in the last quarter. Finally, Redhawk Wealth Advisors Inc. boosted its position in Neurocrine Biosciences by 9.1% during the third quarter. Redhawk Wealth Advisors Inc. now owns 9,639 shares of the company’s stock valued at $1,111,000 after purchasing an additional 807 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Insider Activity at Neurocrine Biosciences

In related news, insider Jude Onyia sold 2,331 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $126.29, for a total transaction of $294,381.99. Following the transaction, the insider now directly owns 15,449 shares in the company, valued at $1,951,054.21. The trade was a 13.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ingrid Delaet sold 1,091 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $135.00, for a total value of $147,285.00. Following the transaction, the insider now owns 2,507 shares in the company, valued at $338,445. This represents a 30.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 222,693 shares of company stock worth $32,718,279 over the last three months. Company insiders own 4.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on NBIX. BMO Capital Markets reduced their price objective on Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating for the company in a research report on Thursday, October 17th. Wedbush reduced their price objective on Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Morgan Stanley lifted their price objective on Neurocrine Biosciences from $170.00 to $185.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. HC Wainwright reduced their price objective on Neurocrine Biosciences from $190.00 to $185.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Finally, Canaccord Genuity Group reduced their price objective on Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $166.90.

Neurocrine Biosciences Stock Performance

Neurocrine Biosciences stock opened at $116.85 on Wednesday. The business’s 50-day simple moving average is $138.66 and its 200-day simple moving average is $131.23. The firm has a market capitalization of $11.83 billion, a PE ratio of 35.52 and a beta of 0.33. Neurocrine Biosciences, Inc. has a 52 week low of $110.95 and a 52 week high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data on Thursday, February 6th. The company reported $1.00 EPS for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.62). Neurocrine Biosciences had a return on equity of 13.45% and a net margin of 14.49%. Research analysts forecast that Neurocrine Biosciences, Inc. will post 6.53 earnings per share 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.