Meiji Yasuda Asset Management Co Ltd. Purchases 976 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Meiji Yasuda Asset Management Co Ltd. grew its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 15.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,284 shares of the company’s stock after acquiring an additional 976 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Neurocrine Biosciences were worth $1,003,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mather Group LLC. bought a new position in Neurocrine Biosciences during the first quarter valued at approximately $26,000. RFP Financial Group LLC grew its stake in Neurocrine Biosciences by 346.5% during the first quarter. RFP Financial Group LLC now owns 192 shares of the company’s stock valued at $26,000 after acquiring an additional 149 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in Neurocrine Biosciences during the second quarter valued at $28,000. Innealta Capital LLC purchased a new position in Neurocrine Biosciences during the second quarter valued at $30,000. Finally, New Covenant Trust Company N.A. purchased a new position in Neurocrine Biosciences during the first quarter valued at $32,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Trading Up 0.5 %

Shares of Neurocrine Biosciences stock opened at $120.46 on Friday. Neurocrine Biosciences, Inc. has a 12-month low of $103.63 and a 12-month high of $157.98. The firm has a market capitalization of $12.12 billion, a price-to-earnings ratio of 33.18 and a beta of 0.37. The firm’s 50 day simple moving average is $139.07 and its two-hundred day simple moving average is $138.24.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.52). Neurocrine Biosciences had a net margin of 16.00% and a return on equity of 14.86%. The company had revenue of $590.20 million for the quarter, compared to analyst estimates of $545.98 million. During the same quarter in the previous year, the company posted $0.95 EPS. The company’s revenue for the quarter was up 30.4% compared to the same quarter last year. On average, sell-side analysts predict that Neurocrine Biosciences, Inc. will post 4.19 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NBIX. Robert W. Baird boosted their target price on shares of Neurocrine Biosciences from $157.00 to $180.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Jefferies Financial Group upped their price target on shares of Neurocrine Biosciences from $177.00 to $189.00 and gave the company a “buy” rating in a report on Monday, August 19th. Guggenheim upped their price target on shares of Neurocrine Biosciences from $170.00 to $180.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Royal Bank of Canada cut their price target on shares of Neurocrine Biosciences from $143.00 to $136.00 and set a “sector perform” rating on the stock in a report on Thursday, August 29th. Finally, BMO Capital Markets cut their price target on shares of Neurocrine Biosciences from $142.00 to $128.00 and set a “market perform” rating on the stock in a report on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $162.20.

Insider Transactions at Neurocrine Biosciences

In other news, Director William H. Rastetter sold 14,250 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $146.69, for a total value of $2,090,332.50. Following the sale, the director now owns 37,491 shares in the company, valued at $5,499,554.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director William H. Rastetter sold 14,250 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $146.69, for a total value of $2,090,332.50. Following the sale, the director now owns 37,491 shares in the company, valued at $5,499,554.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Matt Abernethy sold 14,100 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $150.38, for a total transaction of $2,120,358.00. Following the sale, the chief financial officer now directly owns 31,528 shares in the company, valued at $4,741,180.64. The disclosure for this sale can be found here. Insiders have sold 71,798 shares of company stock worth $10,676,096 over the last 90 days. 4.30% of the stock is currently owned by company insiders.

About Neurocrine Biosciences

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.