Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Shares Sold by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd lessened its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 1.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,218 shares of the company’s stock after selling 218 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Neurocrine Biosciences were worth $1,293,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of NBIX. 1832 Asset Management L.P. grew its position in Neurocrine Biosciences by 1,370.7% in the 2nd quarter. 1832 Asset Management L.P. now owns 541,200 shares of the company’s stock valued at $74,507,000 after buying an additional 504,400 shares in the last quarter. AQR Capital Management LLC grew its position in Neurocrine Biosciences by 23.0% in the 2nd quarter. AQR Capital Management LLC now owns 1,223,055 shares of the company’s stock valued at $166,959,000 after buying an additional 228,444 shares in the last quarter. Vanguard Group Inc. grew its position in Neurocrine Biosciences by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 9,930,926 shares of the company’s stock valued at $1,369,673,000 after buying an additional 220,598 shares in the last quarter. Iron Triangle Partners LP bought a new position in Neurocrine Biosciences in the 1st quarter valued at about $30,342,000. Finally, Renaissance Technologies LLC grew its position in Neurocrine Biosciences by 9.6% in the 2nd quarter. Renaissance Technologies LLC now owns 2,468,146 shares of the company’s stock valued at $339,790,000 after buying an additional 216,500 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on NBIX shares. Needham & Company LLC restated a “hold” rating on shares of Neurocrine Biosciences in a research report on Thursday, August 29th. JPMorgan Chase & Co. raised their price objective on shares of Neurocrine Biosciences from $173.00 to $181.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Piper Sandler upgraded shares of Neurocrine Biosciences from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $131.00 to $159.00 in a research report on Thursday, August 29th. BMO Capital Markets reduced their price objective on shares of 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. Finally, Raymond James restated an “outperform” rating and set a $155.00 price objective on shares of Neurocrine Biosciences in a research report on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Neurocrine Biosciences presently has a consensus rating of “Moderate Buy” and a consensus price target of $163.91.

Neurocrine Biosciences Stock Performance

Shares of NBIX opened at $116.78 on Wednesday. The firm has a market cap of $11.75 billion, a PE ratio of 32.17 and a beta of 0.36. The firm’s 50 day moving average price is $124.72 and its 200 day moving average price is $134.47. Neurocrine Biosciences, Inc. has a twelve month low of $103.63 and a twelve month high of $157.98.

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

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Julie Cooke sold 12,632 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $153.26, for a total transaction of $1,935,980.32. Following the transaction, the insider now owns 18,202 shares in the company, valued at $2,789,638.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director William H. Rastetter sold 14,250 shares of the firm’s 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 approximately $5,499,554.79. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Julie Cooke sold 12,632 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $153.26, for a total transaction of $1,935,980.32. Following the completion of the sale, the insider now owns 18,202 shares in the company, valued at approximately $2,789,638.52. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 59,968 shares of company stock worth $8,999,632 over the last 90 days. Insiders own 4.30% of the company’s stock.

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.