Mirae Asset Global Investments Co. Ltd. Sells 2,781 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Mirae Asset Global Investments Co. Ltd. reduced its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 17.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,577 shares of the company’s stock after selling 2,781 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Neurocrine Biosciences were worth $1,519,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Huntington National Bank boosted its position in shares of Neurocrine Biosciences by 73.5% during the fourth quarter. Huntington National Bank now owns 229 shares of the company’s stock worth $31,000 after buying an additional 97 shares during the period. GeoWealth Management LLC boosted its position in shares of Neurocrine Biosciences by 65.4% during the fourth quarter. GeoWealth Management LLC now owns 258 shares of the company’s stock worth $35,000 after buying an additional 102 shares during the period. Golden State Wealth Management LLC boosted its position in shares of Neurocrine Biosciences by 116.9% during the first quarter. Golden State Wealth Management LLC now owns 397 shares of the company’s stock worth $44,000 after buying an additional 214 shares during the period. Versant Capital Management Inc boosted its position in shares of Neurocrine Biosciences by 404.9% during the first quarter. Versant Capital Management Inc now owns 409 shares of the company’s stock worth $45,000 after buying an additional 328 shares during the period. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of Neurocrine Biosciences during the first quarter worth about $48,000. 92.59% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on NBIX shares. HC Wainwright cut their price objective on Neurocrine Biosciences from $185.00 to $168.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Morgan Stanley reissued an “overweight” rating and set a $150.00 price target (down from $185.00) on shares of Neurocrine Biosciences in a report on Friday, March 7th. Guggenheim lifted their price target on Neurocrine Biosciences from $155.00 to $165.00 and gave the stock a “buy” rating in a report on Tuesday, May 6th. Royal Bank Of Canada reissued an “outperform” rating and set a $145.00 price target on shares of Neurocrine Biosciences in a report on Monday, June 2nd. Finally, Needham & Company LLC lifted their price target on Neurocrine Biosciences from $138.00 to $139.00 and gave the stock a “buy” rating in a report on Tuesday, May 6th. Three investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat, Neurocrine Biosciences currently has a consensus rating of “Moderate Buy” and an average price target of $162.00.

Insiders Place Their Bets

In related news, Director William H. Rastetter sold 30,000 shares of the business’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $110.20, for a total transaction of $3,306,000.00. Following the sale, the director owned 37,491 shares in the company, valued at $4,131,508.20. The trade was a 44.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kevin Charles Gorman sold 9,613 shares of the business’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $120.38, for a total value of $1,157,212.94. Following the sale, the director owned 514,596 shares in the company, valued at $61,947,066.48. This represents a 1.83% decrease in their position. The disclosure for this sale can be found here. Insiders own 4.80% of the company’s stock.

Neurocrine Biosciences Stock Performance

Shares of NBIX opened at $128.04 on Friday. Neurocrine Biosciences, Inc. has a 52-week low of $84.23 and a 52-week high of $157.98. The business’s fifty day moving average is $121.35 and its 200-day moving average is $121.83. The firm has a market cap of $12.67 billion, a price-to-earnings ratio of 43.40, a PEG ratio of 1.32 and a beta of 0.24.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.62). The firm had revenue of $572.60 million for the quarter, compared to the consensus estimate of $587.06 million. Neurocrine Biosciences had a return on equity of 11.81% and a net margin of 12.68%. The company’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.20 EPS. As a group, research analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

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.