Asset Management One Co. Ltd. Decreases Holdings in Neurocrine Biosciences, Inc. $NBIX

Asset Management One Co. Ltd. reduced its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 39.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,561 shares of the company’s stock after selling 26,624 shares during the period. Asset Management One Co. Ltd.’s holdings in Neurocrine Biosciences were worth $5,098,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Dodge & Cox lifted its stake in shares of Neurocrine Biosciences by 83.5% in the first quarter. Dodge & Cox now owns 5,534,624 shares of the company’s stock worth $612,129,000 after buying an additional 2,518,199 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Neurocrine Biosciences by 44.0% in the first quarter. Wellington Management Group LLP now owns 2,097,981 shares of the company’s stock worth $232,037,000 after buying an additional 640,556 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Neurocrine Biosciences by 3.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,539,601 shares of the company’s stock worth $170,281,000 after buying an additional 49,088 shares in the last quarter. Braidwell LP lifted its stake in shares of Neurocrine Biosciences by 32.2% in the first quarter. Braidwell LP now owns 1,191,925 shares of the company’s stock worth $131,827,000 after buying an additional 290,135 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Neurocrine Biosciences by 8.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,159,367 shares of the company’s stock worth $128,226,000 after buying an additional 89,271 shares in the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 106,322 shares of Neurocrine Biosciences stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $126.41, for a total transaction of $13,440,164.02. Following the completion of the sale, the director directly owned 514,596 shares in the company, valued at $65,050,080.36. This trade represents a 17.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Wedbush reissued an “outperform” rating on shares of Neurocrine Biosciences in a research note on Monday, September 22nd. The Goldman Sachs Group assumed coverage on shares of Neurocrine Biosciences in a research note on Thursday, July 10th. They issued a “buy” rating and a $182.00 price target on the stock. Piper Sandler raised their price objective on shares of Neurocrine Biosciences from $154.00 to $175.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. UBS Group raised their price objective on shares of Neurocrine Biosciences from $188.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, October 9th. Finally, Wall Street Zen upgraded shares of Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 2nd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $164.32.

Neurocrine Biosciences Price Performance

Shares of NBIX opened at $147.38 on Wednesday. Neurocrine Biosciences, Inc. has a 1-year low of $84.23 and a 1-year high of $154.61. The stock has a market cap of $14.62 billion, a PE ratio of 43.60, a P/E/G ratio of 1.02 and a beta of 0.21. The firm has a 50-day simple moving average of $140.54 and a two-hundred day simple moving average of $128.79.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.46. Neurocrine Biosciences had a net margin of 13.88% and a return on equity of 13.22%. The business had revenue of $794.90 million during the quarter, compared to analysts’ expectations of $746.61 million. During the same period last year, the business earned $1.81 earnings per share. The business’s revenue for the quarter was up 27.8% on a year-over-year basis. As a group, sell-side analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal 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.