Nomura Asset Management Co. Ltd. Decreases Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Nomura Asset Management Co. Ltd. decreased its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 4.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 53,626 shares of the company’s stock after selling 2,649 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Neurocrine Biosciences were worth $7,320,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in NBIX. Golden State Wealth Management LLC purchased a new position in Neurocrine Biosciences in the 4th quarter worth about $25,000. Brooklyn Investment Group grew its stake in shares of Neurocrine Biosciences by 99.1% in the fourth quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock worth $32,000 after acquiring an additional 115 shares during the period. Lindbrook Capital LLC raised its holdings in shares of Neurocrine Biosciences by 53.5% during the fourth quarter. Lindbrook Capital LLC now owns 373 shares of the company’s stock valued at $51,000 after purchasing an additional 130 shares during the last quarter. R Squared Ltd bought a new position in Neurocrine Biosciences during the fourth quarter valued at approximately $61,000. Finally, UMB Bank n.a. boosted its holdings in Neurocrine Biosciences by 211.6% in the fourth quarter. UMB Bank n.a. now owns 455 shares of the company’s stock worth $62,000 after purchasing an additional 309 shares during the last quarter. Institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Stock Down 2.3 %

Shares of Neurocrine Biosciences stock opened at $110.60 on Tuesday. Neurocrine Biosciences, Inc. has a twelve month low of $105.18 and a twelve month high of $157.98. The business has a 50-day moving average price of $123.51 and a 200-day moving average price of $124.89. The firm has a market cap of $11.03 billion, a price-to-earnings ratio of 33.62, a PEG ratio of 0.77 and a beta of 0.35.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings results on Thursday, February 6th. The company reported $1.00 earnings per share for the quarter, missing the consensus estimate of $1.62 by ($0.62). Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.38%. On average, equities analysts expect that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences declared that its board has approved a stock repurchase program on Friday, February 21st that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to repurchase up to 4.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other Neurocrine Biosciences news, CEO Kyle Gano sold 65,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $141.50, for a total transaction of $9,197,500.00. Following the sale, the chief executive officer now directly owns 135,392 shares of the company’s stock, valued at $19,157,968. The trade was a 32.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ingrid Delaet sold 623 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $149.29, for a total value of $93,007.67. Following the completion of the sale, the insider now directly owns 3,442 shares of the company’s stock, valued at $513,856.18. The trade was a 15.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 232,906 shares of company stock worth $33,869,030. Insiders own 4.30% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on NBIX. HC Wainwright reissued a “buy” rating and set a $185.00 price target on shares of Neurocrine Biosciences in a report on Friday, February 21st. Morgan Stanley reissued an “overweight” rating and issued a $150.00 target price (down from $185.00) on shares of Neurocrine Biosciences in a research report on Friday, March 7th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Neurocrine Biosciences in a research report on Tuesday, February 11th. They set a “hold” rating and a $138.00 price target for the company. UBS Group raised their price objective on shares of Neurocrine Biosciences from $162.00 to $176.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $160.00 target price on shares of Neurocrine Biosciences in a report on Monday, December 23rd. Five equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $165.38.

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.