Sumitomo Mitsui Trust Holdings Inc. increases stock positions in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)


Sumitomo Mitsui Trust Holdings Inc. has sold its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX – Free Report) increased 5.3% during the fourth quarter, Holdings Channel.com reports. The company owned 243,935 shares of the company’s stock, having purchased an additional 12,382 shares during the period. The interests of Sumitomo Mitsui Trust Holdings Inc. in Neurocrine Biosciences were worth $32,141,000 at the time of the most recent SEC filing.

Several other hedge funds and other institutional investors have also recently increased or decreased their stakes in the company. Sunbelt Securities Inc. increased its stake in Neurocrine Biosciences by 34.3% in the third quarter. Sunbelt Securities Inc. now owns 325 shares of the company’s stock worth $37,000, after purchasing an additional 83 shares during the period. Captrust Financial Advisors grew its stake in Neurocrine Biosciences by 3.5% in the second quarter. Captrust Financial Advisors now owns 2,983 shares of the company’s stock worth $281,000 after purchasing an additional 100 shares during the period. Red Spruce Capital LLC grew its stake in Neurocrine Biosciences by 0.6% in the fourth quarter. Red Spruce Capital LLC now owns 16,026 shares of the company’s stock worth $2,112,000 after purchasing an additional 101 shares during the period. Metis Global Partners LLC grew its stake in Neurocrine Biosciences by 4.7% in the third quarter. Metis Global Partners LLC now owns 2,361 shares of the company’s stock worth $266,000 after purchasing an additional 106 shares during the period. Finally, First Republic Investment Management Inc. increased its stake in shares of Neurocrine Biosciences by 1.0% in the fourth quarter. First Republic Investment Management Inc. now owns 11,069 shares of the company’s stock worth $1,322,000, after acquiring an additional 113 shares last quarter. 92.59% of the shares are owned by hedge funds and other institutional investors.

Changes in analyst ratings

A number of stock analysts have recently commented on the company. Cantor Fitzgerald reissued an “overweight” rating and set a $155.00 target price on shares of Neurocrine Biosciences in a research note on Wednesday, April 10. Barclays raised their price target on Neurocrine Biosciences from $145.00 to $150.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 23. Wedbush reissued an “outperform” rating and issued a $147.00 target price on shares of Neurocrine Biosciences in a research note on Wednesday. JPMorgan Chase & Co. raised his price target on Neurocrine Biosciences from $148.00 to $158.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 20. Finally, StockNews.com upgraded Neurocrine Biosciences from a “buy” rating to a “strong buy” rating in a research note on Thursday, February 8th. Six equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $139.67.

Get our latest neurocrine biosciences stock report

Stock Performance of Neurocrine Biosciences

NBIX stock opened at $132.00 on Friday. Neurocrine Biosciences, Inc. has a fifty-two week low of $89.04 and a fifty-two week high of $148.37. The company’s 50-day moving average is $136.15 and its two-hundred-day moving average is $127.11. The company has a market cap of $13.14 billion, a price-to-earnings ratio of 54.55 and a beta of 0.25.

Neurocrine Biosciences (NASDAQ:NBIX – Get Free Report) posted its latest earnings results on Wednesday, February 7. The company reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.31. Neurocrine Biosciences had a return on equity of 12.85% and a net margin of 13.23%. The company had revenue of $515.20 million for the quarter, compared to the consensus estimate of $518.52 million. In the same quarter of the previous year, the company earned earnings per share of $0.88. Neurocrine Biosciences’ revenue increased 25.0% year over year. Stock analysts predict that Neurocrine Biosciences, Inc. will post earnings per share of 4.84 for the current year.

Insider transactions at Neurocrine Biosciences

In other news, insider Eiry Roberts sold 1,457 shares of the company’s stock in a transaction dated Wednesday, January 31st. The stock sold at an average price of $140.79, for a total value of $205,131.03. Following the transaction, the insider now owns 20,832 shares of the company’s stock, valued at $2,932,937.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this link. In other Neurocrine Biosciences news, insider Eiry Roberts sold 1,457 shares of the company’s stock in a transaction that occurred on Wednesday, January 31st. The stock sold at an average price of $140.79, for a total transaction of $205,131.03. Following the completion of the transaction, the insider now owns 20,832 shares in the company, valued at approximately $2,932,937.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed via this link. Also, insider Darin Lippoldt sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The shares sold at an average price of $139.86, for a total value of $1,398,600.00. Following the transaction, the insider now owns 35,882 shares of the company’s stock, valued at approximately $5,018,456.52. The explanation of this sale can be found here. Insiders sold 196,994 company shares worth $27,205,009 in the last quarter. 4.40% of the shares are currently owned by company insiders.

About neurocrine biosciences

(Free report)

Neurocrine Biosciences, Inc discovers, develops and markets pharmaceutical products 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.

Featured Stories

Would you like to see which other hedge funds own NBIX? Visit HoldingsChannel.com for the latest 13F filings and insider transactions for Neurocrine Biosciences, Inc. (NASDAQ:NBIX – Free Report).

Quarterly Institutional Ownership for Neurocrine Biosciences (NASDAQ:NBIX)



Get daily news and reviews for Neurocrine Biosciences – Enter your email address below to receive a daily digest of the latest news and analyst ratings for Neurocrine Biosciences and related companies with MarketBeat.com’s FREE daily email newsletter.