Nissay Asset Management Corp Japan ADV grew its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 15.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 8,855 shares of the company’s stock after purchasing an additional 1,159 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Neurocrine Biosciences were worth $1,080,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in NBIX. Norges Bank bought a new position in shares of Neurocrine Biosciences during the fourth quarter valued at $84,478,000. First Trust Advisors LP lifted its holdings in shares of Neurocrine Biosciences by 46.1% during the first quarter. First Trust Advisors LP now owns 938,378 shares of the company’s stock valued at $81,217,000 after purchasing an additional 296,167 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Neurocrine Biosciences by 86.0% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 553,664 shares of the company’s stock valued at $47,920,000 after purchasing an additional 256,002 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Neurocrine Biosciences by 3.5% during the first quarter. Janus Henderson Group PLC now owns 7,629,199 shares of the company’s stock valued at $660,308,000 after purchasing an additional 255,687 shares in the last quarter. Finally, Orbimed Advisors LLC lifted its holdings in shares of Neurocrine Biosciences by 23.4% during the first quarter. Orbimed Advisors LLC now owns 1,155,015 shares of the company’s stock valued at $99,967,000 after purchasing an additional 219,045 shares in the last quarter. 96.93% of the stock is currently owned by institutional investors and hedge funds.
Shares of NBIX opened at $120.36 on Friday. The company has a quick ratio of 6.75, a current ratio of 6.90 and a debt-to-equity ratio of 0.71. The business has a 50-day simple moving average of $126.27 and a two-hundred day simple moving average of $107.84. The stock has a market cap of $11.18 billion, a price-to-earnings ratio of 65.41 and a beta of 1.34. Neurocrine Biosciences, Inc. has a 52 week low of $72.14 and a 52 week high of $136.26.
Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.26. Neurocrine Biosciences had a return on equity of 37.53% and a net margin of 19.90%. The business had revenue of $237.10 million during the quarter, compared to analysts’ expectations of $226.29 million. During the same quarter in the prior year, the business posted $0.29 earnings per share. The business’s quarterly revenue was up 71.3% on a year-over-year basis. On average, equities analysts anticipate that Neurocrine Biosciences, Inc. will post 3.06 earnings per share for the current fiscal year.
In related news, insider Darin Lippoldt sold 1,657 shares of the stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $136.02, for a total transaction of $225,385.14. Following the completion of the sale, the insider now owns 27,678 shares in the company, valued at $3,764,761.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dimitri E. Grigoriadis sold 8,682 shares of the stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $105.44, for a total value of $915,430.08. Following the sale, the insider now owns 104,741 shares of the company’s stock, valued at approximately $11,043,891.04. The disclosure for this sale can be found here. Insiders have sold 96,894 shares of company stock valued at $11,119,097 in the last quarter. 4.30% of the stock is currently owned by company insiders.
A number of research analysts have weighed in on the company. HC Wainwright reissued a “buy” rating and issued a $131.00 target price (up previously from $125.00) on shares of Neurocrine Biosciences in a report on Wednesday, June 17th. Oppenheimer increased their target price on Neurocrine Biosciences from $142.00 to $152.00 and gave the company an “outperform” rating in a report on Friday, July 17th. Mizuho increased their target price on Neurocrine Biosciences from $105.00 to $127.00 and gave the company a “neutral” rating in a report on Thursday, July 23rd. Piper Sandler reissued a “buy” rating and issued a $126.00 target price on shares of Neurocrine Biosciences in a report on Monday, June 1st. Finally, Royal Bank of Canada increased their target price on Neurocrine Biosciences from $116.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, June 18th. They noted that the move was a valuation call. Six investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $135.47.
Neurocrine Biosciences Company Profile
Neurocrine Biosciences, Inc discovers and develops pharmaceuticals for the treatment of neurological and endocrine-related diseases and disorders in the United States. The company offers INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor (VMAT2), which is used for the treatment of movement disorders; ORILISSA, a gonadotropin-releasing hormone (GnRH) antagonist for use in women's health.
Further Reading: Capital Gains Distribution
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