Neurocrine Biosciences, Inc. $NBIX Position Reduced by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. trimmed its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 6.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 221,290 shares of the company’s stock after selling 14,198 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.22% of Neurocrine Biosciences worth $31,065,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in shares of Neurocrine Biosciences by 59.6% in the second quarter. JPMorgan Chase & Co. now owns 4,261,747 shares of the company’s stock valued at $535,659,000 after buying an additional 1,590,749 shares during the period. Norges Bank bought a new stake in Neurocrine Biosciences in the second quarter worth about $122,278,000. Los Angeles Capital Management LLC lifted its holdings in Neurocrine Biosciences by 19,454.9% in the 2nd quarter. Los Angeles Capital Management LLC now owns 744,650 shares of the company’s stock valued at $93,595,000 after acquiring an additional 740,842 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Neurocrine Biosciences by 40.5% during the 2nd quarter. AQR Capital Management LLC now owns 1,510,015 shares of the company’s stock valued at $189,794,000 after purchasing an additional 435,385 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. acquired a new position in shares of Neurocrine Biosciences in the 2nd quarter worth approximately $42,933,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Neurocrine Biosciences Stock Down 0.7%

Shares of NASDAQ:NBIX opened at $132.39 on Friday. The company’s fifty day moving average is $144.76 and its two-hundred day moving average is $139.88. Neurocrine Biosciences, Inc. has a 12-month low of $84.23 and a 12-month high of $160.18. The company has a market cap of $13.20 billion, a P/E ratio of 31.67, a price-to-earnings-growth ratio of 0.65 and a beta of 0.28.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.59. The business had revenue of $794.90 million for the quarter, compared to the consensus estimate of $746.61 million. Neurocrine Biosciences had a return on equity of 15.82% and a net margin of 15.95%.Neurocrine Biosciences’s revenue for the quarter was up 27.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.81 earnings per share. Equities research analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Kyle Gano sold 300 shares of the stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $141.97, for a total value of $42,591.00. Following the completion of the sale, the chief executive officer directly owned 140,407 shares of the company’s stock, valued at $19,933,581.79. This represents a 0.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Darin Lippoldt sold 4,376 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $159.65, for a total transaction of $698,628.40. Following the sale, the insider owned 43,405 shares of the company’s stock, valued at approximately $6,929,608.25. This represents a 9.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 43,866 shares of company stock worth $6,570,237 over the last ninety days. 4.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Neurocrine Biosciences in a research note on Wednesday, October 8th. Wedbush reaffirmed an “outperform” rating on shares of Neurocrine Biosciences in a report on Monday, September 22nd. Wall Street Zen lowered Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 10th. Stifel Nicolaus lifted their target price on Neurocrine Biosciences from $183.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Finally, Zacks Research downgraded Neurocrine Biosciences from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Seventeen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $175.10.

Neurocrine Biosciences Profile

Neurocrine Biosciences (NASDAQ: NBIX) is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research‐driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine’s operations encompass drug discovery, clinical development and commercialization activities.

The company’s lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.