Neurocrine Biosciences, Inc. $NBIX Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 2.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 211,026 shares of the company’s stock after selling 4,462 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Neurocrine Biosciences were worth $29,932,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Basecamp Wealth Advisors LLC raised its holdings in shares of Neurocrine Biosciences by 582.9% during the first quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company’s stock valued at $31,000 after acquiring an additional 204 shares in the last quarter. Raleigh Capital Management Inc. boosted its holdings in Neurocrine Biosciences by 561.8% in the third quarter. Raleigh Capital Management Inc. now owns 225 shares of the company’s stock valued at $32,000 after acquiring an additional 191 shares in the last quarter. Cassaday & Co Wealth Management LLC purchased a new position in Neurocrine Biosciences during the 1st quarter valued at $33,000. Ascentis Independent Advisors purchased a new position in Neurocrine Biosciences during the 1st quarter valued at $40,000. Finally, TrinityBridge Ltd bought a new position in Neurocrine Biosciences in the 2nd quarter worth $45,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. BMO Capital Markets dropped their target price on shares of Neurocrine Biosciences from $164.00 to $150.00 and set a “market perform” rating for the company in a research report on Monday, October 12th. Citigroup increased their price target on shares of Neurocrine Biosciences from $249.00 to $253.00 and gave the stock a “buy” rating in a research note on Thursday, September 3rd. Cantor Fitzgerald raised their price objective on shares of Neurocrine Biosciences from $210.00 to $215.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. TD Cowen raised their target price on Neurocrine Biosciences from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Finally, Truist Financial upped their price target on Neurocrine Biosciences from $200.00 to $213.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $202.32.

Key Stories Impacting Neurocrine Biosciences

Here are the key news stories impacting Neurocrine Biosciences this week:

• Positive Sentiment: Neurocrine reported third-quarter revenue of $1.12 billion, up 41% year over year and above estimates, with EPS of $3.29 versus a $1.91 consensus. The company also raised its 2026 INGREZZA net-sales outlook to $2.9–$2.925 billion, reinforcing the growth case for its leading product. Q3 results and outlook
• Positive Sentiment: New survey findings showed fewer work or school disruptions among adults with tardive dyskinesia after starting INGREZZA: the share reporting disruptions fell from 57% to 21%, and average missed days declined from 5.6 to 2.0 per month. The results may bolster confidence in the treatment’s patient benefits. INGREZZA survey findings
• Positive Sentiment: Analysts raised price targets following the earnings report, including Morgan Stanley, Canaccord Genuity, RBC and Piper Sandler. Guggenheim also lifted its target to $224 and maintained a Buy rating, adding to the supportive analyst backdrop. Guggenheim rating
• Neutral Sentiment: After a sharp post-earnings advance, some investors may be taking profits, which could weigh on the shares despite the strong operating update. A director’s sale of 300 shares was made under a pre-arranged trading plan and appears small relative to his remaining holdings.
• Negative Sentiment: A report flagged potential integration challenges and legacy liabilities related to Neurocrine’s Soleno acquisition, risks that could complicate the expected value from the deal. Soleno acquisition risks

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider David W. Boyer sold 826 shares of Neurocrine Biosciences stock in a transaction on Monday, September 14th. The stock was sold at an average price of $157.45, for a total transaction of $130,053.70. Following the completion of the transaction, the insider owned 8,722 shares in the company, valued at approximately $1,373,278.90. The trade was a 8.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Matt Abernethy sold 2,311 shares of the business’s stock in a transaction on Monday, September 14th. The stock was sold at an average price of $157.20, for a total value of $363,289.20. Following the completion of the sale, the chief financial officer directly owned 42,808 shares in the company, valued at $6,729,417.60. This trade represents a 5.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 18,137 shares of company stock valued at $2,829,332 in the last ninety days. 4.60% of the stock is currently owned by corporate insiders.

Neurocrine Biosciences Price Performance

Shares of NASDAQ NBIX opened at $159.76 on Friday. Neurocrine Biosciences, Inc. has a 1 year low of $122.14 and a 1 year high of $186.12. The firm has a 50-day moving average of $147.04 and a 200 day moving average of $147.90. The stock has a market cap of $16.17 billion, a P/E ratio of 23.70, a price-to-earnings-growth ratio of 0.74 and a beta of 0.36.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings data on Monday, November 2nd. The company reported $3.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $1.38. Neurocrine Biosciences had a net margin of 18.98% and a return on equity of 23.39%. The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the prior year, the company earned $2.04 earnings per share. The business’s revenue was up 41.3% compared to the same quarter last year. Research analysts expect that Neurocrine Biosciences, Inc. will post 7.66 earnings per share for the current fiscal year.

Neurocrine Biosciences Profile

Neurocrine Biosciences, Inc is a San Diego-based biopharmaceutical company focused on discovering, developing and commercializing medicines for neurological, neuroendocrine and psychiatric disorders. The company’s research programs target conditions in which treatments may address significant unmet medical needs.

Neurocrine’s leading product is INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor approved in the United States for the treatment of tardive dyskinesia and chorea associated with Huntington’s disease.