Neurocrine Biosciences, Inc. $NBIX Shares Sold by Meiji Yasuda Life Insurance Co

by · The Markets Daily

Meiji Yasuda Life Insurance Co cut its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX – Free Report) by 3.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,606 shares of the company’s stock after selling 194 shares during the period. Meiji Yasuda Life Insurance Co’s holdings in Neurocrine Biosciences were worth $620,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in NBIX. Captrust Financial Advisors increased its position in shares of Neurocrine Biosciences by 18.7% during the fourth quarter. Captrust Financial Advisors now owns 11,644 shares of the company’s stock valued at $1,589,000 after acquiring an additional 1,836 shares during the last quarter. Cetera Investment Advisers increased its position in shares of Neurocrine Biosciences by 46.5% during the fourth quarter. Cetera Investment Advisers now owns 8,169 shares of the company’s stock valued at $1,115,000 after acquiring an additional 2,593 shares during the last quarter. Deutsche Bank AG increased its position in shares of Neurocrine Biosciences by 5.5% during the fourth quarter. Deutsche Bank AG now owns 461,782 shares of the company’s stock valued at $63,033,000 after acquiring an additional 23,951 shares during the last quarter. Ethic Inc. increased its position in shares of Neurocrine Biosciences by 34.4% during the fourth quarter. Ethic Inc. now owns 4,192 shares of the company’s stock valued at $572,000 after acquiring an additional 1,073 shares during the last quarter. Finally, Focus Partners Wealth increased its position in shares of Neurocrine Biosciences by 9.5% during the fourth quarter. Focus Partners Wealth now owns 51,078 shares of the company’s stock valued at $6,972,000 after acquiring an additional 4,420 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Neurocrine Biosciences Stock Performance

Shares of NBIX stock opened at $143.80 on Tuesday. Neurocrine Biosciences, Inc. has a fifty-two week low of $84.23 and a fifty-two week high of $154.61. The stock has a market capitalization of $14.26 billion, a P/E ratio of 42.54, a price-to-earnings-growth ratio of 1.04 and a beta of 0.28. The company has a 50 day moving average price of $132.99 and a 200 day moving average price of $120.50.

Neurocrine Biosciences (NASDAQ:NBIX – Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.98 by $0.08. Neurocrine Biosciences had a net margin of 13.88% and a return on equity of 13.22%. The company had revenue of $687.50 million during the quarter, compared to analysts’ expectations of $653.09 million. During the same quarter in the previous year, the business posted $1.63 EPS. The firm’s revenue was up 16.5% on a year-over-year basis. On average, research analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Insiders Place Their Bets

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 106,322 shares of the business’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $126.41, for a total transaction of $13,440,164.02. Following the completion of the transaction, the director owned 514,596 shares in the company, valued at $65,050,080.36. The trade was a 17.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jude Onyia sold 59,819 shares of the business’s stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $130.46, for a total transaction of $7,803,986.74. Following the transaction, the insider owned 18,289 shares of the company’s stock, valued at $2,385,982.94. This trade represents a 76.58% decrease in their position. The disclosure for this sale can be found here. Insiders sold 186,960 shares of company stock worth $23,955,553 in the last 90 days. Corporate insiders own 4.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on NBIX shares. Royal Bank Of Canada lifted their price target on shares of Neurocrine Biosciences from $144.00 to $149.00 and gave the company an “outperform” rating in a research report on Friday. Wedbush lifted their price objective on shares of Neurocrine Biosciences from $137.00 to $141.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. Piper Sandler lifted their price objective on shares of Neurocrine Biosciences from $154.00 to $175.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. Guggenheim lifted their price objective on shares of Neurocrine Biosciences from $165.00 to $175.00 and gave the company a “buy” rating in a report on Friday, August 1st. Finally, UBS Group lifted their price objective on shares of Neurocrine Biosciences from $152.00 to $174.00 and gave the company a “buy” rating in a report on Wednesday, July 9th. Eighteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $160.00.

Get Our Latest Stock Report on NBIX

Neurocrine Biosciences Company Profile

(Free Report)

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.

Read More

Want to see what other hedge funds are holding NBIX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Neurocrine Biosciences, Inc. (NASDAQ:NBIX – Free Report).