Sumitomo Mitsui Trust Group Inc. Increases Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Sumitomo Mitsui Trust Group Inc. raised its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 0.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 232,857 shares of the company’s stock after buying an additional 916 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.23% of Neurocrine Biosciences worth $31,785,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Caprock Group LLC acquired a new stake in Neurocrine Biosciences during the fourth quarter valued at approximately $236,000. Plato Investment Management Ltd raised its stake in Neurocrine Biosciences by 2,481.9% during the third quarter. Plato Investment Management Ltd now owns 10,973 shares of the company’s stock valued at $1,263,000 after buying an additional 10,548 shares in the last quarter. Swiss National Bank raised its stake in Neurocrine Biosciences by 1.4% during the third quarter. Swiss National Bank now owns 298,700 shares of the company’s stock valued at $34,416,000 after buying an additional 4,100 shares in the last quarter. Tri Ri Asset Management Corp acquired a new stake in Neurocrine Biosciences during the third quarter valued at approximately $3,236,000. Finally, KBC Group NV raised its stake in Neurocrine Biosciences by 78.3% during the third quarter. KBC Group NV now owns 18,972 shares of the company’s stock valued at $2,186,000 after buying an additional 8,332 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Guggenheim cut their price objective on Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating on the stock in a research note on Monday. Deutsche Bank Aktiengesellschaft began coverage on Neurocrine Biosciences in a research report on Tuesday. They set a “hold” rating and a $138.00 price target on the stock. HC Wainwright dropped their price target on Neurocrine Biosciences from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. William Blair reiterated an “outperform” rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. Finally, Morgan Stanley increased their price target on Neurocrine Biosciences from $170.00 to $185.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $166.90.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ NBIX opened at $116.85 on Wednesday. The stock has a fifty day moving average price of $138.66 and a two-hundred day moving average price of $131.23. The firm has a market cap of $11.83 billion, a P/E ratio of 35.52 and a beta of 0.33. Neurocrine Biosciences, Inc. has a 1 year low of $110.95 and a 1 year high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Thursday, February 6th. The company reported $1.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.62). Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.45%. On average, research analysts predict that Neurocrine Biosciences, Inc. will post 6.53 earnings per share for the current fiscal year.

Insider Transactions at Neurocrine Biosciences

In other news, Director Kevin Charles Gorman sold 146,105 shares of the firm’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $149.46, for a total transaction of $21,836,853.30. Following the completion of the sale, the director now directly owns 514,596 shares of the company’s stock, valued at $76,911,518.16. This trade represents a 22.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ingrid Delaet sold 272 shares of the firm’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $138.10, for a total value of $37,563.20. Following the sale, the insider now directly owns 2,507 shares of the company’s stock, valued at approximately $346,216.70. This represents a 9.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 222,693 shares of company stock valued at $32,718,279 in the last three months. 4.30% of the stock is currently owned by corporate insiders.

Neurocrine Biosciences Profile

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.