Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Boosts Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Posted by Defense World Staff on May 5th, 2023

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX – Get Rating) by 11.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,647 shares of the company’s stock after acquiring an additional 3,070 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Neurocrine Biosciences were worth $3,680,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of NBIX. Los Angeles Capital Management LLC purchased a new stake in shares of Neurocrine Biosciences during the 3rd quarter worth about $84,115,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Neurocrine Biosciences by 379.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 539,039 shares of the company’s stock worth $57,251,000 after acquiring an additional 426,675 shares in the last quarter. Wellington Management Group LLP purchased a new stake in shares of Neurocrine Biosciences during the 1st quarter worth about $36,508,000. Two Sigma Investments LP boosted its stake in shares of Neurocrine Biosciences by 1,458.5% during the 3rd quarter. Two Sigma Investments LP now owns 368,820 shares of the company’s stock worth $39,172,000 after acquiring an additional 345,155 shares in the last quarter. Finally, Tri Locum Partners LP purchased a new stake in shares of Neurocrine Biosciences during the 3rd quarter worth about $20,859,000. 92.58% of the stock is owned by hedge funds and other institutional investors.

Neurocrine Biosciences Stock Down 2.8 %

Shares of NASDAQ NBIX opened at $95.84 on Friday. The company has a 50 day simple moving average of $100.18 and a 200-day simple moving average of $109.58. The company has a market capitalization of $9.26 billion, a P/E ratio of 62.64, a P/E/G ratio of 0.83 and a beta of 0.49. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.83 and a quick ratio of 2.64. Neurocrine Biosciences, Inc. has a 1 year low of $75.25 and a 1 year high of $129.29.

Neurocrine Biosciences (NASDAQ:NBIX – Get Rating) last announced its quarterly earnings results on Monday, February 6th. The company reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.09. The business had revenue of $412.00 million during the quarter, compared to the consensus estimate of $408.96 million. Neurocrine Biosciences had a net margin of 4.00% and a return on equity of 4.03%. The business’s revenue was up 32.1% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.08) EPS. On average, equities research analysts predict that Neurocrine Biosciences, Inc. will post 2.63 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Neurocrine Biosciences Inc acquired 4,395,588 shares of the stock in a transaction that occurred on Thursday, February 23rd. The stock was purchased at an average price of $8.88 per share, with a total value of $39,032,821.44. Following the transaction, the insider now owns 8,575,316 shares of the company’s stock, valued at approximately $76,148,806.08. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, major shareholder Neurocrine Biosciences Inc acquired 4,395,588 shares of the stock in a transaction that occurred on Thursday, February 23rd. The stock was purchased at an average price of $8.88 per share, with a total value of $39,032,821.44. Following the transaction, the insider now owns 8,575,316 shares of the company’s stock, valued at approximately $76,148,806.08. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Matt Abernethy sold 26,328 shares of the stock in a transaction that occurred on Tuesday, February 7th. The stock was sold at an average price of $102.40, for a total transaction of $2,695,987.20. Following the transaction, the chief financial officer now directly owns 24,333 shares of the company’s stock, valued at approximately $2,491,699.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 70,936 shares of company stock valued at $7,330,598. Company insiders own 4.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on NBIX shares. Wells Fargo & Company decreased their price target on shares of Neurocrine Biosciences from $120.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 7th. Citigroup decreased their price target on shares of Neurocrine Biosciences from $127.00 to $122.00 in a research note on Thursday. Evercore ISI raised shares of Neurocrine Biosciences from an “in-line” rating to an “outperform” rating and set a $130.00 price target on the stock in a research note on Friday, March 3rd. Guggenheim raised shares of Neurocrine Biosciences from a “neutral” rating to a “buy” rating and set a $145.00 price target on the stock in a research note on Thursday. Finally, Canaccord Genuity Group raised shares of Neurocrine Biosciences from a “hold” rating to a “buy” rating and raised their price target for the company from $124.00 to $132.00 in a research note on Thursday, March 30th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $125.21.

Neurocrine Biosciences Profile

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Neurocrine Biosciences, Inc is a neuroscience-focused, biopharmaceutical company. It discovers, develops, and intends to commercialize drugs for the treatment of neurological and endocrine related diseases and disorders. The company was founded by Kevin C. Gorman and Wylie W. Vale in January 1992 and is headquartered in San Diego, CA.