Mirae Asset Global Investments Co. Ltd. Reduces Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Posted by on May 25th, 2023

Mirae Asset Global Investments Co. Ltd. trimmed its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX – Get Rating) by 18.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,630 shares of the company’s stock after selling 5,889 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Neurocrine Biosciences were worth $3,191,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of NBIX. Rice Hall James & Associates LLC increased its stake in shares of Neurocrine Biosciences by 195.5% during the 1st quarter. Rice Hall James & Associates LLC now owns 206,755 shares of the company’s stock worth $19,383,000 after purchasing an additional 136,782 shares in the last quarter. HighTower Advisors LLC grew its stake in Neurocrine Biosciences by 48.8% in the 1st quarter. HighTower Advisors LLC now owns 5,745 shares of the company’s stock worth $544,000 after acquiring an additional 1,883 shares during the period. PNC Financial Services Group Inc. grew its stake in Neurocrine Biosciences by 27.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,150 shares of the company’s stock worth $296,000 after acquiring an additional 684 shares during the period. Acadian Asset Management LLC purchased a new stake in Neurocrine Biosciences in the 1st quarter worth approximately $27,000. Finally, Dimensional Fund Advisors LP grew its stake in Neurocrine Biosciences by 39.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 417,604 shares of the company’s stock worth $39,148,000 after acquiring an additional 117,422 shares during the period. 92.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on NBIX. Evercore ISI raised shares of Neurocrine Biosciences from an “in-line” rating to an “outperform” rating and set a $130.00 target price for the company in a research note on Friday, March 3rd. Piper Sandler decreased their price target on shares of Neurocrine Biosciences from $103.00 to $95.00 and set a “neutral” rating on the stock in a report on Tuesday, February 7th. UBS Group decreased their price target on shares of Neurocrine Biosciences from $137.00 to $125.00 and set a “buy” rating on the stock in a report on Tuesday, April 4th. 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 report on Tuesday, February 7th. Finally, Canaccord Genuity Group upgraded shares of Neurocrine Biosciences from a “hold” rating to a “buy” rating and lifted their price target for the company from $124.00 to $132.00 in a report on Thursday, March 30th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $125.21.

Insider Buying and Selling

In related news, Director William H. Rastetter sold 903 shares of Neurocrine Biosciences stock in a transaction on Wednesday, April 19th. The shares were sold at an average price of $105.00, for a total transaction of $94,815.00. Following the sale, the director now owns 34,729 shares of the company’s stock, valued at approximately $3,646,545. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director William H. Rastetter sold 6,034 shares of the business’s stock in a transaction dated Friday, April 21st. The shares were sold at an average price of $105.04, for a total value of $633,811.36. Following the completion of the sale, the director now owns 39,460 shares of the company’s stock, valued at approximately $4,144,878.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William H. Rastetter sold 903 shares of the business’s stock in a transaction dated Wednesday, April 19th. The stock was sold at an average price of $105.00, for a total transaction of $94,815.00. Following the completion of the sale, the director now directly owns 34,729 shares of the company’s stock, valued at approximately $3,646,545. The disclosure for this sale can be found here. Insiders have sold 37,034 shares of company stock valued at $3,838,922 in the last quarter. Company insiders own 4.40% of the company’s stock.

Neurocrine Biosciences Stock Performance

Neurocrine Biosciences stock opened at $92.61 on Thursday. Neurocrine Biosciences, Inc. has a 12-month low of $84.57 and a 12-month high of $129.29. The company has a market capitalization of $9.04 billion, a price-to-earnings ratio of 154.35, a price-to-earnings-growth ratio of 1.15 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 3.74. The firm’s fifty day moving average price is $99.33 and its 200 day moving average price is $107.77.

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.

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Institutional Ownership by Quarter for Neurocrine Biosciences (NASDAQ:NBIX)

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