Rakuten Investment Management Inc. Makes New Investment in Neurocrine Biosciences, Inc. $NBIX

Rakuten Investment Management Inc. purchased a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 128,736 shares of the company’s stock, valued at approximately $18,072,000. Rakuten Investment Management Inc. owned 0.13% of Neurocrine Biosciences as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Geneos Wealth Management Inc. increased its stake in Neurocrine Biosciences by 143.6% in the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after purchasing an additional 135 shares during the last quarter. Eastern Bank purchased a new stake in Neurocrine Biosciences in the 3rd quarter valued at about $27,000. Quent Capital LLC purchased a new stake in Neurocrine Biosciences in the 3rd quarter valued at about $32,000. MAI Capital Management increased its stake in shares of Neurocrine Biosciences by 101.2% during the 2nd quarter. MAI Capital Management now owns 328 shares of the company’s stock valued at $41,000 after acquiring an additional 165 shares during the last quarter. Finally, True Wealth Design LLC lifted its holdings in shares of Neurocrine Biosciences by 1,215.4% during the 2nd quarter. True Wealth Design LLC now owns 342 shares of the company’s stock worth $43,000 after acquiring an additional 316 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director George J. Morrow sold 15,000 shares of the stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $143.37, for a total value of $2,150,550.00. Following the completion of the sale, the director owned 7,068 shares of the company’s stock, valued at $1,013,339.16. This trade represents a 67.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Leslie V. Norwalk sold 1,190 shares of the business’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $155.09, for a total transaction of $184,557.10. Following the transaction, the director directly owned 6,239 shares in the company, valued at approximately $967,606.51. The trade was a 16.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 80,266 shares of company stock worth $11,400,517. Insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Trading Up 1.6%

NASDAQ:NBIX opened at $134.54 on Wednesday. The firm’s fifty day simple moving average is $144.15 and its 200 day simple moving average is $140.11. Neurocrine Biosciences, Inc. has a twelve month low of $84.23 and a twelve month high of $160.18. The firm has a market capitalization of $13.41 billion, a price-to-earnings ratio of 32.19, a PEG ratio of 0.65 and a beta of 0.28.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Tuesday, October 28th. The company reported $2.17 EPS for the quarter, beating the consensus estimate of $1.58 by $0.59. The company had revenue of $794.90 million for the quarter, compared to analyst estimates of $746.61 million. Neurocrine Biosciences had a return on equity of 15.82% and a net margin of 15.95%.The firm’s revenue was up 27.8% compared to the same quarter last year. During the same period last year, the company posted $1.81 earnings per share. On average, analysts predict that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Analyst Ratings Changes

NBIX has been the subject of a number of recent analyst reports. Mizuho boosted their target price on shares of Neurocrine Biosciences from $146.00 to $175.00 and gave the company a “neutral” rating in a report on Friday, December 12th. Truist Financial decreased their price target on shares of Neurocrine Biosciences from $172.00 to $169.00 and set a “buy” rating on the stock in a report on Thursday, January 8th. Citigroup boosted their price objective on shares of Neurocrine Biosciences from $175.00 to $203.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Needham & Company LLC increased their target price on Neurocrine Biosciences from $170.00 to $184.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Neurocrine Biosciences in a report on Wednesday, October 8th. Seventeen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $175.10.

About Neurocrine Biosciences

Neurocrine Biosciences (NASDAQ: NBIX) is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research‐driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine’s operations encompass drug discovery, clinical development and commercialization activities.

The company’s lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.