Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX – Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 111,484 shares of the company’s stock, valued at approximately $18,789,000. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.11% of Neurocrine Biosciences as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank of America Corp DE grew its holdings in Neurocrine Biosciences by 10.6% in the first quarter. Bank of America Corp DE now owns 583,827 shares of the company’s stock valued at $76,913,000 after purchasing an additional 55,723 shares during the last quarter. Ruffer LLP acquired a new stake in Neurocrine Biosciences in the 4th quarter valued at about $2,479,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in Neurocrine Biosciences during the 4th quarter valued at about $1,866,000. Wesbanco Bank Inc. raised its position in Neurocrine Biosciences by 88.9% during the fourth quarter. Wesbanco Bank Inc. now owns 17,000 shares of the company’s stock worth $2,411,000 after acquiring an additional 8,000 shares during the last quarter. Finally, SEB Asset Management AB purchased a new stake in shares of Neurocrine Biosciences in the first quarter valued at about $10,483,000. Institutional investors and hedge funds own 92.59% of the company’s stock.
Neurocrine Biosciences Stock Performance
NBIX stock opened at $152.93 on Friday. The stock has a market capitalization of $15.55 billion, a P/E ratio of 22.42, a PEG ratio of 0.73 and a beta of 0.39. Neurocrine Biosciences, Inc. has a one year low of $122.14 and a one year high of $186.12. The company has a 50 day moving average price of $167.29 and a two-hundred day moving average price of $148.85.
Wall Street Analyst Weigh In
A number of research analysts have recently weighed in on the stock. Morgan Stanley dropped their price objective on shares of Neurocrine Biosciences from $196.00 to $182.00 and set an “equal weight” rating for the company in a research note on Thursday, August 13th. The Goldman Sachs Group initiated coverage on Neurocrine Biosciences in a research report on Tuesday, June 2nd. They set a “buy” rating and a $213.00 price target for the company. Wall Street Zen downgraded Neurocrine Biosciences from a “buy” rating to a “hold” rating in a research report on Sunday, August 9th. Piper Sandler increased their price objective on Neurocrine Biosciences from $207.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Finally, Wells Fargo & Company lifted their price objective on Neurocrine Biosciences from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $200.86.
Read Our Latest Research Report on Neurocrine Biosciences
Insiders Place Their Bets
In other news, insider Darin Lippoldt sold 10,000 shares of the stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $179.60, for a total transaction of $1,796,000.00. Following the transaction, the insider directly owned 54,729 shares in the company, valued at $9,829,328.40. This represents a 15.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephen A. Sherwin sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $165.32, for a total transaction of $4,133,000.00. Following the completion of the sale, the director directly owned 15,860 shares in the company, valued at $2,621,975.20. This represents a 61.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 131,524 shares of company stock valued at $21,668,924 in the last quarter. Corporate insiders own 4.60% of the company’s stock.
Neurocrine Biosciences Company Profile
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.
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