Mitsubishi UFJ Trust & Banking Corp Cuts Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Mitsubishi UFJ Trust & Banking Corp trimmed its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 3.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121,142 shares of the company’s stock after selling 4,578 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.12% of Neurocrine Biosciences worth $16,536,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cerity Partners LLC grew its position in Neurocrine Biosciences by 42.4% in the third quarter. Cerity Partners LLC now owns 39,024 shares of the company’s stock worth $4,496,000 after acquiring an additional 11,622 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of Neurocrine Biosciences by 34.1% in the 3rd quarter. Daiwa Securities Group Inc. now owns 11,798 shares of the company’s stock worth $1,360,000 after purchasing an additional 2,997 shares during the period. Fisher Asset Management LLC increased its position in shares of Neurocrine Biosciences by 7.8% during the 3rd quarter. Fisher Asset Management LLC now owns 68,270 shares of the company’s stock valued at $7,866,000 after purchasing an additional 4,930 shares during the last quarter. Bank of Montreal Can raised its holdings in Neurocrine Biosciences by 40.4% during the 3rd quarter. Bank of Montreal Can now owns 55,244 shares of the company’s stock valued at $6,356,000 after buying an additional 15,893 shares during the period. Finally, Quantbot Technologies LP bought a new stake in Neurocrine Biosciences in the third quarter worth $89,000. 92.59% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

NBIX has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Neurocrine Biosciences in a report on Tuesday, February 11th. They issued a “hold” rating and a $138.00 target price for the company. William Blair reissued an “outperform” rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. Canaccord Genuity Group cut their target price on Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. HC Wainwright reissued a “buy” rating and set a $185.00 price target on shares of Neurocrine Biosciences in a research note on Friday, February 21st. Finally, StockNews.com downgraded Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 20th. Five research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $165.38.

Insider Activity at Neurocrine Biosciences

In related news, insider Ingrid Delaet sold 272 shares of the company’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 transaction, the insider now directly owns 2,507 shares of the company’s stock, valued at $346,216.70. This represents a 9.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kevin Charles Gorman sold 5,844 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $116.69, for a total value of $681,936.36. Following the completion of the transaction, the director now owns 521,618 shares of the company’s stock, valued at $60,867,604.42. This trade represents a 1.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 233,178 shares of company stock valued at $33,906,594 in the last ninety days. Corporate insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Stock Performance

NASDAQ:NBIX opened at $113.16 on Friday. The stock has a market capitalization of $11.28 billion, a P/E ratio of 34.40, a P/E/G ratio of 0.77 and a beta of 0.35. The company’s 50-day simple moving average is $124.17 and its 200-day simple moving average is $124.90. Neurocrine Biosciences, Inc. has a fifty-two week low of $105.18 and a fifty-two week high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings results on Thursday, February 6th. The company reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.62 by ($0.62). Neurocrine Biosciences had a return on equity of 13.38% and a net margin of 14.49%. On average, research analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Neurocrine Biosciences announced that its board has approved a share buyback program on Friday, February 21st that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to buy up to 4.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Neurocrine Biosciences Company 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.