Nomura Asset Management Co. Ltd. Cuts Holdings in Neurocrine Biosciences, Inc. $NBIX

Nomura Asset Management Co. Ltd. lowered its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 15.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 48,973 shares of the company’s stock after selling 8,937 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Neurocrine Biosciences were worth $6,155,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Dodge & Cox raised its holdings in Neurocrine Biosciences by 83.5% in the 1st quarter. Dodge & Cox now owns 5,534,624 shares of the company’s stock worth $612,129,000 after purchasing an additional 2,518,199 shares during the period. Los Angeles Capital Management LLC lifted its position in shares of Neurocrine Biosciences by 19,454.9% during the 2nd quarter. Los Angeles Capital Management LLC now owns 744,650 shares of the company’s stock valued at $93,595,000 after buying an additional 740,842 shares in the last quarter. Wellington Management Group LLP grew its stake in Neurocrine Biosciences by 44.0% in the 1st quarter. Wellington Management Group LLP now owns 2,097,981 shares of the company’s stock valued at $232,037,000 after acquiring an additional 640,556 shares during the period. Swedbank AB raised its position in Neurocrine Biosciences by 5,078.9% during the first quarter. Swedbank AB now owns 429,697 shares of the company’s stock worth $47,524,000 after acquiring an additional 421,400 shares during the period. Finally, Braidwell LP lifted its holdings in Neurocrine Biosciences by 32.2% during the first quarter. Braidwell LP now owns 1,191,925 shares of the company’s stock valued at $131,827,000 after purchasing an additional 290,135 shares in the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director William H. Rastetter sold 18,000 shares of the firm’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $151.82, for a total transaction of $2,732,760.00. Following the transaction, the director directly owned 40,360 shares of the company’s stock, valued at approximately $6,127,455.20. This trade represents a 30.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Kyle Gano sold 300 shares of the stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $141.97, for a total transaction of $42,591.00. Following the sale, the chief executive officer owned 140,407 shares of the company’s stock, valued at $19,933,581.79. This trade represents a 0.21% decrease in their position. The disclosure for this sale is available in the SEC filing. 4.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

NBIX has been the subject of a number of research analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Neurocrine Biosciences in a report on Wednesday, October 8th. Zacks Research upgraded Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 15th. UBS Group lifted their target price on shares of Neurocrine Biosciences from $188.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, October 9th. Citigroup increased their price target on shares of Neurocrine Biosciences from $175.00 to $203.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Finally, Royal Bank Of Canada lifted their target price on Neurocrine Biosciences from $156.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Neurocrine Biosciences presently has a consensus rating of “Moderate Buy” and an average target price of $170.53.

Neurocrine Biosciences Price Performance

Neurocrine Biosciences stock opened at $141.83 on Friday. The stock has a market cap of $14.14 billion, a PE ratio of 33.93, a P/E/G ratio of 0.94 and a beta of 0.22. The stock’s fifty day moving average is $142.37 and its two-hundred day moving average is $133.79. Neurocrine Biosciences, Inc. has a 1-year low of $84.23 and a 1-year high of $157.67.

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

About Neurocrine Biosciences

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.