Daiwa Securities Group Inc. Raises Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Daiwa Securities Group Inc. grew its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 7.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,481 shares of the company’s stock after purchasing an additional 451 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Neurocrine Biosciences were worth $854,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. HealthInvest Partners AB purchased a new position in shares of Neurocrine Biosciences during the fourth quarter worth about $1,662,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Neurocrine Biosciences by 128.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 44,939 shares of the company’s stock worth $5,921,000 after purchasing an additional 25,245 shares during the last quarter. Mackenzie Financial Corp grew its holdings in shares of Neurocrine Biosciences by 1.3% during the fourth quarter. Mackenzie Financial Corp now owns 96,855 shares of the company’s stock worth $12,762,000 after purchasing an additional 1,224 shares during the last quarter. Strs Ohio purchased a new position in shares of Neurocrine Biosciences during the fourth quarter worth about $1,957,000. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Neurocrine Biosciences by 5.3% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 243,935 shares of the company’s stock worth $32,141,000 after buying an additional 12,382 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Trading Down 0.8 %

NBIX stock opened at $138.97 on Thursday. Neurocrine Biosciences, Inc. has a 12-month low of $89.04 and a 12-month high of $148.37. The company has a market cap of $13.83 billion, a price-to-earnings ratio of 57.43 and a beta of 0.25. The firm has a 50 day moving average of $136.48 and a 200-day moving average of $127.62.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings data on Wednesday, February 7th. The company reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.31. Neurocrine Biosciences had a return on equity of 12.85% and a net margin of 13.23%. The firm had revenue of $515.20 million during the quarter, compared to the consensus estimate of $518.52 million. During the same period in the previous year, the firm posted $0.88 EPS. The company’s quarterly revenue was up 25.0% compared to the same quarter last year. Sell-side analysts forecast that Neurocrine Biosciences, Inc. will post 4.84 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NBIX. Mizuho raised their price target on Neurocrine Biosciences from $116.00 to $140.00 and gave the stock a “neutral” rating in a report on Thursday, February 8th. Citigroup lowered their price target on Neurocrine Biosciences from $141.00 to $140.00 and set a “neutral” rating on the stock in a report on Thursday, February 8th. JPMorgan Chase & Co. raised their price target on Neurocrine Biosciences from $148.00 to $158.00 and gave the stock an “overweight” rating in a report on Wednesday, March 20th. Wedbush reissued an “outperform” rating and set a $147.00 price target on shares of Neurocrine Biosciences in a report on Wednesday, April 17th. Finally, StockNews.com raised Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 8th. Six equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Neurocrine Biosciences has an average rating of “Moderate Buy” and an average price target of $142.38.

Insider Buying and Selling

In related news, CEO Kevin Charles Gorman sold 2,707 shares of Neurocrine Biosciences stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $140.69, for a total transaction of $380,847.83. Following the completion of the transaction, the chief executive officer now directly owns 502,188 shares in the company, valued at approximately $70,652,829.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Neurocrine Biosciences news, CEO Kevin Charles Gorman sold 2,707 shares of the business’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $140.69, for a total value of $380,847.83. Following the completion of the transaction, the chief executive officer now directly owns 502,188 shares in the company, valued at approximately $70,652,829.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David W. Boyer sold 456 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $141.96, for a total value of $64,733.76. Following the completion of the transaction, the insider now owns 4,894 shares of the company’s stock, valued at $694,752.24. The disclosure for this sale can be found here. Insiders sold 186,994 shares of company stock worth $25,806,409 in the last ninety days. Insiders own 4.40% of the company’s stock.

Neurocrine Biosciences 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.