Nomura Holdings Inc. Grows Stock Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Nomura Holdings Inc. grew its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 16.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,434 shares of the company’s stock after purchasing an additional 1,934 shares during the quarter. Nomura Holdings Inc.’s holdings in Neurocrine Biosciences were worth $1,834,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Neurocrine Biosciences by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 10,119,641 shares of the company’s stock worth $1,381,331,000 after purchasing an additional 122,681 shares in the last quarter. Dodge & Cox lifted its stake in Neurocrine Biosciences by 134.2% in the 4th quarter. Dodge & Cox now owns 3,016,425 shares of the company’s stock worth $411,742,000 after purchasing an additional 1,728,605 shares in the last quarter. AQR Capital Management LLC lifted its stake in Neurocrine Biosciences by 2.9% in the 4th quarter. AQR Capital Management LLC now owns 1,896,891 shares of the company’s stock worth $258,926,000 after purchasing an additional 53,610 shares in the last quarter. Geode Capital Management LLC lifted its stake in Neurocrine Biosciences by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 1,875,062 shares of the company’s stock worth $255,523,000 after purchasing an additional 15,830 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in Neurocrine Biosciences by 102.9% in the 4th quarter. Wellington Management Group LLP now owns 1,457,425 shares of the company’s stock worth $198,939,000 after purchasing an additional 739,199 shares in the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on NBIX. JPMorgan Chase & Co. raised their target price on shares of Neurocrine Biosciences from $183.00 to $184.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 26th. Evercore ISI reduced their price target on shares of Neurocrine Biosciences from $190.00 to $185.00 and set an “outperform” rating on the stock in a research report on Thursday, April 24th. Guggenheim lifted their price target on shares of Neurocrine Biosciences from $155.00 to $165.00 and gave the company a “buy” rating in a research report on Tuesday, May 6th. Wedbush reaffirmed an “outperform” rating on shares of Neurocrine Biosciences in a research report on Tuesday, May 6th. Finally, Needham & Company LLC lifted their price target on shares of Neurocrine Biosciences from $138.00 to $139.00 and gave the company a “buy” rating in a research report on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $162.00.

Neurocrine Biosciences Stock Up 0.6%

Shares of NASDAQ NBIX opened at $121.02 on Friday. The firm has a market cap of $11.98 billion, a price-to-earnings ratio of 36.78, a PEG ratio of 0.77 and a beta of 0.26. Neurocrine Biosciences, Inc. has a 52-week low of $84.23 and a 52-week high of $157.98. The business’s 50 day moving average is $107.02 and its two-hundred day moving average is $121.91.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results on Monday, May 5th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.62). The firm had revenue of $572.60 million during the quarter, compared to analysts’ expectations of $587.06 million. Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.38%. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.20 EPS. Analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences declared that its board has approved a stock buyback program on Friday, February 21st that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to reacquire up to 4.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other Neurocrine Biosciences news, Director William H. Rastetter sold 30,000 shares of the business’s stock in a transaction on Monday, May 5th. The shares were sold at an average price of $110.20, for a total value of $3,306,000.00. Following the completion of the transaction, the director now owns 37,491 shares in the company, valued at $4,131,508.20. The trade was a 44.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 4.80% of the company’s stock.

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.