Nissay Asset Management Corp Japan ADV Buys 146 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Nissay Asset Management Corp Japan ADV raised its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 1.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,186 shares of the company’s stock after acquiring an additional 146 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Neurocrine Biosciences were worth $1,699,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Golden State Wealth Management LLC bought a new position in shares of Neurocrine Biosciences during the fourth quarter valued at $25,000. Huntington National Bank lifted its holdings in shares of Neurocrine Biosciences by 73.5% during the fourth quarter. Huntington National Bank now owns 229 shares of the company’s stock valued at $31,000 after acquiring an additional 97 shares during the period. Brooklyn Investment Group lifted its holdings in shares of Neurocrine Biosciences by 99.1% during the fourth quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock valued at $32,000 after acquiring an additional 115 shares during the period. GeoWealth Management LLC lifted its holdings in shares of Neurocrine Biosciences by 65.4% during the fourth quarter. GeoWealth Management LLC now owns 258 shares of the company’s stock valued at $35,000 after acquiring an additional 102 shares during the period. Finally, Lindbrook Capital LLC lifted its holdings in shares of Neurocrine Biosciences by 53.5% during the fourth quarter. Lindbrook Capital LLC now owns 373 shares of the company’s stock valued at $51,000 after acquiring an additional 130 shares during the period. 92.59% of the stock is owned by institutional investors.

Neurocrine Biosciences Stock Up 0.6%

Shares of NBIX stock opened at $121.02 on Friday. Neurocrine Biosciences, Inc. has a 12 month low of $84.23 and a 12 month high of $157.98. 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. The stock has a 50-day moving average price of $107.02 and a 200 day moving average price of $121.91.

Neurocrine Biosciences (NASDAQ:NBIX) last issued 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). Neurocrine Biosciences had a return on equity of 13.38% and a net margin of 14.49%. The company had revenue of $572.60 million for the quarter, compared to the consensus estimate of $587.06 million. During the same quarter last year, the business posted $1.20 EPS. Neurocrine Biosciences’s quarterly revenue was up 11.1% on a year-over-year basis. Sell-side analysts predict that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Neurocrine Biosciences declared that its Board of Directors has initiated a stock buyback plan on Friday, February 21st that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to repurchase up to 4.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director William H. Rastetter sold 30,000 shares of Neurocrine Biosciences stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $110.20, for a total transaction of $3,306,000.00. Following 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 4.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on NBIX shares. Royal Bank of Canada raised their target price on Neurocrine Biosciences from $137.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday, May 6th. Bank of America lowered their target price on Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating for the company in a research note on Friday, February 7th. UBS Group raised their target price on Neurocrine Biosciences from $137.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday, May 6th. Morgan Stanley restated an “overweight” rating and issued a $150.00 target price (down from $185.00) on shares of Neurocrine Biosciences in a research note on Friday, March 7th. Finally, Piper Sandler restated an “overweight” rating and issued a $154.00 target price (down from $160.00) on shares of Neurocrine Biosciences in a research note on Tuesday, May 6th. Three analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $162.00.

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.