Sumitomo Life Insurance Co. Acquires New Stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

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Sumitomo Life Insurance Co. acquired a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 9,759 shares of the company’s stock, valued at approximately $1,200,000.

A number of other institutional investors have also recently made changes to their positions in the business. Principal Financial Group Inc. boosted its stake in shares of Neurocrine Biosciences by 1.6% in the 1st quarter. Principal Financial Group Inc. now owns 78,956 shares of the company’s stock valued at $6,547,000 after purchasing an additional 1,234 shares in the last quarter. Fox Run Management L.L.C. acquired a new stake in Neurocrine Biosciences during the 3rd quarter worth approximately $234,000. Cubist Systematic Strategies LLC bought a new position in Neurocrine Biosciences during the 2nd quarter worth approximately $216,000. Swiss National Bank raised its holdings in Neurocrine Biosciences by 1.8% during the 2nd quarter. Swiss National Bank now owns 156,500 shares of the company’s stock worth $15,375,000 after purchasing an additional 2,800 shares during the last quarter. Finally, NumerixS Investment Technologies Inc raised its holdings in Neurocrine Biosciences by 90.9% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 2,100 shares of the company’s stock worth $204,000 after purchasing an additional 1,000 shares during the last quarter.

Several research analysts have issued reports on the stock. Cantor Fitzgerald set a $150.00 price target on shares of Neurocrine Biosciences and gave the stock a “buy” rating in a report on Monday, November 5th. Morgan Stanley lowered their price objective on shares of Neurocrine Biosciences from $145.00 to $135.00 and set a “buy” rating for the company in a research note on Tuesday. Needham & Company LLC set a $125.00 price objective on shares of Neurocrine Biosciences and gave the company a “buy” rating in a research note on Wednesday, August 1st. Stifel Nicolaus initiated coverage on shares of Neurocrine Biosciences in a research note on Tuesday, August 7th. They issued a “buy” rating and a $137.00 price objective for the company. Finally, Piper Jaffray Companies set a $111.00 price objective on shares of Neurocrine Biosciences and gave the company a “buy” rating in a research note on Tuesday. One investment analyst has rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $124.88.

In related news, Director Gary A. Lyons sold 15,000 shares of the business’s stock in a transaction dated Friday, November 2nd. The shares were sold at an average price of $114.41, for a total value of $1,716,150.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Malcolm Lloyd-Smith sold 9,000 shares of the business’s stock in a transaction dated Wednesday, November 7th. The stock was sold at an average price of $110.01, for a total transaction of $990,090.00. Following the completion of the transaction, the insider now directly owns 21,018 shares in the company, valued at $2,312,190.18. The disclosure for this sale can be found here. Insiders have sold a total of 29,500 shares of company stock worth $3,295,455 over the last ninety days. Insiders own 4.30% of the company’s stock.

NBIX traded down $2.90 during mid-day trading on Friday, reaching $105.41. 744,889 shares of the stock were exchanged, compared to its average volume of 776,003. The company has a market capitalization of $9.84 billion, a price-to-earnings ratio of -65.07, a P/E/G ratio of 34.87 and a beta of 0.94. Neurocrine Biosciences, Inc. has a 1 year low of $67.32 and a 1 year high of $126.98.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data on Monday, November 5th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.04. The firm had revenue of $151.80 million for the quarter, compared to the consensus estimate of $151.51 million. Neurocrine Biosciences had a net margin of 2.40% and a return on equity of 2.54%. The business’s revenue for the quarter was up 149.7% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.13) EPS. As a group, sell-side analysts forecast that Neurocrine Biosciences, Inc. will post 0.17 EPS for the current fiscal year.

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Neurocrine Biosciences Profile

Neurocrine Biosciences, Inc discovers and develops pharmaceuticals for the treatment of neurological and endocrine-related diseases and disorders in the United States. The company's lead products include INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor (VMAT2), which is used for the treatment of movement disorders; elagolix, a gonadotropin-releasing hormone (GnRH) antagonist that is in Phase III clinical trial for use in women's health; and opicapone, a catechol-O-methyltransferase inhibitor, which is in Phase III clinical trial that is used for in adjunct therapy and preparations of levodopa/DOPA decarboxylase inhibitors for adult patients with Parkinson's disease.

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Institutional Ownership by Quarter for Neurocrine Biosciences (NASDAQ:NBIX)

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