Nomura Asset Management Co. Ltd. Sells 2,649 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Nomura Asset Management Co. Ltd. trimmed its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 4.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,626 shares of the company’s stock after selling 2,649 shares during the period. Nomura Asset Management Co. Ltd. owned about 0.05% of Neurocrine Biosciences worth $7,320,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in Neurocrine Biosciences in the fourth quarter valued at about $115,193,000. Thrivent Financial for Lutherans raised its holdings in shares of Neurocrine Biosciences by 2,759.4% in the 4th quarter. Thrivent Financial for Lutherans now owns 737,772 shares of the company’s stock worth $100,705,000 after purchasing an additional 711,970 shares during the period. State Street Corp grew its holdings in Neurocrine Biosciences by 11.7% during the third quarter. State Street Corp now owns 5,148,293 shares of the company’s stock valued at $593,186,000 after purchasing an additional 539,936 shares during the period. Jennison Associates LLC increased its position in Neurocrine Biosciences by 145.1% in the fourth quarter. Jennison Associates LLC now owns 820,694 shares of the company’s stock worth $112,025,000 after buying an additional 485,894 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Neurocrine Biosciences in the fourth quarter valued at $44,403,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Kevin Charles Gorman sold 2,707 shares of Neurocrine Biosciences stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $152.92, for a total transaction of $413,954.44. Following the completion of the transaction, the director now directly owns 517,030 shares of the company’s stock, valued at $79,064,227.60. This trade represents a 0.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Julie Cooke sold 1,551 shares of the company’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $116.78, for a total transaction of $181,125.78. Following the completion of the sale, the insider now owns 19,544 shares in the company, valued at approximately $2,282,348.32. This trade represents a 7.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 232,906 shares of company stock worth $33,869,030 in the last quarter. 4.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on NBIX. Wedbush decreased their price objective on Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating for the company in a report on Friday, February 7th. William Blair reiterated an “outperform” rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. Bank of America lowered their price target on shares of Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Barclays lifted their price objective on shares of Neurocrine Biosciences from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, December 23rd. Finally, StockNews.com downgraded Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 20th. Five research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $165.38.

Neurocrine Biosciences Trading Down 2.3 %

Shares of Neurocrine Biosciences stock opened at $110.60 on Tuesday. Neurocrine Biosciences, Inc. has a 12-month low of $105.18 and a 12-month high of $157.98. The company has a market cap of $11.03 billion, a P/E ratio of 33.62, a PEG ratio of 0.77 and a beta of 0.35. The company’s fifty day simple moving average is $123.51 and its two-hundred day simple moving average is $124.89.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings results on Thursday, February 6th. The company reported $1.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.62). Neurocrine Biosciences had a return on equity of 13.38% and a net margin of 14.49%. Analysts predict that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences announced that its board has approved a stock buyback program on Friday, February 21st that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 4.2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

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.