Daiwa Securities Group Inc. Purchases 8,179 Shares of Neurocrine Biosciences, Inc. $NBIX

Daiwa Securities Group Inc. increased its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 93.6% during the fourth quarter, HoldingsChannel reports. The fund owned 16,917 shares of the company’s stock after acquiring an additional 8,179 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Neurocrine Biosciences were worth $2,399,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. USA Financial Formulas bought a new position in Neurocrine Biosciences during the fourth quarter worth $25,000. Geneos Wealth Management Inc. increased its position in Neurocrine Biosciences by 143.6% during the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after acquiring an additional 135 shares during the period. Aster Capital Management DIFC Ltd bought a new position in Neurocrine Biosciences during the third quarter worth $49,000. Leonteq Securities AG bought a new position in Neurocrine Biosciences during the fourth quarter worth $58,000. Finally, Smartleaf Asset Management LLC increased its position in Neurocrine Biosciences by 112.0% during the third quarter. Smartleaf Asset Management LLC now owns 424 shares of the company’s stock worth $59,000 after acquiring an additional 224 shares during the period. Institutional investors own 92.59% of the company’s stock.

Insider Activity

In other Neurocrine Biosciences news, insider Jude Onyia sold 11,000 shares of Neurocrine Biosciences stock in a transaction on Monday, June 1st. The shares were sold at an average price of $160.25, for a total transaction of $1,762,750.00. Following the sale, the insider owned 25,846 shares in the company, valued at $4,141,821.50. The trade was a 29.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephen A. Sherwin sold 25,000 shares of Neurocrine Biosciences stock in a transaction on Friday, June 5th. The stock was sold at an average price of $165.32, for a total transaction of $4,133,000.00. Following the sale, the director owned 15,860 shares in the company, valued at $2,621,975.20. This represents a 61.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 355,234 shares of company stock valued at $55,330,060. 4.60% of the stock is owned by insiders.

Neurocrine Biosciences Price Performance

NBIX opened at $165.24 on Wednesday. Neurocrine Biosciences, Inc. has a fifty-two week low of $122.14 and a fifty-two week high of $169.57. The firm’s fifty day moving average price is $144.09 and its two-hundred day moving average price is $140.05. The company has a market capitalization of $16.61 billion, a P/E ratio of 25.46, a P/E/G ratio of 1.22 and a beta of 0.40.

Analyst Ratings Changes

A number of brokerages recently issued reports on NBIX. Wall Street Zen raised shares of Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 25th. JPMorgan Chase & Co. boosted their target price on shares of Neurocrine Biosciences from $177.00 to $185.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Wolfe Research began coverage on shares of Neurocrine Biosciences in a research report on Tuesday, February 24th. They set an “outperform” rating and a $160.00 target price on the stock. Piper Sandler boosted their target price on shares of Neurocrine Biosciences from $190.00 to $207.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Finally, Weiss Ratings raised shares of Neurocrine Biosciences from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $187.52.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences (NASDAQ: NBIX) is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research‐driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine’s operations encompass drug discovery, clinical development and commercialization activities.

The company’s lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.