Sumitomo Mitsui Trust Group Inc. Sells 4,462 Shares of Neurocrine Biosciences, Inc. $NBIX

Sumitomo Mitsui Trust Group Inc. lowered its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 2.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 211,026 shares of the company’s stock after selling 4,462 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.21% of Neurocrine Biosciences worth $29,932,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. BlackRock Inc. purchased a new position in Neurocrine Biosciences during the second quarter worth about $2,310,886,000. Renaissance Technologies LLC raised its holdings in shares of Neurocrine Biosciences by 8.0% in the 1st quarter. Renaissance Technologies LLC now owns 2,418,897 shares of the company’s stock valued at $318,665,000 after acquiring an additional 180,100 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Neurocrine Biosciences by 97.0% during the 1st quarter. First Trust Advisors LP now owns 959,217 shares of the company’s stock valued at $126,367,000 after acquiring an additional 472,408 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Neurocrine Biosciences during the 2nd quarter valued at about $117,827,000. Finally, Ieq Capital LLC purchased a new position in shares of Neurocrine Biosciences during the second quarter worth about $107,914,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Stock Performance

Shares of NBIX opened at $159.76 on Friday. The firm has a market cap of $16.17 billion, a price-to-earnings ratio of 23.70, a PEG ratio of 0.74 and a beta of 0.36. Neurocrine Biosciences, Inc. has a fifty-two week low of $122.14 and a fifty-two week high of $186.12. The firm has a 50 day moving average price of $147.04 and a 200-day moving average price of $147.90.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings data on Monday, November 2nd. The company reported $3.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.91 by $1.38. Neurocrine Biosciences had a net margin of 18.98% and a return on equity of 23.39%. The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the prior year, the company earned $2.04 EPS. The firm’s revenue was up 41.3% on a year-over-year basis. As a group, equities research analysts predict that Neurocrine Biosciences, Inc. will post 7.66 earnings per share for the current year.

Neurocrine Biosciences News Summary

Here are the key news stories impacting Neurocrine Biosciences this week:

• Positive Sentiment: Neurocrine reported third-quarter revenue of $1.12 billion, up 41% year over year and above estimates, with EPS of $3.29 versus a $1.91 consensus. The company also raised its 2026 INGREZZA net-sales outlook to $2.9–$2.925 billion, reinforcing the growth case for its leading product. Q3 results and outlook
• Positive Sentiment: New survey findings showed fewer work or school disruptions among adults with tardive dyskinesia after starting INGREZZA: the share reporting disruptions fell from 57% to 21%, and average missed days declined from 5.6 to 2.0 per month. The results may bolster confidence in the treatment’s patient benefits. INGREZZA survey findings
• Positive Sentiment: Analysts raised price targets following the earnings report, including Morgan Stanley, Canaccord Genuity, RBC and Piper Sandler. Guggenheim also lifted its target to $224 and maintained a Buy rating, adding to the supportive analyst backdrop. Guggenheim rating
• Neutral Sentiment: After a sharp post-earnings advance, some investors may be taking profits, which could weigh on the shares despite the strong operating update. A director’s sale of 300 shares was made under a pre-arranged trading plan and appears small relative to his remaining holdings.
• Negative Sentiment: A report flagged potential integration challenges and legacy liabilities related to Neurocrine’s Soleno acquisition, risks that could complicate the expected value from the deal. Soleno acquisition risks

Analyst Upgrades and Downgrades

NBIX has been the topic of several research analyst reports. Stifel Nicolaus upped their price objective on shares of Neurocrine Biosciences from $188.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. BMO Capital Markets dropped their target price on shares of Neurocrine Biosciences from $164.00 to $150.00 and set a “market perform” rating for the company in a research report on Monday, October 12th. Royal Bank Of Canada lifted their target price on shares of Neurocrine Biosciences from $187.00 to $190.00 and gave the company an “outperform” rating in a research report on Tuesday. Wedbush boosted their price target on shares of Neurocrine Biosciences from $185.00 to $194.00 and gave the stock an “outperform” rating in a research note on Monday, August 3rd. Finally, UBS Group decreased their price target on shares of Neurocrine Biosciences from $231.00 to $214.00 and set a “buy” rating on the stock in a report on Tuesday, September 29th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $202.32.

Insider Buying and Selling

In other news, Director George Morrow sold 7,500 shares of the firm’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $145.79, for a total transaction of $1,093,425.00. Following the transaction, the director directly owned 10,386 shares of the company’s stock, valued at approximately $1,514,174.94. This trade represents a 41.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David W. Boyer sold 826 shares of Neurocrine Biosciences stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $157.45, for a total value of $130,053.70. Following the completion of the transaction, the insider owned 8,722 shares in the company, valued at approximately $1,373,278.90. This represents a 8.65% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 18,137 shares of company stock worth $2,829,332 in the last 90 days. 4.60% of the stock is owned by company insiders.

About Neurocrine Biosciences

Neurocrine Biosciences, Inc is a San Diego-based biopharmaceutical company focused on discovering, developing and commercializing medicines for neurological, neuroendocrine and psychiatric disorders. The company’s research programs target conditions in which treatments may address significant unmet medical needs.

Neurocrine’s leading product is INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor approved in the United States for the treatment of tardive dyskinesia and chorea associated with Huntington’s disease.