Mitsubishi UFJ Asset Management Co. Ltd. Purchases 9,086 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 13.4% during the fourth quarter, HoldingsChannel reports. The fund owned 76,922 shares of the company’s stock after buying an additional 9,086 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Neurocrine Biosciences were worth $10,623,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in the business. Golden State Wealth Management LLC purchased a new position in shares of Neurocrine Biosciences in the fourth quarter worth about $25,000. Brooklyn Investment Group grew its stake in Neurocrine Biosciences by 99.1% in the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock valued at $32,000 after buying an additional 115 shares in the last quarter. Lindbrook Capital LLC raised its holdings in Neurocrine Biosciences by 53.5% during the 4th 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. R Squared Ltd purchased a new stake in shares of Neurocrine Biosciences during the fourth quarter worth $61,000. Finally, UMB Bank n.a. boosted its holdings in shares of Neurocrine Biosciences by 211.6% in the fourth quarter. UMB Bank n.a. now owns 455 shares of the company’s stock worth $62,000 after acquiring an additional 309 shares during the period. 92.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NBIX has been the topic of a number of analyst reports. William Blair reiterated an “outperform” rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. StockNews.com cut Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 20th. HC Wainwright reaffirmed a “buy” rating and set a $185.00 price objective on shares of Neurocrine Biosciences in a research note on Friday, February 21st. Piper Sandler reaffirmed an “overweight” rating and set a $160.00 target price on shares of Neurocrine Biosciences in a report on Monday, December 23rd. Finally, Wedbush cut their price target on shares of Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Five research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $165.38.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, CEO Kyle Gano sold 65,000 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $141.50, for a total value of $9,197,500.00. Following the transaction, the chief executive officer now owns 135,392 shares in the company, valued at approximately $19,157,968. The trade was a 32.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Julie Cooke sold 1,740 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $152.89, for a total transaction of $266,028.60. Following the sale, the insider now owns 18,202 shares of the company’s stock, valued at approximately $2,782,903.78. This represents a 8.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 232,906 shares of company stock worth $33,869,030. Company insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Price Performance

Shares of NASDAQ NBIX opened at $110.60 on Tuesday. The stock has a market capitalization of $11.03 billion, a P/E ratio of 33.62, a PEG ratio of 0.77 and a beta of 0.35. Neurocrine Biosciences, Inc. has a one year low of $105.18 and a one year high of $157.98. The firm’s 50 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 earnings results on Thursday, February 6th. The company reported $1.00 EPS for the quarter, missing the consensus estimate of $1.62 by ($0.62). Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.38%. As a group, equities analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Neurocrine Biosciences announced that its board has authorized a stock repurchase program on Friday, February 21st that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to reacquire up to 4.2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Neurocrine Biosciences Company 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.