Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp reduced its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 3.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 121,142 shares of the company’s stock after selling 4,578 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Neurocrine Biosciences were worth $16,536,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Segall Bryant & Hamill LLC grew its stake in shares of Neurocrine Biosciences by 28.5% during the 4th quarter. Segall Bryant & Hamill LLC now owns 46,870 shares of the company’s stock worth $6,398,000 after purchasing an additional 10,398 shares during the period. Prudential Financial Inc. grew its position in Neurocrine Biosciences by 18.9% during the fourth quarter. Prudential Financial Inc. now owns 210,175 shares of the company’s stock valued at $28,689,000 after buying an additional 33,450 shares during the period. Crowley Wealth Management Inc. purchased a new position in Neurocrine Biosciences in the fourth quarter valued at $136,000. Vanguard Group Inc. raised its position in shares of Neurocrine Biosciences by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 10,119,641 shares of the company’s stock worth $1,381,331,000 after acquiring an additional 122,681 shares during the period. Finally, LPL Financial LLC boosted its stake in shares of Neurocrine Biosciences by 27.8% during the 4th quarter. LPL Financial LLC now owns 16,754 shares of the company’s stock worth $2,287,000 after acquiring an additional 3,643 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Insider Buying and Selling at Neurocrine Biosciences

In related news, insider Julie Cooke sold 1,740 shares of Neurocrine Biosciences stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $152.89, for a total value of $266,028.60. Following the completion of the sale, the insider now owns 18,202 shares in the company, valued at approximately $2,782,903.78. This trade represents a 8.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kevin Charles Gorman sold 2,707 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $152.92, for a total value of $413,954.44. Following the transaction, the director now owns 517,030 shares in the company, valued at $79,064,227.60. This trade represents a 0.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 233,178 shares of company stock valued at $33,906,594 over the last 90 days. 4.30% of the stock is owned by insiders.

Neurocrine Biosciences Stock Performance

NBIX opened at $113.16 on Friday. The stock has a market capitalization of $11.28 billion, a PE ratio of 34.40, a P/E/G 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 business’s 50 day moving average price is $124.17 and its 200 day moving average price is $124.90.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly 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 research analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Neurocrine Biosciences announced that its board has initiated a stock buyback plan on Friday, February 21st that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 4.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on NBIX shares. Morgan Stanley reaffirmed an “overweight” rating and issued a $150.00 price target (down previously from $185.00) on shares of Neurocrine Biosciences in a report on Friday, March 7th. Guggenheim reduced their target price on Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Bank of America dropped 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 note on Friday, February 7th. HC Wainwright restated a “buy” rating and set a $185.00 price objective on shares of Neurocrine Biosciences in a research report on Friday, February 21st. Finally, Wedbush dropped their target price on shares of Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating on the stock in a research report on Friday, February 7th. Five research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $165.38.

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.