Meiji Yasuda Asset Management Co Ltd. Makes New $895,000 Investment in Neurocrine Biosciences, Inc. $NBIX

Meiji Yasuda Asset Management Co Ltd. acquired a new position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 5,312 shares of the company’s stock, valued at approximately $895,000.

A number of other hedge funds have also bought and sold shares of the company. NewEdge Advisors LLC grew its holdings in Neurocrine Biosciences by 0.5% during the 1st quarter. NewEdge Advisors LLC now owns 13,066 shares of the company’s stock worth $1,721,000 after acquiring an additional 68 shares during the period. Huntington National Bank lifted its stake in shares of Neurocrine Biosciences by 12.6% in the 4th quarter. Huntington National Bank now owns 678 shares of the company’s stock valued at $96,000 after purchasing an additional 76 shares during the period. Motley Fool Asset Management LLC boosted its position in shares of Neurocrine Biosciences by 4.8% during the 4th quarter. Motley Fool Asset Management LLC now owns 1,693 shares of the company’s stock valued at $240,000 after purchasing an additional 78 shares in the last quarter. Main Management ETF Advisors LLC grew its stake in Neurocrine Biosciences by 1.0% during the fourth quarter. Main Management ETF Advisors LLC now owns 7,830 shares of the company’s stock worth $1,111,000 after purchasing an additional 80 shares during the period. Finally, Westpac Banking Corp grew its stake in Neurocrine Biosciences by 6.0% during the first quarter. Westpac Banking Corp now owns 1,615 shares of the company’s stock worth $213,000 after purchasing an additional 91 shares during the period. Institutional investors own 92.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Citigroup raised their price objective on shares of Neurocrine Biosciences from $246.00 to $249.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Cantor Fitzgerald lifted their price target on Neurocrine Biosciences from $210.00 to $215.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Weiss Ratings downgraded shares of Neurocrine Biosciences from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Sanford C. Bernstein assumed coverage on Neurocrine Biosciences in a report on Friday, May 22nd. They set an “outperform” rating and a $221.00 price target on the stock. Finally, Truist Financial boosted their target price on shares of Neurocrine Biosciences from $200.00 to $213.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. One equities 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $200.86.

Insider Buying and Selling at Neurocrine Biosciences

In other news, insider Darin Lippoldt sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $179.60, for a total value of $1,796,000.00. Following the transaction, the insider owned 54,729 shares in the company, valued at approximately $9,829,328.40. This trade represents a 15.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Leslie V. Norwalk sold 1,250 shares of the firm’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $182.01, for a total transaction of $227,512.50. Following the completion of the sale, the director directly owned 1,588 shares in the company, valued at approximately $289,031.88. This trade represents a 44.05% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 116,636 shares of company stock worth $19,349,078 over the last 90 days. Company insiders own 4.60% of the company’s stock.

Neurocrine Biosciences Stock Performance

NASDAQ:NBIX opened at $153.37 on Wednesday. Neurocrine Biosciences, Inc. has a 52-week low of $122.14 and a 52-week high of $186.12. The firm has a market capitalization of $15.59 billion, a price-to-earnings ratio of 22.49, a P/E/G ratio of 0.72 and a beta of 0.39. The stock has a fifty day moving average of $166.95 and a 200 day moving average of $149.17.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results on Friday, July 31st. The company reported $2.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $1.20. Neurocrine Biosciences had a net margin of 20.91% and a return on equity of 22.43%. The business had revenue of $959.00 million for the quarter, compared to the consensus estimate of $891.16 million. During the same period last year, the firm posted $1.65 earnings per share. Neurocrine Biosciences’s quarterly revenue was up 39.5% on a year-over-year basis. Equities analysts forecast that Neurocrine Biosciences, Inc. will post 7.25 earnings per share for the current fiscal year.

Neurocrine Biosciences 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.