Mirae Asset Global Investments Co. Ltd. Sells 2,781 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Mirae Asset Global Investments Co. Ltd. lessened its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 17.0% during the first quarter, HoldingsChannel reports. The institutional investor owned 13,577 shares of the company’s stock after selling 2,781 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Neurocrine Biosciences were worth $1,519,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Huntington National Bank grew its position in shares of Neurocrine Biosciences by 73.5% in the 4th quarter. Huntington National Bank now owns 229 shares of the company’s stock valued at $31,000 after buying an additional 97 shares during the last quarter. GeoWealth Management LLC lifted its stake in shares of Neurocrine Biosciences by 65.4% in the 4th quarter. GeoWealth Management LLC now owns 258 shares of the company’s stock valued at $35,000 after purchasing an additional 102 shares during the period. Lindbrook Capital LLC lifted its stake in shares of Neurocrine Biosciences by 53.5% in the 4th quarter. Lindbrook Capital LLC now owns 373 shares of the company’s stock valued at $51,000 after purchasing an additional 130 shares during the period. Golden State Wealth Management LLC lifted its stake in shares of Neurocrine Biosciences by 116.9% in the 1st quarter. Golden State Wealth Management LLC now owns 397 shares of the company’s stock valued at $44,000 after purchasing an additional 214 shares during the period. Finally, Versant Capital Management Inc lifted its stake in shares of Neurocrine Biosciences by 404.9% in the 1st quarter. Versant Capital Management Inc now owns 409 shares of the company’s stock valued at $45,000 after purchasing an additional 328 shares during the period. Institutional investors own 92.59% of the company’s stock.

Insiders Place Their Bets

In other news, Director William H. Rastetter sold 30,000 shares of the firm’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $110.20, for a total value of $3,306,000.00. Following the completion of the transaction, the director directly owned 37,491 shares of the company’s stock, valued at $4,131,508.20. This trade represents a 44.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kevin Charles Gorman sold 9,613 shares of the firm’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $120.38, for a total value of $1,157,212.94. Following the completion of the transaction, the director directly owned 514,596 shares of the company’s stock, valued at $61,947,066.48. The trade was a 1.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.80% of the stock is owned by company insiders.

Neurocrine Biosciences Price Performance

Neurocrine Biosciences stock opened at $128.04 on Friday. Neurocrine Biosciences, Inc. has a one year low of $84.23 and a one year high of $157.98. The business has a fifty day moving average price of $121.35 and a 200-day moving average price of $121.83. The firm has a market capitalization of $12.67 billion, a P/E ratio of 43.40, a PEG ratio of 1.32 and a beta of 0.24.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.62). Neurocrine Biosciences had a return on equity of 11.81% and a net margin of 12.68%. The company had revenue of $572.60 million during the quarter, compared to the consensus estimate of $587.06 million. During the same period in the previous year, the business earned $1.20 earnings per share. Neurocrine Biosciences’s revenue was up 11.1% on a year-over-year basis. Sell-side analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NBIX. Piper Sandler reissued an “overweight” rating and issued a $154.00 price objective (down from $160.00) on shares of Neurocrine Biosciences in a research note on Tuesday, May 6th. Morgan Stanley reissued an “overweight” rating and issued a $150.00 price objective (down from $185.00) on shares of Neurocrine Biosciences in a research note on Friday, March 7th. Evercore ISI decreased their price target on Neurocrine Biosciences from $190.00 to $185.00 and set an “outperform” rating for the company in a research report on Thursday, April 24th. Guggenheim increased their price target on Neurocrine Biosciences from $155.00 to $165.00 and gave the company a “buy” rating in a research report on Tuesday, May 6th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $145.00 price target on shares of Neurocrine Biosciences in a research report on Monday, June 2nd. Three investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $162.00.

Neurocrine Biosciences 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.