Mitsubishi UFJ Asset Management Co. Ltd. Has $10.62 Million Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 13.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 76,922 shares of the company’s stock after buying an additional 9,086 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.08% of Neurocrine Biosciences worth $10,623,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in Neurocrine Biosciences by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 10,119,641 shares of the company’s stock valued at $1,381,331,000 after purchasing an additional 122,681 shares during the period. State Street Corp increased its position in shares of Neurocrine Biosciences by 11.7% during the third quarter. State Street Corp now owns 5,148,293 shares of the company’s stock worth $593,186,000 after buying an additional 539,936 shares during the period. Geode Capital Management LLC raised its stake in Neurocrine Biosciences by 2.2% during the third quarter. Geode Capital Management LLC now owns 1,859,232 shares of the company’s stock worth $213,773,000 after buying an additional 39,610 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Neurocrine Biosciences by 1.4% in the fourth quarter. Bank of New York Mellon Corp now owns 870,290 shares of the company’s stock valued at $118,795,000 after buying an additional 12,040 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Neurocrine Biosciences during the fourth quarter valued at $115,193,000. 92.59% of the stock is currently owned by institutional investors.

Insider Activity at Neurocrine Biosciences

In related news, Director Kevin Charles Gorman sold 5,844 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $116.69, for a total transaction of $681,936.36. Following the completion of the transaction, the director now owns 521,618 shares in the company, valued at approximately $60,867,604.42. This represents a 1.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ingrid Delaet sold 623 shares of Neurocrine Biosciences stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $149.29, for a total transaction of $93,007.67. Following the completion of the sale, the insider now directly owns 3,442 shares in the company, valued at approximately $513,856.18. This represents a 15.33 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 232,906 shares of company stock valued at $33,869,030. 4.30% of the stock is owned by insiders.

Neurocrine Biosciences Price Performance

NBIX opened at $110.60 on Tuesday. The firm’s fifty day moving average price is $123.51 and its two-hundred day moving average price is $124.89. The company has a market capitalization of $11.03 billion, a price-to-earnings ratio of 33.62, a P/E/G ratio of 0.77 and a beta of 0.35. Neurocrine Biosciences, Inc. has a 1 year low of $105.18 and a 1 year high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.62). Neurocrine Biosciences had a return on equity of 13.38% and a net margin of 14.49%. As a group, equities analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Neurocrine Biosciences announced that its board has approved a share repurchase program on Friday, February 21st that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 4.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NBIX. Deutsche Bank Aktiengesellschaft assumed coverage on Neurocrine Biosciences in a research report on Tuesday, February 11th. They issued a “hold” rating and a $138.00 price objective for the company. Wedbush dropped their price target on Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. Royal Bank of Canada reduced their price objective on shares of Neurocrine Biosciences from $154.00 to $148.00 and set a “sector perform” rating for the company in a research report on Friday, February 7th. Guggenheim dropped their target price on shares of Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Finally, JPMorgan Chase & Co. raised their price target on shares of Neurocrine Biosciences from $183.00 to $184.00 and gave the stock an “overweight” rating in a report on Wednesday, March 26th. Five analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $165.38.

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.