Sumitomo Mitsui Trust Holdings Inc. lessened its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 23.1% during the second quarter, Holdings Channel reports. The firm owned 425,845 shares of the company’s stock after selling 127,819 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Neurocrine Biosciences were worth $51,953,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Grandfield & Dodd LLC lifted its holdings in shares of Neurocrine Biosciences by 5.7% in the second quarter. Grandfield & Dodd LLC now owns 11,036 shares of the company’s stock valued at $1,350,000 after purchasing an additional 600 shares in the last quarter. NN Investment Partners Holdings N.V. lifted its holdings in shares of Neurocrine Biosciences by 46.2% in the second quarter. NN Investment Partners Holdings N.V. now owns 11,536 shares of the company’s stock valued at $1,407,000 after purchasing an additional 3,648 shares in the last quarter. Heritage Investors Management Corp lifted its holdings in shares of Neurocrine Biosciences by 68.3% in the second quarter. Heritage Investors Management Corp now owns 8,143 shares of the company’s stock valued at $993,000 after purchasing an additional 3,305 shares in the last quarter. Dupont Capital Management Corp bought a new position in shares of Neurocrine Biosciences in the second quarter valued at approximately $351,000. Finally, World Asset Management Inc bought a new stake in Neurocrine Biosciences during the second quarter worth $202,000. Institutional investors own 96.93% of the company’s stock.

In other news, insider Dimitri E. Grigoriadis sold 8,682 shares of Neurocrine Biosciences stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $105.44, for a total value of $915,430.08. Following the completion of the transaction, the insider now directly owns 104,741 shares in the company, valued at $11,043,891.04. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Darin Lippoldt sold 1,657 shares of Neurocrine Biosciences stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $136.02, for a total value of $225,385.14. Following the completion of the transaction, the insider now owns 27,678 shares of the company’s stock, valued at $3,764,761.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 96,894 shares of company stock valued at $11,119,097. 4.30% of the stock is owned by company insiders.

Shares of NASDAQ NBIX opened at $120.36 on Friday. The stock has a market cap of $11.18 billion, a PE ratio of 65.41 and a beta of 1.34. Neurocrine Biosciences, Inc. has a fifty-two week low of $72.14 and a fifty-two week high of $136.26. The company has a debt-to-equity ratio of 0.71, a quick ratio of 6.75 and a current ratio of 6.90. The stock has a fifty day moving average of $126.27 and a 200-day moving average of $107.84.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.26. The company had revenue of $237.10 million during the quarter, compared to analysts’ expectations of $226.29 million. Neurocrine Biosciences had a return on equity of 37.53% and a net margin of 19.90%. The firm’s quarterly revenue was up 71.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.29 earnings per share. On average, sell-side analysts predict that Neurocrine Biosciences, Inc. will post 3.06 EPS for the current year.

NBIX has been the topic of a number of recent analyst reports. Credit Suisse Group lifted their price target on Neurocrine Biosciences from $101.00 to $135.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. Piper Sandler reiterated a “buy” rating and set a $126.00 price target on shares of Neurocrine Biosciences in a report on Monday, June 1st. TheStreet upgraded Neurocrine Biosciences from a “c+” rating to a “b” rating in a report on Wednesday, May 13th. Royal Bank of Canada lifted their price target on Neurocrine Biosciences from $116.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, June 18th. They noted that the move was a valuation call. Finally, Mizuho lifted their price target on Neurocrine Biosciences from $105.00 to $127.00 and gave the stock a “neutral” rating in a report on Thursday, July 23rd. Six analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Neurocrine Biosciences presently has an average rating of “Buy” and an average target price of $135.47.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences, Inc discovers and develops pharmaceuticals for the treatment of neurological and endocrine-related diseases and disorders in the United States. The company offers INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor (VMAT2), which is used for the treatment of movement disorders; ORILISSA, a gonadotropin-releasing hormone (GnRH) antagonist for use in women's health.

See Also: Bid-Ask Spread

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Institutional Ownership by Quarter for Neurocrine Biosciences (NASDAQ:NBIX)

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