Mirae Asset Global Investments Co. Ltd. Buys 12,928 Shares of Neurocrine Biosciences, Inc. $NBIX

Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 12,928 shares of the company’s stock, valued at approximately $1,834,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of NBIX. NewEdge Advisors LLC lifted its position in shares of Neurocrine Biosciences by 0.5% during the 1st quarter. NewEdge Advisors LLC now owns 13,066 shares of the company’s stock valued at $1,721,000 after buying an additional 68 shares in the last quarter. Westpac Banking Corp increased its holdings in Neurocrine Biosciences by 6.0% in the 1st quarter. Westpac Banking Corp now owns 1,615 shares of the company’s stock worth $213,000 after acquiring an additional 91 shares in the last quarter. Meiji Yasuda Life Insurance Co increased its holdings in Neurocrine Biosciences by 1.8% in the 2nd quarter. Meiji Yasuda Life Insurance Co now owns 5,628 shares of the company’s stock worth $949,000 after acquiring an additional 100 shares in the last quarter. ProShare Advisors LLC increased its holdings in Neurocrine Biosciences by 1.7% in the 3rd quarter. ProShare Advisors LLC now owns 7,388 shares of the company’s stock worth $1,048,000 after acquiring an additional 124 shares in the last quarter. Finally, Brookstone Capital Management raised its stake in Neurocrine Biosciences by 2.7% during the 3rd quarter. Brookstone Capital Management now owns 4,809 shares of the company’s stock worth $682,000 after acquiring an additional 128 shares during the period. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Insider Buying and Selling at Neurocrine Biosciences

In other news, CFO Matt Abernethy sold 2,311 shares of the stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $157.20, for a total transaction of $363,289.20. Following the completion of the transaction, the chief financial officer directly owned 42,808 shares in the company, valued at approximately $6,729,417.60. This represents a 5.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider David W. Boyer sold 826 shares of the stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $157.45, for a total value of $130,053.70. Following the transaction, the insider owned 8,722 shares of the company’s stock, valued at $1,373,278.90. This represents a 8.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 18,137 shares of company stock worth $2,829,332 in the last quarter. 4.60% of the stock is owned by corporate insiders.

Neurocrine Biosciences Stock Performance

NBIX opened at $164.63 on Friday. The stock has a market capitalization of $16.66 billion, a price-to-earnings ratio of 24.43, a PEG ratio of 0.73 and a beta of 0.36. The company has a fifty day moving average of $147.22 and a 200 day moving average of $148.05. Neurocrine Biosciences, Inc. has a fifty-two week low of $122.14 and a fifty-two week high of $186.12.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Monday, November 2nd. The company reported $3.29 EPS for the quarter, beating the consensus estimate of $1.91 by $1.38. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.04 billion. Neurocrine Biosciences had a net margin of 18.98% and a return on equity of 23.39%. The business’s revenue was up 41.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.04 EPS. On average, equities research analysts forecast that Neurocrine Biosciences, Inc. will post 8.41 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. UBS Group lowered their price target on shares of Neurocrine Biosciences from $231.00 to $214.00 and set a “buy” rating on the stock in a report on Tuesday, September 29th. Wall Street Zen raised shares of Neurocrine Biosciences from a “hold” rating to a “buy” rating in a research note on Saturday. Zacks Research cut shares of Neurocrine Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Morgan Stanley raised their price objective on shares of Neurocrine Biosciences from $183.00 to $185.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 3rd. Finally, Cantor Fitzgerald lifted their target price on shares of Neurocrine Biosciences from $210.00 to $215.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Neurocrine Biosciences currently has a consensus rating of “Moderate Buy” and an average price target of $202.32.

Neurocrine Biosciences Profile

Neurocrine Biosciences is a biopharmaceutical company focused on developing and commercializing treatments for neurological, endocrine and related disorders. Founded in 1992 and headquartered in San Diego, California, the company conducts research and development alongside its commercial operations.

Its marketed medicines include INGREZZA (valbenazine), approved in the United States for tardive dyskinesia and chorea associated with Huntington disease, and CRENESSITY (crinecerfont), used with glucocorticoid replacement therapy to treat classic congenital adrenal hyperplasia in adults and children.

Neurocrine primarily serves the U.S.