Sumitomo Mitsui Trust Group Inc. Sells 11,502 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Sumitomo Mitsui Trust Group Inc. decreased its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 4.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 231,941 shares of the company’s stock after selling 11,502 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.23% of Neurocrine Biosciences worth $26,724,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Redwood Investment Management LLC bought a new position in Neurocrine Biosciences in the 1st quarter worth $642,000. Shell Asset Management Co. lifted its position in shares of Neurocrine Biosciences by 132.8% during the 1st quarter. Shell Asset Management Co. now owns 6,828 shares of the company’s stock worth $942,000 after purchasing an additional 3,895 shares during the last quarter. Tidal Investments LLC boosted its stake in Neurocrine Biosciences by 57.8% during the 1st quarter. Tidal Investments LLC now owns 9,542 shares of the company’s stock valued at $1,316,000 after purchasing an additional 3,497 shares during the period. SG Americas Securities LLC acquired a new stake in Neurocrine Biosciences in the 2nd quarter valued at approximately $5,848,000. Finally, China Universal Asset Management Co. Ltd. increased its position in Neurocrine Biosciences by 64.3% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 19,421 shares of the company’s stock worth $2,238,000 after buying an additional 7,597 shares during the period. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Neurocrine Biosciences Price Performance

NBIX stock opened at $117.44 on Friday. The business has a fifty day moving average price of $118.50 and a 200 day moving average price of $132.66. Neurocrine Biosciences, Inc. has a fifty-two week low of $107.84 and a fifty-two week high of $157.98. The stock has a market capitalization of $11.89 billion, a price-to-earnings ratio of 31.49 and a beta of 0.35.

Analyst Ratings Changes

NBIX has been the topic of several research analyst reports. HC Wainwright restated a “buy” rating and issued a $190.00 price objective on shares of Neurocrine Biosciences in a research note on Friday, November 1st. Cantor Fitzgerald restated an “overweight” rating and issued a $155.00 price target on shares of Neurocrine Biosciences in a research report on Monday, September 16th. Robert W. Baird increased their target price on shares of Neurocrine Biosciences from $157.00 to $180.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Piper Sandler upgraded Neurocrine Biosciences from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $131.00 to $159.00 in a research note on Thursday, August 29th. Finally, StockNews.com downgraded Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. Five research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $163.91.

About Neurocrine Biosciences

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.