Mirae Asset Global Investments Co. Ltd. Acquires 2,925 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Mirae Asset Global Investments Co. Ltd. lifted its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 21.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,358 shares of the company’s stock after acquiring an additional 2,925 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Neurocrine Biosciences were worth $2,251,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Brooklyn Investment Group boosted its stake in Neurocrine Biosciences by 99.1% in the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock worth $32,000 after purchasing an additional 115 shares during the period. Blue Trust Inc. lifted its holdings in shares of Neurocrine Biosciences by 171.9% in the third quarter. Blue Trust Inc. now owns 348 shares of the company’s stock worth $40,000 after buying an additional 220 shares in the last quarter. R Squared Ltd bought a new position in shares of Neurocrine Biosciences in the fourth quarter valued at approximately $61,000. UMB Bank n.a. grew its stake in Neurocrine Biosciences by 211.6% during the fourth quarter. UMB Bank n.a. now owns 455 shares of the company’s stock valued at $62,000 after acquiring an additional 309 shares in the last quarter. Finally, Truvestments Capital LLC bought a new stake in Neurocrine Biosciences during the 3rd quarter worth approximately $63,000. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Neurocrine Biosciences Stock Performance

Shares of Neurocrine Biosciences stock opened at $122.62 on Monday. Neurocrine Biosciences, Inc. has a 52-week low of $110.95 and a 52-week high of $157.98. The company’s 50 day moving average price is $138.81 and its 200-day moving average price is $131.52. The stock has a market capitalization of $12.41 billion, a price-to-earnings ratio of 37.27 and a beta of 0.33.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings results 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 13.45% and a net margin of 14.49%. As a group, equities research analysts forecast that Neurocrine Biosciences, Inc. will post 6.53 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on NBIX shares. Canaccord Genuity Group cut their price target on shares of Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating for the company in a report on Friday. Wedbush dropped their price objective on Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating for the company in a research note on Friday. StockNews.com lowered Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 1st. UBS Group lifted their price target on Neurocrine Biosciences from $162.00 to $176.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Finally, Piper Sandler restated an “overweight” rating and issued a $160.00 price objective on shares of Neurocrine Biosciences in a research report on Monday, December 23rd. Four equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Neurocrine Biosciences presently has a consensus rating of “Moderate Buy” and an average target price of $169.20.

Insider Activity at Neurocrine Biosciences

In related news, insider Jude Onyia sold 2,331 shares of Neurocrine Biosciences stock in a transaction on Friday, November 29th. The shares were sold at an average price of $126.29, for a total value of $294,381.99. Following the sale, the insider now owns 15,449 shares in the company, valued at $1,951,054.21. The trade was a 13.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ingrid Delaet sold 623 shares of the company’s stock in a transaction on 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 transaction, the insider now owns 3,442 shares of the company’s stock, valued at $513,856.18. This trade represents a 15.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 222,693 shares of company stock worth $32,718,279 in the last 90 days. Company insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Company 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.