Neurocrine Biosciences, Inc. $NBIX Shares Purchased by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. raised its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 93.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,917 shares of the company’s stock after buying an additional 8,179 shares during the period. Daiwa Securities Group Inc.’s holdings in Neurocrine Biosciences were worth $2,399,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. USA Financial Formulas bought a new position in shares of Neurocrine Biosciences during the 4th quarter valued at about $25,000. Geneos Wealth Management Inc. boosted its position in shares of Neurocrine Biosciences by 143.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after purchasing an additional 135 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of Neurocrine Biosciences during the 3rd quarter valued at about $49,000. Leonteq Securities AG bought a new position in shares of Neurocrine Biosciences during the 4th quarter valued at about $58,000. Finally, Smartleaf Asset Management LLC boosted its position in shares of Neurocrine Biosciences by 112.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 424 shares of the company’s stock valued at $59,000 after purchasing an additional 224 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Insider Buying and Selling

In other news, Director Richard F. Pops sold 15,000 shares of Neurocrine Biosciences stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $157.65, for a total value of $2,364,750.00. Following the transaction, the director owned 34,480 shares of the company’s stock, valued at $5,435,772. This trade represents a 30.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kevin Charles Gorman sold 245,088 shares of Neurocrine Biosciences stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $154.33, for a total transaction of $37,824,431.04. Following the completion of the transaction, the director directly owned 511,293 shares in the company, valued at approximately $78,907,848.69. This represents a 32.40% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 355,234 shares of company stock valued at $55,330,060. 4.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NBIX. Wolfe Research began coverage on shares of Neurocrine Biosciences in a research report on Tuesday, February 24th. They set an “outperform” rating and a $160.00 price objective for the company. Wall Street Zen upgraded shares of Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 25th. Zacks Research upgraded shares of Neurocrine Biosciences from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 15th. JPMorgan Chase & Co. raised their target price on shares of Neurocrine Biosciences from $177.00 to $185.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Finally, Morgan Stanley raised their target price on shares of Neurocrine Biosciences from $185.00 to $191.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Neurocrine Biosciences currently has an average rating of “Moderate Buy” and an average target price of $187.52.

Neurocrine Biosciences Price Performance

Shares of NBIX opened at $165.24 on Wednesday. Neurocrine Biosciences, Inc. has a one year low of $122.14 and a one year high of $169.57. The company has a 50-day moving average of $144.09 and a two-hundred day moving average of $140.05. The stock has a market cap of $16.61 billion, a price-to-earnings ratio of 25.46, a PEG ratio of 1.22 and a beta of 0.40.

About Neurocrine Biosciences

Neurocrine Biosciences (NASDAQ: NBIX) is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research‐driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine’s operations encompass drug discovery, clinical development and commercialization activities.

The company’s lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.