Mitsubishi UFJ Asset Management Co. Ltd. Has $14.09 Million Holdings in Neurocrine Biosciences, Inc. $NBIX

Key Points

• Mitsubishi UFJ Asset Management increased its stake in Neurocrine Biosciences by 10.6% in the fourth quarter, ending with 100,222 shares valued at about $14.1 million.
• Institutional ownership in NBIX remains very high, with hedge funds and other investors holding 92.59% of the stock. Several large firms also boosted their positions, including JPMorgan Chase, AQR Capital Management, and UBS Group.
• Wall Street sentiment is broadly positive: multiple analysts raised price targets and ratings, while the company’s latest earnings showed strong revenue growth even though EPS came in below estimates.

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 10.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100,222 shares of the company's stock after acquiring an additional 9,586 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.10% of Neurocrine Biosciences worth $14,091,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its stake in Neurocrine Biosciences by 11.0% in the third quarter. JPMorgan Chase & Co. now owns 4,730,152 shares of the company's stock worth $664,019,000 after purchasing an additional 468,405 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Neurocrine Biosciences by 83.7% in the third quarter. AQR Capital Management LLC now owns 2,773,648 shares of the company's stock valued at $388,435,000 after buying an additional 1,263,633 shares in the last quarter. Deerfield Management Company L.P. raised its holdings in shares of Neurocrine Biosciences by 1.4% in the third quarter. Deerfield Management Company L.P. now owns 1,184,345 shares of the company's stock valued at $166,258,000 after buying an additional 16,543 shares during the last quarter. UBS Group AG raised its holdings in shares of Neurocrine Biosciences by 169.8% in the fourth quarter. UBS Group AG now owns 983,528 shares of the company's stock valued at $139,494,000 after buying an additional 618,956 shares during the last quarter. Finally, Pictet Asset Management Holding SA lifted its position in Neurocrine Biosciences by 12.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 776,934 shares of the company's stock worth $110,305,000 after buying an additional 83,488 shares in the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

Key Neurocrine Biosciences News

Here are the key news stories impacting Neurocrine Biosciences this week:

• Positive Sentiment: JPMorgan raised its price target on Neurocrine Biosciences to $185 from $177 and kept an overweight rating, signaling continued confidence in upside potential. Article link
• Positive Sentiment: Truist Financial lifted its price target to $155 from $140 and reiterated a buy rating, adding to the recent analyst support. Article link
• Positive Sentiment: Multiple firms, including Morgan Stanley, Guggenheim, Piper Sandler and Wedbush, issued upbeat views on NBIX, suggesting broad Wall Street optimism around the stock’s outlook. Article link
• Positive Sentiment: Neurocrine’s latest earnings beat helped reassure investors that the company’s core business remains on track, even if some analysts are still refining their models after the report. Article link
• Neutral Sentiment: A Seeking Alpha article argued that the core business is holding up, while noting the Soleno deal could add upside but also introduces risk. Article link

Neurocrine Biosciences Stock Performance

Shares of NASDAQ:NBIX opened at $152.25 on Monday. The stock has a market capitalization of $15.31 billion, a P/E ratio of 23.46, a P/E/G ratio of 1.25 and a beta of 0.34. Neurocrine Biosciences, Inc. has a 1-year low of $115.66 and a 1-year high of $160.18. The business has a 50-day moving average price of $131.12 and a two-hundred day moving average price of $137.85.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its earnings results on Wednesday, February 11th. The company reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.36 by ($0.48). Neurocrine Biosciences had a net margin of 21.55% and a return on equity of 19.79%. The business had revenue of $805.50 million during the quarter, compared to the consensus estimate of $804.21 million. During the same period last year, the business posted $1.69 EPS. The firm's revenue for the quarter was up 28.3% compared to the same quarter last year. As a group, equities analysts predict that Neurocrine Biosciences, Inc. will post 6.57 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NBIX. Leerink Partners increased their price objective on shares of Neurocrine Biosciences from $160.00 to $170.00 and gave the stock an "outperform" rating in a report on Wednesday, April 22nd. Wall Street Zen raised shares of Neurocrine Biosciences from a "buy" rating to a "strong-buy" rating in a research note on Saturday, April 25th. Weiss Ratings reissued a "hold (c+)" rating on shares of Neurocrine Biosciences in a research note on Tuesday, April 21st. JPMorgan Chase & Co. raised their price target on shares of Neurocrine Biosciences from $177.00 to $185.00 and gave the company an "overweight" rating in a report on Friday. Finally, Wedbush boosted their price objective on shares of Neurocrine Biosciences from $166.00 to $176.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $184.15.

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.

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