Swedbank AB Has $76.83 Million Position in Neurocrine Biosciences, Inc. $NBIX

by · The Markets Daily

Swedbank AB grew its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX – Free Report) by 8.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 547,329 shares of the company’s stock after acquiring an additional 43,827 shares during the period. Swedbank AB owned about 0.55% of Neurocrine Biosciences worth $76,834,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in shares of Neurocrine Biosciences by 59.6% during the second quarter. JPMorgan Chase & Co. now owns 4,261,747 shares of the company’s stock valued at $535,659,000 after purchasing an additional 1,590,749 shares during the period. Norges Bank bought a new position in Neurocrine Biosciences during the second quarter valued at $122,278,000. Los Angeles Capital Management LLC raised its position in shares of Neurocrine Biosciences by 19,454.9% in the second quarter. Los Angeles Capital Management LLC now owns 744,650 shares of the company’s stock valued at $93,595,000 after purchasing an additional 740,842 shares during the period. AQR Capital Management LLC lifted its holdings in Neurocrine Biosciences by 40.5% during the 2nd quarter. AQR Capital Management LLC now owns 1,510,015 shares of the company’s stock worth $189,794,000 after purchasing an additional 435,385 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. purchased a new position in Neurocrine Biosciences during the second quarter valued at approximately $42,933,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Neurocrine Biosciences Stock Performance

NASDAQ:NBIX opened at $146.89 on Thursday. Neurocrine Biosciences, Inc. has a 52-week low of $84.23 and a 52-week high of $160.18. The firm has a market capitalization of $14.65 billion, a PE ratio of 35.14, a P/E/G ratio of 0.97 and a beta of 0.27. The stock has a 50-day simple moving average of $146.76 and a two-hundred day simple moving average of $138.49.

Neurocrine Biosciences (NASDAQ:NBIX – Get Free Report) last released its earnings results on Tuesday, October 28th. The company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.59. Neurocrine Biosciences had a return on equity of 15.82% and a net margin of 15.95%.The firm had revenue of $794.90 million during the quarter, compared to analysts’ expectations of $746.61 million. During the same quarter last year, the business posted $1.81 earnings per share. The firm’s revenue was up 27.8% on a year-over-year basis. Equities analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Insider Transactions at Neurocrine Biosciences

In related news, Director George J. Morrow sold 15,000 shares of the stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $143.37, for a total value of $2,150,550.00. Following the sale, the director directly owned 7,068 shares of the company’s stock, valued at $1,013,339.16. This represents a 67.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Darin Lippoldt sold 4,376 shares of the firm’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $159.65, for a total transaction of $698,628.40. Following the completion of the sale, the insider directly owned 43,405 shares of the company’s stock, valued at approximately $6,929,608.25. The trade was a 9.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 43,866 shares of company stock worth $6,570,237. 4.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts recently commented on NBIX shares. Stifel Nicolaus increased their target price on Neurocrine Biosciences from $183.00 to $188.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Canaccord Genuity Group increased their target price on shares of Neurocrine Biosciences from $160.00 to $164.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. JPMorgan Chase & Co. boosted their price target on Neurocrine Biosciences from $171.00 to $179.00 and gave the company an “overweight” rating in a report on Monday, November 3rd. Morgan Stanley cut their price objective on Neurocrine Biosciences from $178.00 to $173.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 11th. Finally, Citigroup lifted their target price on shares of Neurocrine Biosciences from $175.00 to $203.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. One equities research 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 stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $175.25.

Read Our Latest Stock Analysis on Neurocrine Biosciences

About Neurocrine Biosciences

(Free Report)

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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