52,095 Shares in Neurocrine Biosciences, Inc. $NBIX Bought by Danske Bank A S

Key Points

• Danske Bank A S acquired 52,095 shares of Neurocrine Biosciences in the second quarter, valued at approximately $8.78 million. Institutional investors collectively own 92.59% of the company.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $200.86. Neurocrine also beat quarterly expectations, reporting $2.85 in EPS versus the $1.65 estimate and 39.5% year-over-year revenue growth.
• NBIX opened at $152.57, below its 50-day moving average of $167.14, while insiders have sold 131,524 shares worth $21.67 million over the past 90 days.

Danske Bank A S bought a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 52,095 shares of the company's stock, valued at approximately $8,780,000. Danske Bank A S owned approximately 0.05% of Neurocrine Biosciences as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of NBIX. Geneos Wealth Management Inc. raised its holdings in shares of Neurocrine Biosciences by 143.6% during the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company's stock valued at $25,000 after acquiring an additional 135 shares during the last quarter. DJE Kapital AG acquired a new stake in Neurocrine Biosciences during the fourth quarter worth $28,000. Basecamp Wealth Advisors LLC raised its holdings in Neurocrine Biosciences by 582.9% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company's stock valued at $31,000 after buying an additional 204 shares during the period. Cassaday & Co Wealth Management LLC acquired a new position in shares of Neurocrine Biosciences in the 1st quarter worth approximately $33,000. Finally, Meeder Asset Management Inc. boosted its position in shares of Neurocrine Biosciences by 651.6% during the fourth quarter. Meeder Asset Management Inc. now owns 233 shares of the company's stock worth $33,000 after buying an additional 202 shares during the period. Institutional investors and hedge funds own 92.59% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Royal Bank Of Canada upped their target price on shares of Neurocrine Biosciences from $195.00 to $198.00 and gave the stock an "outperform" rating in a research note on Friday, July 31st. The Goldman Sachs Group began coverage on shares of Neurocrine Biosciences in a research report on Tuesday, June 2nd. They issued a "buy" rating and a $213.00 price target for the company. Canaccord Genuity Group boosted their price target on shares of Neurocrine Biosciences from $200.00 to $210.00 and gave the stock a "buy" rating in a research note on Monday, August 3rd. Sanford C. Bernstein started coverage on Neurocrine Biosciences in a research report on Friday, May 22nd. They set an "outperform" rating and a $221.00 price objective on the stock. Finally, Wall Street Zen lowered Neurocrine Biosciences from a "buy" rating to a "hold" rating in a report on Sunday, August 9th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Neurocrine Biosciences has a consensus rating of "Moderate Buy" and an average target price of $200.86.

Neurocrine Biosciences Trading Down 0.2%

Neurocrine Biosciences stock opened at $152.57 on Friday. The company has a fifty day simple moving average of $167.14 and a 200-day simple moving average of $148.88. The stock has a market cap of $15.51 billion, a P/E ratio of 22.37, a price-to-earnings-growth ratio of 0.71 and a beta of 0.39. Neurocrine Biosciences, Inc. has a 12-month low of $122.14 and a 12-month high of $186.12.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last posted its earnings results on Friday, July 31st. The company reported $2.85 EPS for the quarter, beating the consensus estimate of $1.65 by $1.20. The firm had revenue of $959.00 million for the quarter, compared to analyst estimates of $891.16 million. Neurocrine Biosciences had a return on equity of 22.43% and a net margin of 20.91%.Neurocrine Biosciences's revenue for the quarter was up 39.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.65 earnings per share. As a group, sell-side analysts forecast that Neurocrine Biosciences, Inc. will post 7.25 earnings per share for the current fiscal year.

Insider Activity at Neurocrine Biosciences

In other news, Director Stephen A. Sherwin sold 25,000 shares of the company's stock in a transaction on Friday, June 5th. The shares were sold at an average price of $165.32, for a total value of $4,133,000.00. Following the completion of the transaction, the director owned 15,860 shares in the company, valued at approximately $2,621,975.20. This represents a 61.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ingrid Delaet sold 4,367 shares of the stock in a transaction on Friday, July 10th. The shares were sold at an average price of $181.02, for a total transaction of $790,514.34. Following the completion of the transaction, the insider directly owned 16,225 shares in the company, valued at $2,937,049.50. This trade represents a 21.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 131,524 shares of company stock worth $21,668,924 over the last 90 days. 4.60% of the stock is owned by corporate insiders.

Neurocrine Biosciences Profile

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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