Lansforsakringar Fondforvaltning AB publ Invests $4.43 Million in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Lansforsakringar Fondforvaltning AB publ bought a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 32,446 shares of the company's stock, valued at approximately $4,429,000.

Other large investors have also recently bought and sold shares of the company. Golden State Wealth Management LLC acquired a new stake in shares of Neurocrine Biosciences during the fourth quarter worth $25,000. Huntington National Bank raised its holdings in shares of Neurocrine Biosciences by 73.5% during the fourth quarter. Huntington National Bank now owns 229 shares of the company's stock worth $31,000 after acquiring an additional 97 shares during the period. GeoWealth Management LLC grew its position in Neurocrine Biosciences by 65.4% in the fourth quarter. GeoWealth Management LLC now owns 258 shares of the company's stock valued at $35,000 after purchasing an additional 102 shares in the last quarter. Lindbrook Capital LLC grew its position in Neurocrine Biosciences by 53.5% in the fourth quarter. Lindbrook Capital LLC now owns 373 shares of the company's stock valued at $51,000 after purchasing an additional 130 shares in the last quarter. Finally, R Squared Ltd bought a new position in Neurocrine Biosciences in the fourth quarter valued at $61,000. Institutional investors own 92.59% of the company's stock.

Neurocrine Biosciences Trading Down 0.8%

NBIX traded down $0.95 during trading on Friday, reaching $122.71. 1,827,832 shares of the company's stock were exchanged, compared to its average volume of 1,140,365. Neurocrine Biosciences, Inc. has a one year low of $84.23 and a one year high of $157.98. The stock has a market capitalization of $12.14 billion, a PE ratio of 37.30, a price-to-earnings-growth ratio of 0.77 and a beta of 0.26. The firm has a fifty day moving average price of $108.97 and a two-hundred day moving average price of $121.82.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $0.08 earnings per share for the quarter, missing analysts' consensus estimates of $0.70 by ($0.62). Neurocrine Biosciences had a return on equity of 13.38% and a net margin of 14.49%. The business had revenue of $572.60 million for the quarter, compared to the consensus estimate of $587.06 million. During the same period in the previous year, the firm earned $1.20 earnings per share. The company's revenue was up 11.1% compared to the same quarter last year. Sell-side analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Neurocrine Biosciences declared that its Board of Directors has authorized a share repurchase program on Friday, February 21st that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to buy up to 4.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

NBIX has been the subject of a number of analyst reports. Royal Bank of Canada lifted their price objective on shares of Neurocrine Biosciences from $137.00 to $145.00 and gave the company an "outperform" rating in a research report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Neurocrine Biosciences in a research note on Tuesday, February 11th. They issued a "hold" rating and a $138.00 price objective for the company. Canaccord Genuity Group lifted their price objective on shares of Neurocrine Biosciences from $158.00 to $160.00 and gave the stock a "buy" rating in a research note on Tuesday, May 6th. Evercore ISI dropped their price objective on shares of Neurocrine Biosciences from $190.00 to $185.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Finally, Wedbush reiterated an "outperform" rating on shares of Neurocrine Biosciences in a research note on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, Neurocrine Biosciences has an average rating of "Moderate Buy" and a consensus price target of $162.00.

Insiders Place Their Bets

In related news, Director William H. Rastetter sold 30,000 shares of the firm's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $110.20, for a total transaction of $3,306,000.00. Following the transaction, the director now directly owns 37,491 shares of the company's stock, valued at $4,131,508.20. This trade represents a 44.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kevin Charles Gorman sold 9,613 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $120.38, for a total transaction of $1,157,212.94. Following the transaction, the director now directly owns 514,596 shares in the company, valued at $61,947,066.48. The trade was a 1.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 4.80% of the company's stock.

About Neurocrine Biosciences

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.