Livforsakringsbolaget Skandia Omsesidigt Takes Position in Neurocrine Biosciences, Inc. $NBIX

Key Points

• Livforsakringsbolaget Skandia Omsesidigt acquired 18,500 shares of Neurocrine Biosciences in the second quarter, valued at approximately $3.1 million. Institutional investors collectively own 92.59% of NBIX.
• Neurocrine reported quarterly revenue of $959 million and earnings of $2.85 per share, exceeding analyst expectations of $891.16 million in revenue and $1.65 EPS. Revenue increased 39.5% year over year.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $200.86, although insiders sold approximately $19 million worth of shares over the past three months.

Livforsakringsbolaget Skandia Omsesidigt bought a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 18,500 shares of the company's stock, valued at approximately $3,117,000.

Other hedge funds have also recently added to or reduced their stakes in the company. DJE Kapital AG purchased a new stake in Neurocrine Biosciences in the fourth quarter valued at approximately $28,000. Geneos Wealth Management Inc. grew its position 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 worth $25,000 after acquiring an additional 135 shares during the last quarter. Meeder Asset Management Inc. increased its holdings in shares of Neurocrine Biosciences by 651.6% in the 4th quarter. Meeder Asset Management Inc. now owns 233 shares of the company's stock valued at $33,000 after acquiring an additional 202 shares during the period. Basecamp Wealth Advisors LLC increased its holdings in shares of 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 acquiring an additional 204 shares during the period. Finally, Cassaday & Co Wealth Management LLC purchased a new stake in Neurocrine Biosciences in the 1st quarter valued at $33,000. Hedge funds and other institutional investors own 92.59% of the company's stock.

Insider Activity

In other news, Director Leslie V. Norwalk sold 1,250 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $182.01, for a total transaction of $227,512.50. Following the completion of the transaction, the director directly owned 1,588 shares of the company's stock, valued at approximately $289,031.88. This represents a 44.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ingrid Delaet sold 4,367 shares of the firm's stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $181.02, for a total value of $790,514.34. Following the completion of the sale, the insider directly owned 16,225 shares of the company's stock, valued at $2,937,049.50. This 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 114,375 shares of company stock worth $18,994,756 in the last three months. 4.60% of the stock is currently owned by company insiders.

Neurocrine Biosciences Stock Performance

Shares of NBIX opened at $154.06 on Friday. The stock has a market capitalization of $15.66 billion, a P/E ratio of 22.59, a P/E/G ratio of 0.73 and a beta of 0.39. Neurocrine Biosciences, Inc. has a 1 year low of $122.14 and a 1 year high of $186.12. The company's fifty day moving average is $166.77 and its two-hundred day moving average is $149.43.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last released its earnings results on Friday, July 31st. The company reported $2.85 EPS for the quarter, topping the consensus estimate of $1.65 by $1.20. Neurocrine Biosciences had a net margin of 20.91% and a return on equity of 22.43%. The company had revenue of $959.00 million during the quarter, compared to analysts' expectations of $891.16 million. During the same quarter last year, the business earned $1.65 EPS. The business's revenue was up 39.5% on a year-over-year basis. Sell-side analysts predict that Neurocrine Biosciences, Inc. will post 7.25 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Wedbush raised their price objective on shares of Neurocrine Biosciences from $185.00 to $194.00 and gave the stock an "outperform" rating in a research report on Monday, August 3rd. Wall Street Zen cut shares of Neurocrine Biosciences from a "buy" rating to a "hold" rating in a report on Sunday, August 9th. Zacks Research cut shares of Neurocrine Biosciences from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 4th. Weiss Ratings upgraded shares of Neurocrine Biosciences from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday. Finally, Stifel Nicolaus raised their price target on Neurocrine Biosciences from $188.00 to $215.00 and gave the stock a "buy" rating in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Neurocrine Biosciences has a consensus rating of "Moderate Buy" and an average price target of $200.86.

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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