Neurocrine Biosciences, Inc. $NBIX Shares Purchased by Fjarde AP Fonden Fourth Swedish National Pension Fund

Key Points

• Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in Neurocrine Biosciences by 21.6%, owning 67,623 shares valued at approximately $7.48 million.
• Neurocrine reported a 16.5% year-over-year revenue growth with a total revenue of $687.5 million in their latest earnings report, surpassing analysts' estimates.
• The stock has received a consensus rating of "Moderate Buy" from analysts, with a price target averaging $160.90.

Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 21.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 67,623 shares of the company's stock after buying an additional 12,000 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund owned about 0.07% of Neurocrine Biosciences worth $7,479,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NBIX. Rockefeller Capital Management L.P. increased its holdings in Neurocrine Biosciences by 2.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 19,870 shares of the company's stock valued at $2,712,000 after buying an additional 549 shares in the last quarter. Townsquare Capital LLC purchased a new stake in shares of Neurocrine Biosciences during the fourth quarter worth about $290,000. Mariner LLC increased its stake in shares of Neurocrine Biosciences by 23.0% during the fourth quarter. Mariner LLC now owns 20,639 shares of the company's stock worth $2,817,000 after purchasing an additional 3,857 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Neurocrine Biosciences during the fourth quarter worth about $331,000. Finally, Farringdon Capital Ltd. purchased a new stake in shares of Neurocrine Biosciences during the fourth quarter worth about $316,000. Hedge funds and other institutional investors own 92.59% of the company's stock.

Neurocrine Biosciences Stock Up 1.0%

NASDAQ:NBIX traded up $1.3050 on Thursday, hitting $134.5350. The stock had a trading volume of 108,490 shares, compared to its average volume of 1,257,860. The stock has a market cap of $13.34 billion, a price-to-earnings ratio of 39.83, a PEG ratio of 0.96 and a beta of 0.25. The company has a fifty day moving average price of $129.70 and a two-hundred day moving average price of $119.44. Neurocrine Biosciences, Inc. has a 1-year low of $84.23 and a 1-year high of $154.87.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.08. The company had revenue of $687.50 million for the quarter, compared to analyst estimates of $653.09 million. Neurocrine Biosciences had a net margin of 13.88% and a return on equity of 13.22%. Neurocrine Biosciences's revenue was up 16.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.63 EPS. As a group, analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Insider Transactions at Neurocrine Biosciences

In other news, insider Jude Onyia sold 59,819 shares of the company's stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $130.46, for a total value of $7,803,986.74. Following the transaction, the insider directly owned 18,289 shares in the company, valued at approximately $2,385,982.94. This represents a 76.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Ingrid Delaet sold 457 shares of the company's stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $135.00, for a total transaction of $61,695.00. Following the completion of the transaction, the insider owned 4,730 shares in the company, valued at approximately $638,550. This represents a 8.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 196,573 shares of company stock worth $25,112,766. 4.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of Neurocrine Biosciences from $140.00 to $145.00 and gave the stock a "neutral" rating in a research note on Thursday, July 31st. Wall Street Zen raised shares of Neurocrine Biosciences from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 2nd. Royal Bank Of Canada cut their target price on shares of Neurocrine Biosciences from $146.00 to $144.00 and set an "outperform" rating for the company in a research note on Thursday, July 31st. BMO Capital Markets boosted their target price on shares of Neurocrine Biosciences from $96.00 to $115.00 and gave the stock a "market perform" rating in a research note on Tuesday, May 6th. Finally, The Goldman Sachs Group started coverage on shares of Neurocrine Biosciences in a research note on Thursday, July 10th. They set a "buy" rating and a $182.00 target price for the company. Eighteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $159.50.

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.