Swedbank AB Has $63.29 Million Position in Neurocrine Biosciences, Inc. $NBIX

Key Points

• Swedbank AB increased its stake in Neurocrine Biosciences by 17.2% to 503,502 shares, valued at approximately $63.3 million, during the second quarter.
• Multiple institutional investors raised their positions in Neurocrine Biosciences, with institutional ownership now at 92.59% of the company's stock.
• Analysts project a consensus price target of $160.26 for Neurocrine Biosciences, with the majority rating it as a "Buy."

Swedbank AB grew its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 17.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 503,502 shares of the company's stock after buying an additional 73,805 shares during the quarter. Swedbank AB owned 0.51% of Neurocrine Biosciences worth $63,285,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Geneos Wealth Management Inc. grew its holdings in Neurocrine Biosciences by 143.6% in the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company's stock worth $25,000 after purchasing an additional 135 shares during the last quarter. WPG Advisers LLC purchased a new stake in Neurocrine Biosciences during the first quarter worth about $32,000. Smallwood Wealth Investment Management LLC purchased a new stake in shares of Neurocrine Biosciences during the first quarter worth approximately $34,000. SVB Wealth LLC purchased a new position in Neurocrine Biosciences during the 1st quarter worth approximately $35,000. Finally, Golden State Wealth Management LLC boosted its holdings in shares of Neurocrine Biosciences by 116.9% in the first quarter. Golden State Wealth Management LLC now owns 397 shares of the company's stock valued at $44,000 after acquiring an additional 214 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company's stock.

Insiders Place Their Bets

In other news, insider Ingrid Delaet sold 457 shares of the firm's stock in a transaction 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 sale, the insider owned 4,730 shares in the company, valued at $638,550. This trade represents a 8.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jude Onyia sold 59,819 shares of the business's stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $130.46, for a total value of $7,803,986.74. Following the transaction, the insider owned 18,289 shares in the company, valued at approximately $2,385,982.94. This represents a 76.58% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 186,960 shares of company stock worth $23,955,553 over the last ninety days. Corporate insiders own 4.80% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on NBIX shares. Truist Financial assumed coverage on shares of Neurocrine Biosciences in a research note on Monday, July 21st. They set a "buy" rating and a $163.00 price target on the stock. JPMorgan Chase & Co. raised their price objective on Neurocrine Biosciences from $140.00 to $145.00 and gave the stock a "neutral" rating in a research report 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 raised their price objective on Neurocrine Biosciences from $144.00 to $149.00 and gave the company an "outperform" rating in a report on Friday, September 5th. Finally, Guggenheim boosted their price objective on shares of Neurocrine Biosciences from $165.00 to $175.00 and gave the company a "buy" rating in a report on Friday, August 1st. Seventeen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Neurocrine Biosciences presently has an average rating of "Moderate Buy" and an average target price of $160.26.

Neurocrine Biosciences Price Performance

NBIX stock traded down $0.43 during trading on Friday, reaching $145.23. The company had a trading volume of 1,711,619 shares, compared to its average volume of 722,550. Neurocrine Biosciences, Inc. has a 52 week low of $84.23 and a 52 week high of $154.61. The business has a 50 day moving average of $135.26 and a 200 day moving average of $122.13. The company has a market cap of $14.40 billion, a P/E ratio of 42.97, a PEG ratio of 1.05 and a beta of 0.28.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.08. Neurocrine Biosciences had a net margin of 13.88% and a return on equity of 13.22%. The company had revenue of $687.50 million during the quarter, compared to the consensus estimate of $653.09 million. During the same quarter in the prior year, the firm posted $1.63 EPS. Neurocrine Biosciences's quarterly revenue was up 16.5% compared to the same quarter last year. Research analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

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.