Nykredit A S Makes New $5.19 Million Investment in Neurocrine Biosciences, Inc. $NBIX

Key Points

• Nykredit A/S purchased 30,811 shares of Neurocrine Biosciences in the second quarter, worth approximately $5.19 million. Institutional investors collectively own 92.59% of the company.
• Neurocrine insiders sold 43,325 shares worth roughly $7.61 million over the past 90 days, including sales by executives Darin Lippoldt and Ingrid Delaet under pre-arranged trading plans.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and a $201.09 average price target. The company also exceeded quarterly expectations with $2.85 in EPS and $959 million in revenue, up 39.5% year over year.

Nykredit A S purchased a new stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 30,811 shares of the company's stock, valued at approximately $5,193,000.

A number of other institutional investors also recently modified their holdings of NBIX. NewEdge Advisors LLC lifted its stake in Neurocrine Biosciences by 0.5% in the first quarter. NewEdge Advisors LLC now owns 13,066 shares of the company's stock valued at $1,721,000 after acquiring an additional 68 shares during the last quarter. Huntington National Bank grew its position in Neurocrine Biosciences by 12.6% in the fourth quarter. Huntington National Bank now owns 678 shares of the company's stock worth $96,000 after acquiring an additional 76 shares in the last quarter. Motley Fool Asset Management LLC increased its stake in shares of Neurocrine Biosciences by 4.8% during the 4th quarter. Motley Fool Asset Management LLC now owns 1,693 shares of the company's stock worth $240,000 after purchasing an additional 78 shares during the last quarter. Main Management ETF Advisors LLC boosted its stake in shares of Neurocrine Biosciences by 1.0% during the 4th quarter. Main Management ETF Advisors LLC now owns 7,830 shares of the company's stock worth $1,111,000 after acquiring an additional 80 shares in the last quarter. Finally, Westpac Banking Corp boosted its position in Neurocrine Biosciences by 6.0% during the first quarter. Westpac Banking Corp now owns 1,615 shares of the company's stock worth $213,000 after purchasing an additional 91 shares during the period. Institutional investors and hedge funds own 92.59% of the company's stock.

Insider Activity

In other Neurocrine Biosciences news, insider Darin Lippoldt sold 10,000 shares of the business's stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $179.60, for a total transaction of $1,796,000.00. Following the completion of the sale, the insider owned 54,729 shares in the company, valued at approximately $9,829,328.40. The trade was a 15.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ingrid Delaet sold 4,367 shares of the business's stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $181.02, for a total value of $790,514.34. Following 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 43,325 shares of company stock valued at $7,611,976. Corporate insiders own 4.60% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. Stifel Nicolaus upped their price target on Neurocrine Biosciences from $188.00 to $215.00 and gave the company a "buy" rating in a report on Friday, July 31st. Needham & Company LLC increased their price target on Neurocrine Biosciences from $200.00 to $204.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Piper Sandler boosted their price objective on Neurocrine Biosciences from $207.00 to $210.00 and gave the company an "overweight" rating in a research report on Friday, July 31st. Weiss Ratings cut Neurocrine Biosciences from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, September 8th. Finally, Wall Street Zen cut 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 assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $201.09.

Neurocrine Biosciences Stock Performance

Shares of NBIX stock opened at $143.96 on Tuesday. The company has a market cap of $14.63 billion, a P/E ratio of 21.11, a PEG ratio of 0.68 and a beta of 0.38. The stock has a 50 day simple moving average of $161.20 and a two-hundred day simple moving average of $152.19. Neurocrine Biosciences, Inc. has a fifty-two week low of $122.14 and a fifty-two week high of $186.12.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last posted its quarterly earnings results on Friday, July 31st. The company reported $2.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.65 by $1.20. Neurocrine Biosciences had a return on equity of 22.43% and a net margin of 20.91%.The firm had revenue of $959.00 million for the quarter, compared to analysts' expectations of $891.16 million. During the same period in the prior year, the business earned $1.65 EPS. The company's revenue for the quarter was up 39.5% compared to the same quarter last year. On average, research analysts predict that Neurocrine Biosciences, Inc. will post 7.26 earnings per share for the current year.

Neurocrine Biosciences Profile

Neurocrine Biosciences, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for neurological, neuroendocrine and psychiatric disorders. The company develops therapies for conditions with significant unmet medical needs, using expertise in neuroscience and endocrine biology.

Its primary commercial product is INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor approved in the United States for the treatment of tardive dyskinesia and chorea associated with Huntington's disease.

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