Swedbank AB Has $82.85 Million Stock Holdings in Neurocrine Biosciences, Inc. $NBIX

Key Points

• Swedbank AB increased its stake in Neurocrine Biosciences by 6.7% in the fourth quarter, ending with 584,129 shares valued at about $82.85 million.
• Institutional ownership remains very high, with 92.59% of Neurocrine’s stock held by institutional investors and hedge funds. Several major firms, including JPMorgan, AQR Capital Management, and UBS, also raised their positions.
• Insiders recently sold shares, including director Kevin Charles Gorman’s large sale of 245,088 shares and Leslie V. Norwalk’s sale of 3,810 shares. Analysts remain broadly positive, with a consensus Moderate Buy rating and an average price target of $185.90.

Swedbank AB raised its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 6.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 584,129 shares of the company's stock after acquiring an additional 36,800 shares during the quarter. Swedbank AB owned about 0.59% of Neurocrine Biosciences worth $82,847,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its stake in Neurocrine Biosciences by 11.0% in the third quarter. JPMorgan Chase & Co. now owns 4,730,152 shares of the company's stock valued at $664,019,000 after acquiring an additional 468,405 shares during the last quarter. AQR Capital Management LLC lifted its stake in Neurocrine Biosciences by 83.7% in the third quarter. AQR Capital Management LLC now owns 2,773,648 shares of the company's stock valued at $388,435,000 after acquiring an additional 1,263,633 shares during the last quarter. Deerfield Management Company L.P. lifted its stake in Neurocrine Biosciences by 1.4% in the third quarter. Deerfield Management Company L.P. now owns 1,184,345 shares of the company's stock valued at $166,258,000 after acquiring an additional 16,543 shares during the last quarter. UBS Group AG lifted its stake in Neurocrine Biosciences by 169.8% in the fourth quarter. UBS Group AG now owns 983,528 shares of the company's stock valued at $139,494,000 after acquiring an additional 618,956 shares during the last quarter. Finally, Pictet Asset Management Holding SA lifted its stake in Neurocrine Biosciences by 12.0% in the fourth quarter. Pictet Asset Management Holding SA now owns 776,934 shares of the company's stock valued at $110,305,000 after acquiring an additional 83,488 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Leslie V. Norwalk sold 3,810 shares of the business's stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $155.01, for a total transaction of $590,588.10. Following the transaction, the director owned 2,429 shares of the company's stock, valued at approximately $376,519.29. The trade was a 61.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kevin Charles Gorman sold 245,088 shares of the business's stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $154.33, for a total transaction of $37,824,431.04. Following the transaction, the director directly owned 511,293 shares in the company, valued at $78,907,848.69. This trade represents a 32.40% decrease in their position. 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 quarter, insiders have sold 263,898 shares of company stock valued at $40,779,769. 4.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on NBIX shares. Sanford C. Bernstein started coverage on shares of Neurocrine Biosciences in a research report on Friday. They issued an "outperform" rating and a $221.00 price target on the stock. Zacks Research raised shares of Neurocrine Biosciences from a "strong sell" rating to a "hold" rating in a research report on Wednesday, April 15th. Wolfe Research started coverage on shares of Neurocrine Biosciences in a research report on Tuesday, February 24th. They issued an "outperform" rating and a $160.00 price target on the stock. Royal Bank Of Canada lifted their price target on shares of Neurocrine Biosciences from $176.00 to $180.00 and gave the company an "outperform" rating in a research report on Wednesday, May 6th. Finally, Citigroup lifted their price target on shares of Neurocrine Biosciences from $242.00 to $246.00 and gave the company a "buy" rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Neurocrine Biosciences currently has a consensus rating of "Moderate Buy" and an average target price of $185.90.

Neurocrine Biosciences Stock Up 0.8%

NASDAQ:NBIX opened at $156.70 on Friday. Neurocrine Biosciences, Inc. has a 12 month low of $117.59 and a 12 month high of $162.39. The firm has a market cap of $15.76 billion, a price-to-earnings ratio of 24.14, a P/E/G ratio of 1.18 and a beta of 0.34. The company's 50 day moving average is $136.68 and its 200-day moving average is $138.90.

Neurocrine Biosciences Company Profile

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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