Neurocrine Biosciences, Inc. $NBIX Shares Bought by Swedbank AB

Key Points

• Swedbank AB significantly increased its holdings in Neurocrine Biosciences by 5,078.9% in Q1, acquiring 421,400 shares to reach a total of 429,697 shares valued at approximately $47.5 million.
• Various institutional investors showed strong interest, with 92.59% of Neurocrine's stock now owned by hedge funds and institutional investors, highlighting increased confidence in the company.
• Analysts are bullish on Neurocrine Biosciences, with a consensus rating of "Moderate Buy" and a target price of $160.00, suggesting potential growth after a recent earnings beat.

Swedbank AB raised its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 5,078.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 429,697 shares of the company's stock after purchasing an additional 421,400 shares during the quarter. Swedbank AB owned 0.43% of Neurocrine Biosciences worth $47,524,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Dodge & Cox raised its position in Neurocrine Biosciences by 83.5% in the first quarter. Dodge & Cox now owns 5,534,624 shares of the company's stock valued at $612,129,000 after purchasing an additional 2,518,199 shares during the period. Wellington Management Group LLP raised its position in Neurocrine Biosciences by 44.0% in the first quarter. Wellington Management Group LLP now owns 2,097,981 shares of the company's stock valued at $232,037,000 after purchasing an additional 640,556 shares during the period. Price T Rowe Associates Inc. MD raised its position in Neurocrine Biosciences by 3.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,539,601 shares of the company's stock valued at $170,281,000 after purchasing an additional 49,088 shares during the period. Braidwell LP raised its position in Neurocrine Biosciences by 32.2% in the first quarter. Braidwell LP now owns 1,191,925 shares of the company's stock valued at $131,827,000 after purchasing an additional 290,135 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Neurocrine Biosciences by 8.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,159,367 shares of the company's stock valued at $128,226,000 after purchasing an additional 89,271 shares during the period. Hedge funds and other institutional investors own 92.59% of the company's stock.

Insider Transactions at Neurocrine Biosciences

In other news, insider Ingrid Delaet sold 457 shares of the 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 directly owned 4,730 shares of the company's stock, valued at approximately $638,550. This represents a 8.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Kevin Charles Gorman sold 106,322 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $126.41, for a total value of $13,440,164.02. Following the transaction, the director directly owned 514,596 shares of the company's stock, valued at approximately $65,050,080.36. This trade represents a 17.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 186,960 shares of company stock valued at $23,955,553. Corporate insiders own 4.80% of the company's stock.

Analyst Ratings Changes

NBIX has been the topic of a number of research analyst reports. The Goldman Sachs Group initiated coverage on Neurocrine Biosciences in a research report on Thursday, July 10th. They issued a "buy" rating and a $182.00 target price on the stock. UBS Group boosted their price objective on Neurocrine Biosciences from $152.00 to $174.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Morgan Stanley boosted their price objective on Neurocrine Biosciences from $158.00 to $163.00 and gave the company an "overweight" rating in a report on Friday, September 5th. Truist Financial began coverage on Neurocrine Biosciences in a report on Monday, July 21st. They issued a "buy" rating and a $163.00 price objective on the stock. Finally, Wall Street Zen upgraded Neurocrine Biosciences from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 2nd. Seventeen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $160.26.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ:NBIX traded up $2.69 on Thursday, hitting $145.42. 275,128 shares of the company's stock were exchanged, compared to its average volume of 1,204,230. The company has a market capitalization of $14.42 billion, a PE ratio of 43.12, a P/E/G ratio of 1.02 and a beta of 0.28. Neurocrine Biosciences, Inc. has a 1-year low of $84.23 and a 1-year high of $154.61. The firm's 50-day moving average is $134.81 and its 200 day moving average is $121.64.

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

Neurocrine Biosciences Profile

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.