Swedbank AB Has $47.52 Million Stock Holdings in Neurocrine Biosciences, Inc. $NBIX

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 boosted its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 5,078.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 429,697 shares of the company's stock after purchasing an additional 421,400 shares during the quarter. Swedbank AB owned about 0.43% of Neurocrine Biosciences worth $47,524,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. DE Burlo Group Inc. lifted its stake in shares of Neurocrine Biosciences by 2.2% during the 1st quarter. DE Burlo Group Inc. now owns 4,717 shares of the company's stock worth $522,000 after buying an additional 100 shares during the last quarter. Nissay Asset Management Corp Japan ADV lifted its position in Neurocrine Biosciences by 0.9% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 12,293 shares of the company's stock worth $1,360,000 after acquiring an additional 107 shares during the last quarter. Sheaff Brock Investment Advisors LLC boosted its holdings in shares of Neurocrine Biosciences by 4.8% during the first quarter. Sheaff Brock Investment Advisors LLC now owns 2,619 shares of the company's stock worth $290,000 after acquiring an additional 120 shares during the period. Geneos Wealth Management Inc. grew its position in shares of Neurocrine Biosciences by 143.6% in the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company's stock valued at $25,000 after purchasing an additional 135 shares during the last quarter. Finally, Aurora Investment Counsel increased its stake in shares of Neurocrine Biosciences by 1.3% during the first quarter. Aurora Investment Counsel now owns 10,520 shares of the company's stock worth $1,164,000 after purchasing an additional 138 shares during the period. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Neurocrine Biosciences

In related 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 of the company's stock, valued at $638,550. This trade represents a 8.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kevin Charles Gorman sold 106,322 shares of the company's stock in a transaction dated 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 completion of the transaction, the director directly owned 514,596 shares of the company's stock, valued at approximately $65,050,080.36. The trade was a 17.12% 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 quarter. Corporate insiders own 4.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Piper Sandler boosted their price target on Neurocrine Biosciences from $154.00 to $175.00 and gave the company an "overweight" 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 report on Saturday, August 2nd. The Goldman Sachs Group assumed coverage on shares of Neurocrine Biosciences in a research note on Thursday, July 10th. They issued a "buy" rating and a $182.00 price target on the stock. Truist Financial started coverage on shares of Neurocrine Biosciences in a research note on Monday, July 21st. They issued a "buy" rating and a $163.00 price objective for the company. Finally, Royal Bank Of Canada boosted their price objective on shares of Neurocrine Biosciences from $144.00 to $149.00 and gave the company an "outperform" rating in a report on Friday, September 5th. Seventeen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Neurocrine Biosciences has a consensus rating of "Moderate Buy" and a consensus price target of $160.26.

Neurocrine Biosciences Price Performance

NASDAQ:NBIX traded up $0.46 during trading hours on Tuesday, hitting $140.90. The company's stock had a trading volume of 780,536 shares, compared to its average volume of 1,213,063. The company has a market capitalization of $13.97 billion, a P/E ratio of 41.69, a PEG ratio of 1.02 and a beta of 0.28. Neurocrine Biosciences, Inc. has a twelve month low of $84.23 and a twelve month high of $154.61. The stock has a fifty day simple moving average of $134.63 and a 200-day simple moving average of $121.49.

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

Neurocrine Biosciences Company 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.