Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Holdings Raised by Tredje AP fonden

Key Points

• Tredje AP fonden significantly increased its stake in Neurocrine Biosciences, purchasing an additional 27,704 shares to own a total valued at $4.10 million.
• Neurocrine Biosciences posted a net revenue of $687.50 million for the latest quarter, exceeding analysts' expectations and reflecting a 16.5% increase year-over-year.
• Analysts show strong confidence in Neurocrine Biosciences with many maintaining a "buy" rating, and an average price target of $163.87 for the stock.

Tredje AP fonden raised its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 295.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,068 shares of the company's stock after buying an additional 27,704 shares during the period. Tredje AP fonden's holdings in Neurocrine Biosciences were worth $4,100,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in NBIX. Dodge & Cox lifted its position in Neurocrine Biosciences by 134.2% during the fourth quarter. Dodge & Cox now owns 3,016,425 shares of the company's stock valued at $411,742,000 after acquiring an additional 1,728,605 shares during the last quarter. Wellington Management Group LLP lifted its position in Neurocrine Biosciences by 102.9% during the fourth quarter. Wellington Management Group LLP now owns 1,457,425 shares of the company's stock valued at $198,939,000 after acquiring an additional 739,199 shares during the last quarter. Orbimed Advisors LLC increased its stake in Neurocrine Biosciences by 210.4% during the 4th quarter. Orbimed Advisors LLC now owns 938,120 shares of the company's stock valued at $128,053,000 after purchasing an additional 635,900 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in Neurocrine Biosciences by 1,405.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 393,455 shares of the company's stock valued at $43,516,000 after purchasing an additional 367,315 shares in the last quarter. Finally, Norges Bank acquired a new position in Neurocrine Biosciences during the 4th quarter valued at approximately $44,403,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Ingrid Delaet sold 457 shares of the company's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $135.00, for a total value of $61,695.00. Following the transaction, the insider directly owned 4,730 shares in the company, valued at approximately $638,550. This represents a 8.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kevin Charles Gorman sold 9,613 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $120.38, for a total transaction of $1,157,212.94. Following the transaction, the director owned 514,596 shares in the company, valued at approximately $61,947,066.48. The trade was a 1.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 120,251 shares of company stock valued at $14,978,602 in the last quarter. Insiders own 4.80% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. HC Wainwright cut their price target on shares of Neurocrine Biosciences from $185.00 to $168.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Canaccord Genuity Group upped their price target on shares of Neurocrine Biosciences from $158.00 to $160.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th. Evercore ISI cut their price objective on shares of Neurocrine Biosciences from $190.00 to $185.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Guggenheim increased their price objective on shares of Neurocrine Biosciences from $165.00 to $175.00 and gave the stock a "buy" rating in a research note on Friday. Finally, Wall Street Zen upgraded shares of Neurocrine Biosciences from a "hold" rating to a "strong-buy" rating in a research note on Saturday. Three investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $160.90.

Neurocrine Biosciences Price Performance

Shares of NBIX stock traded up $0.68 during trading on Friday, reaching $128.91. The company's stock had a trading volume of 1,395,006 shares, compared to its average volume of 901,206. Neurocrine Biosciences, Inc. has a 1-year low of $84.23 and a 1-year high of $157.40. The stock's 50-day moving average price is $128.26 and its 200 day moving average price is $120.88. The company has a market capitalization of $12.79 billion, a price-to-earnings ratio of 38.14, a P/E/G ratio of 1.32 and a beta of 0.25.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.98 by $0.08. The firm had revenue of $687.50 million during 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%. Neurocrine Biosciences's revenue for the quarter was up 16.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.63 EPS. On average, sell-side analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal 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.