Handelsbanken Fonder AB Grows Stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Handelsbanken Fonder AB raised its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 8.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,867 shares of the company’s stock after acquiring an additional 1,500 shares during the period. Handelsbanken Fonder AB’s holdings in Neurocrine Biosciences were worth $2,486,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Headinvest LLC purchased a new stake in shares of Neurocrine Biosciences in the third quarter worth $28,000. Lindbrook Capital LLC grew its stake in shares of Neurocrine Biosciences by 85.0% in the fourth quarter. Lindbrook Capital LLC now owns 209 shares of the company’s stock worth $28,000 after acquiring an additional 96 shares during the last quarter. BluePath Capital Management LLC purchased a new stake in shares of Neurocrine Biosciences in the third quarter worth $35,000. Sunbelt Securities Inc. grew its stake in shares of Neurocrine Biosciences by 34.3% in the third quarter. Sunbelt Securities Inc. now owns 325 shares of the company’s stock worth $37,000 after acquiring an additional 83 shares during the last quarter. Finally, Fifth Third Bancorp grew its stake in shares of Neurocrine Biosciences by 51.3% in the third quarter. Fifth Third Bancorp now owns 622 shares of the company’s stock worth $70,000 after acquiring an additional 211 shares during the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Neurocrine Biosciences in a research report on Tuesday. HC Wainwright reaffirmed a “buy” rating and set a $150.00 price objective on shares of Neurocrine Biosciences in a research report on Wednesday. Oppenheimer reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Neurocrine Biosciences in a research report on Wednesday. The Goldman Sachs Group increased their price objective on Neurocrine Biosciences from $134.00 to $153.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Finally, StockNews.com raised Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 8th. Six equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Neurocrine Biosciences currently has a consensus rating of “Moderate Buy” and an average price target of $142.38.

Neurocrine Biosciences Stock Down 1.3 %

NASDAQ NBIX opened at $135.99 on Friday. The stock’s 50-day moving average price is $136.63 and its 200-day moving average price is $127.85. Neurocrine Biosciences, Inc. has a 52 week low of $89.04 and a 52 week high of $148.37. The company has a market capitalization of $13.53 billion, a P/E ratio of 56.19 and a beta of 0.25.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its earnings results on Wednesday, February 7th. The company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.31. The company had revenue of $515.20 million for the quarter, compared to the consensus estimate of $518.52 million. Neurocrine Biosciences had a return on equity of 12.85% and a net margin of 13.23%. The firm’s quarterly revenue was up 25.0% on a year-over-year basis. During the same quarter last year, the company earned $0.88 EPS. Research analysts anticipate that Neurocrine Biosciences, Inc. will post 4.83 EPS for the current year.

Insider Activity at Neurocrine Biosciences

In related news, insider Eiry Roberts sold 1,457 shares of Neurocrine Biosciences stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $140.79, for a total transaction of $205,131.03. Following the sale, the insider now owns 20,832 shares of the company’s stock, valued at approximately $2,932,937.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Neurocrine Biosciences news, CFO Matt Abernethy sold 1,283 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $140.72, for a total transaction of $180,543.76. Following the completion of the transaction, the chief financial officer now owns 28,284 shares in the company, valued at approximately $3,980,124.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Eiry Roberts sold 1,457 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $140.79, for a total value of $205,131.03. Following the transaction, the insider now owns 20,832 shares of the company’s stock, valued at approximately $2,932,937.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 186,994 shares of company stock valued at $25,806,409. 4.40% of the stock is owned by company insiders.

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.