DNB Asset Management AS Has $19.78 Million Position in Neurocrine Biosciences, Inc. $NBIX

DNB Asset Management AS lifted its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 12.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 139,457 shares of the company’s stock after purchasing an additional 15,349 shares during the period. DNB Asset Management AS’s holdings in Neurocrine Biosciences were worth $19,779,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. JPMorgan Chase & Co. increased its holdings in shares of 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 purchasing an additional 468,405 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of 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 purchasing an additional 1,263,633 shares in the last quarter. Deerfield Management Company L.P. increased its holdings in shares of 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 purchasing an additional 16,543 shares in the last quarter. UBS Group AG increased its holdings in shares of 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 purchasing an additional 618,956 shares in the last quarter. Finally, Pictet Asset Management Holding SA increased its holdings in shares of 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 purchasing an additional 83,488 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on NBIX shares. JPMorgan Chase & Co. lifted their target price on shares of Neurocrine Biosciences from $177.00 to $185.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Zacks Research raised shares of Neurocrine Biosciences from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 15th. Royal Bank Of Canada lifted their target price on shares of Neurocrine Biosciences from $176.00 to $180.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Neurocrine Biosciences in a report on Tuesday, April 21st. Finally, Wedbush lifted their target price on shares of Neurocrine Biosciences from $166.00 to $176.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $184.15.

Neurocrine Biosciences Trading Down 0.4%

NBIX stock opened at $158.42 on Friday. The business’s 50-day moving average price is $134.05 and its two-hundred day moving average price is $138.46. The firm has a market cap of $15.93 billion, a PE ratio of 24.41, a P/E/G ratio of 1.19 and a beta of 0.34. Neurocrine Biosciences, Inc. has a 1-year low of $117.59 and a 1-year high of $162.39.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its earnings results on Wednesday, February 11th. The company reported $1.88 earnings per share for the quarter, missing the consensus estimate of $2.36 by ($0.48). The business had revenue of $805.50 million for the quarter, compared to the consensus estimate of $804.21 million. Neurocrine Biosciences had a return on equity of 19.79% and a net margin of 21.55%.The business’s revenue was up 28.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.69 earnings per share. On average, analysts forecast that Neurocrine Biosciences, Inc. will post 7.16 earnings per share for the current year.

Insiders Place Their Bets

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 value of $590,588.10. Following the sale, the director directly owned 2,429 shares of the company’s stock, valued at approximately $376,519.29. The trade was a 61.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 4.60% of the company’s stock.

About Neurocrine Biosciences

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.