18,500 Shares in Neurocrine Biosciences, Inc. $NBIX Purchased by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 18,500 shares of the company’s stock, valued at approximately $3,117,000.

Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in Neurocrine Biosciences in the 2nd quarter valued at approximately $2,310,886,000. AQR Capital Management LLC boosted its position in Neurocrine Biosciences by 18.0% during the fourth quarter. AQR Capital Management LLC now owns 3,271,706 shares of the company’s stock worth $462,652,000 after purchasing an additional 498,058 shares in the last quarter. Renaissance Technologies LLC boosted its position in Neurocrine Biosciences by 8.0% during the first quarter. Renaissance Technologies LLC now owns 2,418,897 shares of the company’s stock worth $318,665,000 after purchasing an additional 180,100 shares in the last quarter. Geode Capital Management LLC grew its holdings in Neurocrine Biosciences by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 2,059,282 shares of the company’s stock valued at $291,342,000 after purchasing an additional 34,457 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its holdings in Neurocrine Biosciences by 7.4% in the fourth quarter. Los Angeles Capital Management LLC now owns 1,291,278 shares of the company’s stock valued at $178,248,000 after purchasing an additional 88,522 shares during the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Zacks Research downgraded Neurocrine Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Piper Sandler lifted their target price on shares of Neurocrine Biosciences from $207.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Cantor Fitzgerald upped their price target on shares of Neurocrine Biosciences from $210.00 to $215.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Guggenheim increased their price target on shares of Neurocrine Biosciences from $200.00 to $222.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Finally, Stifel Nicolaus raised their price objective on shares of Neurocrine Biosciences from $188.00 to $215.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $200.86.

Neurocrine Biosciences Trading Down 1.2%

Neurocrine Biosciences stock opened at $154.06 on Friday. The stock has a market cap of $15.66 billion, a PE ratio of 22.59, a P/E/G ratio of 0.73 and a beta of 0.39. The stock has a 50-day moving average price of $166.77 and a 200 day moving average price of $149.43. Neurocrine Biosciences, Inc. has a 52 week low of $122.14 and a 52 week high of $186.12.

Neurocrine Biosciences (NASDAQ:NBIX) last released its earnings results on Friday, July 31st. The company reported $2.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.65 by $1.20. Neurocrine Biosciences had a net margin of 20.91% and a return on equity of 22.43%. The company had revenue of $959.00 million for the quarter, compared to analyst estimates of $891.16 million. During the same period in the prior year, the firm earned $1.65 EPS. The firm’s quarterly revenue was up 39.5% on a year-over-year basis. On average, equities analysts predict that Neurocrine Biosciences, Inc. will post 7.25 EPS for the current year.

Insiders Place Their Bets

In related news, insider Jude Onyia sold 11,000 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $160.25, for a total transaction of $1,762,750.00. Following the transaction, the insider owned 25,846 shares of the company’s stock, valued at approximately $4,141,821.50. This represents a 29.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephen A. Sherwin sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $165.32, for a total transaction of $4,133,000.00. Following the sale, the director owned 15,860 shares in the company, valued at approximately $2,621,975.20. This trade represents a 61.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 114,375 shares of company stock valued at $18,994,756. 4.60% of the stock is currently owned by insiders.

Neurocrine Biosciences Company Profile

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.