Skandinaviska Enskilda Banken AB publ Buys 2,877 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Skandinaviska Enskilda Banken AB publ grew its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 2.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 119,837 shares of the company’s stock after buying an additional 2,877 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned approximately 0.12% of Neurocrine Biosciences worth $16,497,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NBIX. Dimensional Fund Advisors LP grew its stake in shares of Neurocrine Biosciences by 1.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 336,536 shares of the company’s stock worth $44,343,000 after buying an additional 5,907 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in shares of Neurocrine Biosciences by 3.2% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 2,530 shares of the company’s stock worth $333,000 after purchasing an additional 78 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Neurocrine Biosciences by 87.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 8,637 shares of the company’s stock worth $1,138,000 after purchasing an additional 4,030 shares during the last quarter. Norges Bank bought a new stake in shares of Neurocrine Biosciences in the fourth quarter worth $35,731,000. Finally, BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of Neurocrine Biosciences by 162.0% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 3,702 shares of the company’s stock worth $488,000 after purchasing an additional 2,289 shares during the last quarter. Institutional investors own 92.59% of the company’s stock.

Insider Buying and Selling

In related news, Director William H. Rastetter sold 14,250 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $146.69, for a total value of $2,090,332.50. Following the sale, the director now owns 37,491 shares in the company, valued at approximately $5,499,554.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Neurocrine Biosciences news, CFO Matt Abernethy sold 14,100 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $150.38, for a total value of $2,120,358.00. Following the completion of the sale, the chief financial officer now directly owns 31,528 shares of the company’s stock, valued at approximately $4,741,180.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William H. Rastetter sold 14,250 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $146.69, for a total transaction of $2,090,332.50. Following the completion of the sale, the director now directly owns 37,491 shares of the company’s stock, valued at $5,499,554.79. The disclosure for this sale can be found here. Insiders have sold 71,798 shares of company stock worth $10,676,096 in the last quarter. Insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Price Performance

NBIX opened at $118.35 on Friday. Neurocrine Biosciences, Inc. has a fifty-two week low of $103.63 and a fifty-two week high of $157.98. The firm has a market capitalization of $11.91 billion, a PE ratio of 32.60 and a beta of 0.37. The company’s 50-day moving average is $138.49 and its 200 day moving average is $138.14.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its earnings results on Thursday, August 1st. The company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.52). Neurocrine Biosciences had a return on equity of 14.86% and a net margin of 16.00%. The business had revenue of $590.20 million during the quarter, compared to analyst estimates of $545.98 million. During the same quarter in the prior year, the company earned $0.95 EPS. The company’s revenue was up 30.4% on a year-over-year basis. As a group, analysts expect that Neurocrine Biosciences, Inc. will post 4.19 EPS for the current year.

Analysts Set New Price Targets

NBIX has been the topic of several analyst reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $155.00 price objective on shares of Neurocrine Biosciences in a research note on Monday, September 16th. Wedbush reissued an “outperform” rating and issued a $152.00 price objective on shares of Neurocrine Biosciences in a research note on Wednesday, May 29th. Citigroup boosted their price objective on shares of Neurocrine Biosciences from $150.00 to $158.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Morgan Stanley upped their price target on shares of Neurocrine Biosciences from $160.00 to $170.00 and gave the company an “overweight” rating in a research report on Friday, July 12th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $190.00 price target on shares of Neurocrine Biosciences in a research report on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $162.20.

Neurocrine Biosciences 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.