Forsta AP Fonden Reduces Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Forsta AP Fonden decreased its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 4.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,600 shares of the company’s stock after selling 1,600 shares during the period. Forsta AP Fonden’s holdings in Neurocrine Biosciences were worth $4,488,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Jupiter Asset Management Ltd. increased its position in shares of Neurocrine Biosciences by 40.6% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 307,100 shares of the company’s stock worth $42,278,000 after purchasing an additional 88,634 shares during the last quarter. Headlands Technologies LLC increased its position in shares of Neurocrine Biosciences by 4,477.3% in the 2nd quarter. Headlands Technologies LLC now owns 9,063 shares of the company’s stock worth $1,248,000 after purchasing an additional 8,865 shares during the last quarter. Daiwa Securities Group Inc. increased its position in shares of Neurocrine Biosciences by 2.5% in the 2nd quarter. Daiwa Securities Group Inc. now owns 8,801 shares of the company’s stock worth $1,212,000 after purchasing an additional 211 shares during the last quarter. Andra AP fonden increased its position in shares of Neurocrine Biosciences by 116.8% in the 2nd quarter. Andra AP fonden now owns 161,300 shares of the company’s stock worth $22,206,000 after purchasing an additional 86,900 shares during the last quarter. Finally, Choreo LLC bought a new stake in shares of Neurocrine Biosciences in the 2nd quarter worth about $244,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Price Performance

NBIX stock opened at $122.25 on Friday. Neurocrine Biosciences, Inc. has a 52-week low of $103.63 and a 52-week high of $157.98. The company’s 50 day simple moving average is $140.95 and its 200-day simple moving average is $138.59. The firm has a market capitalization of $12.34 billion, a P/E ratio of 33.68 and a beta of 0.37.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.52). Neurocrine Biosciences had a net margin of 16.00% and a return on equity of 14.86%. The company had revenue of $590.20 million for the quarter, compared to analysts’ expectations of $545.98 million. During the same period in the previous year, the firm posted $0.95 earnings per share. The business’s revenue for the quarter was up 30.4% on a year-over-year basis. Sell-side analysts predict that Neurocrine Biosciences, Inc. will post 4.19 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on NBIX shares. JPMorgan Chase & Co. lifted their price target on shares of Neurocrine Biosciences from $173.00 to $181.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Barclays decreased their price target on shares of Neurocrine Biosciences from $180.00 to $160.00 and set an “overweight” rating for the company in a report on Monday, September 9th. Robert W. Baird lifted their price target on shares of Neurocrine Biosciences from $157.00 to $180.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Wedbush reaffirmed an “outperform” rating and issued a $152.00 price target on shares of Neurocrine Biosciences in a report on Wednesday, May 29th. Finally, Jefferies Financial Group lifted their price target on shares of Neurocrine Biosciences from $177.00 to $189.00 and gave the company a “buy” rating in a report on Monday, August 19th. Five equities research 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 stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $162.20.

Insider Activity at Neurocrine Biosciences

In related news, CFO Matt Abernethy sold 14,100 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $150.38, for a total transaction of $2,120,358.00. Following the transaction, the chief financial officer now directly owns 31,528 shares of the company’s stock, valued at $4,741,180.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Neurocrine Biosciences news, CFO Matt Abernethy sold 14,100 shares of the business’s stock in a transaction that occurred on 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 $4,741,180.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Julie Cooke sold 12,632 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $153.26, for a total transaction of $1,935,980.32. Following the completion of the sale, the insider now directly owns 18,202 shares of the company’s stock, valued at $2,789,638.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 71,798 shares of company stock valued at $10,676,096. Corporate insiders own 4.30% of the company’s stock.

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.