Handelsbanken Fonder AB Purchases 4,600 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Handelsbanken Fonder AB raised its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 20.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,867 shares of the company’s stock after acquiring an additional 4,600 shares during the period. Handelsbanken Fonder AB’s holdings in Neurocrine Biosciences were worth $3,096,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Mather Group LLC. purchased a new stake in Neurocrine Biosciences during the first quarter valued at $26,000. RFP Financial Group LLC increased its holdings in shares of Neurocrine Biosciences by 346.5% in the 1st quarter. RFP Financial Group LLC now owns 192 shares of the company’s stock worth $26,000 after buying an additional 149 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Neurocrine Biosciences during the 2nd quarter valued at about $28,000. Innealta Capital LLC purchased a new stake in shares of Neurocrine Biosciences during the 2nd quarter valued at about $30,000. Finally, New Covenant Trust Company N.A. bought a new position in shares of Neurocrine Biosciences in the 1st quarter valued at about $32,000. 92.59% of the stock is currently owned by institutional investors.

Neurocrine Biosciences Price Performance

NASDAQ:NBIX opened at $111.66 on Wednesday. Neurocrine Biosciences, Inc. has a 1-year low of $103.63 and a 1-year high of $157.98. The company has a 50-day moving average of $131.04 and a 200 day moving average of $136.07. The firm has a market cap of $11.24 billion, a PE ratio of 30.76 and a beta of 0.36.

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

Insiders Place Their Bets

In other news, Director William H. Rastetter sold 14,250 shares of Neurocrine Biosciences stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $146.69, for a total value of $2,090,332.50. Following the transaction, the director now directly owns 37,491 shares in the company, valued at approximately $5,499,554.79. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Julie Cooke sold 900 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $150.04, for a total value of $135,036.00. Following the sale, the insider now directly owns 18,202 shares in the company, valued at approximately $2,731,028.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William H. Rastetter sold 14,250 shares of Neurocrine Biosciences stock in a transaction that occurred on 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 transaction, the director now directly owns 37,491 shares in the company, valued at approximately $5,499,554.79. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 61,798 shares of company stock worth $9,274,196 over the last 90 days. Company insiders own 4.30% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on NBIX. Needham & Company LLC restated a “hold” rating on shares of Neurocrine Biosciences in a research report on Thursday, August 29th. Piper Sandler upgraded Neurocrine Biosciences from a “neutral” rating to an “overweight” rating and increased their price target for the company from $131.00 to $159.00 in a report on Thursday, August 29th. Citigroup raised their price target on Neurocrine Biosciences from $150.00 to $158.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Jefferies Financial Group boosted their price objective on shares of Neurocrine Biosciences from $177.00 to $189.00 and gave the company a “buy” rating in a research report on Monday, August 19th. Finally, BMO Capital Markets lowered their target price on shares of Neurocrine Biosciences from $142.00 to $128.00 and set a “market perform” rating for the company in a report on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Neurocrine Biosciences currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.09.

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.