Danske Bank A S Takes Position in Neurocrine Biosciences, Inc. $NBIX

Danske Bank A S bought a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the second quarter, HoldingsChannel reports. The fund bought 52,095 shares of the company’s stock, valued at approximately $8,780,000.

A number of other institutional investors have also modified their holdings of NBIX. Royal Bank of Canada increased its stake in Neurocrine Biosciences by 36.7% in the first quarter. Royal Bank of Canada now owns 82,810 shares of the company’s stock valued at $9,158,000 after purchasing an additional 22,224 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Neurocrine Biosciences by 60.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,783 shares of the company’s stock worth $1,647,000 after buying an additional 5,577 shares during the last quarter. NewEdge Advisors LLC grew its holdings in shares of Neurocrine Biosciences by 56.3% during the first quarter. NewEdge Advisors LLC now owns 7,630 shares of the company’s stock worth $844,000 after buying an additional 2,747 shares during the last quarter. Empowered Funds LLC acquired a new position in Neurocrine Biosciences in the 1st quarter valued at about $1,333,000. Finally, Geneos Wealth Management Inc. raised its stake in Neurocrine Biosciences by 143.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after acquiring an additional 135 shares during the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

Neurocrine Biosciences Stock Down 0.2%

Shares of NBIX stock opened at $152.57 on Friday. The stock has a market cap of $15.51 billion, a P/E ratio of 22.37, a P/E/G ratio of 0.71 and a beta of 0.39. Neurocrine Biosciences, Inc. has a fifty-two week low of $122.14 and a fifty-two week high of $186.12. The business has a fifty day simple moving average of $167.14 and a 200-day simple moving average of $148.88.

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

Analyst Ratings Changes

A number of analysts have weighed in on NBIX shares. JPMorgan Chase & Co. increased their price objective on Neurocrine Biosciences from $177.00 to $185.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. TD Cowen upped their price target on Neurocrine Biosciences from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Canaccord Genuity Group increased their price target on Neurocrine Biosciences from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Truist Financial increased their price target on Neurocrine Biosciences from $200.00 to $213.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Finally, Wedbush lifted their price objective on shares of Neurocrine Biosciences from $185.00 to $194.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $200.86.

Insider Buying and Selling at Neurocrine Biosciences

In other news, Director Leslie V. Norwalk sold 1,250 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $182.01, for a total value of $227,512.50. Following the sale, the director directly owned 1,588 shares in the company, valued at $289,031.88. This represents a 44.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ingrid Delaet sold 4,367 shares of Neurocrine Biosciences stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $181.02, for a total value of $790,514.34. Following the transaction, the insider owned 16,225 shares of the company’s stock, valued at $2,937,049.50. This represents a 21.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 131,524 shares of company stock worth $21,668,924 over the last ninety days. 4.60% of the stock is currently owned by company 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.