Nordea Investment Management AB Grows Stock Holdings in Neurocrine Biosciences, Inc. $NBIX

Nordea Investment Management AB lifted its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 15.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,824 shares of the company’s stock after purchasing an additional 1,196 shares during the period. Nordea Investment Management AB’s holdings in Neurocrine Biosciences were worth $1,114,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. raised its holdings in shares of Neurocrine Biosciences by 143.6% during the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after purchasing an additional 135 shares during the period. WPG Advisers LLC bought a new position in Neurocrine Biosciences in the 1st quarter valued at about $32,000. Smallwood Wealth Investment Management LLC acquired a new stake in Neurocrine Biosciences in the 1st quarter valued at about $34,000. SVB Wealth LLC acquired a new stake in Neurocrine Biosciences in the 1st quarter valued at about $35,000. Finally, Golden State Wealth Management LLC boosted its holdings in shares of Neurocrine Biosciences by 116.9% in the first quarter. Golden State Wealth Management LLC now owns 397 shares of the company’s stock worth $44,000 after buying an additional 214 shares during the period. 92.59% of the stock is owned by institutional investors and hedge funds.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ NBIX opened at $143.67 on Friday. The stock has a market cap of $14.25 billion, a PE ratio of 42.51, a PEG ratio of 1.00 and a beta of 0.21. The business has a fifty day moving average of $139.71 and a two-hundred day moving average of $127.13. Neurocrine Biosciences, Inc. has a 52-week low of $84.23 and a 52-week high of $154.61.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.08. Neurocrine Biosciences had a return on equity of 13.22% and a net margin of 13.88%.The company had revenue of $687.50 million during the quarter, compared to analysts’ expectations of $653.09 million. During the same period last year, the business earned $1.63 earnings per share. The business’s revenue was up 16.5% on a year-over-year basis. Analysts predict that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on NBIX shares. Citigroup assumed coverage on shares of Neurocrine Biosciences in a research report on Tuesday. They issued a “buy” rating and a $175.00 price target for the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Neurocrine Biosciences in a report on Wednesday, October 8th. Truist Financial started coverage on Neurocrine Biosciences in a report on Monday, July 21st. They set a “buy” rating and a $163.00 price target on the stock. Needham & Company LLC raised their price objective on shares of Neurocrine Biosciences from $161.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. Finally, Stifel Nicolaus raised their price objective on shares of Neurocrine Biosciences from $166.00 to $174.00 and gave the stock a “buy” rating in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $164.32.

Insider Activity

In related news, Director Kevin Charles Gorman sold 106,322 shares of Neurocrine Biosciences stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $126.41, for a total value of $13,440,164.02. Following the completion of the transaction, the director directly owned 514,596 shares of the company’s stock, valued at $65,050,080.36. The trade was a 17.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 4.80% of the stock is owned by corporate insiders.

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.