Swedbank AB Raises Stake in Neurocrine Biosciences, Inc. $NBIX

Swedbank AB lifted its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 8.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 547,329 shares of the company’s stock after purchasing an additional 43,827 shares during the period. Swedbank AB’s holdings in Neurocrine Biosciences were worth $76,834,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its position in Neurocrine Biosciences by 59.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,261,747 shares of the company’s stock valued at $535,659,000 after buying an additional 1,590,749 shares during the period. Norges Bank purchased a new position in shares of Neurocrine Biosciences during the second quarter worth approximately $122,278,000. Los Angeles Capital Management LLC raised its stake in shares of Neurocrine Biosciences by 19,454.9% during the second quarter. Los Angeles Capital Management LLC now owns 744,650 shares of the company’s stock valued at $93,595,000 after acquiring an additional 740,842 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Neurocrine Biosciences by 40.5% in the second quarter. AQR Capital Management LLC now owns 1,510,015 shares of the company’s stock valued at $189,794,000 after purchasing an additional 435,385 shares during the period. Finally, Adage Capital Partners GP L.L.C. bought a new position in Neurocrine Biosciences in the second quarter worth approximately $42,933,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Stock Performance

NBIX opened at $146.89 on Thursday. The stock has a market capitalization of $14.65 billion, a price-to-earnings ratio of 35.14, a PEG ratio of 0.97 and a beta of 0.27. Neurocrine Biosciences, Inc. has a fifty-two week low of $84.23 and a fifty-two week high of $160.18. The company has a fifty day moving average of $146.76 and a two-hundred day moving average of $138.49.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.59. The company had revenue of $794.90 million for the quarter, compared to analysts’ expectations of $746.61 million. Neurocrine Biosciences had a return on equity of 15.82% and a net margin of 15.95%.Neurocrine Biosciences’s revenue was up 27.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.81 EPS. On average, equities research analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director Leslie V. Norwalk sold 1,190 shares of the stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $155.09, for a total value of $184,557.10. Following the completion of the sale, the director owned 6,239 shares in the company, valued at approximately $967,606.51. This represents a 16.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William H. Rastetter sold 18,000 shares of the stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $151.82, for a total value of $2,732,760.00. Following the completion of the sale, the director directly owned 40,360 shares of the company’s stock, valued at approximately $6,127,455.20. This represents a 30.84% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 43,866 shares of company stock valued at $6,570,237. 4.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NBIX. Needham & Company LLC lifted their target price on Neurocrine Biosciences from $170.00 to $184.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Zacks Research upgraded Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 15th. Stifel Nicolaus lifted their price objective on Neurocrine Biosciences from $183.00 to $188.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Citigroup upped their price objective on shares of Neurocrine Biosciences from $175.00 to $203.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Finally, Mizuho increased their target price on shares of Neurocrine Biosciences from $146.00 to $175.00 and gave the stock a “neutral” rating in a report on Friday, December 12th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Neurocrine Biosciences has an average rating of “Moderate Buy” and an average price target of $175.25.

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.