Skandinaviska Enskilda Banken AB publ Has $24.73 Million Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Skandinaviska Enskilda Banken AB publ cut its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 40.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 180,406 shares of the company’s stock after selling 123,436 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned approximately 0.18% of Neurocrine Biosciences worth $24,728,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of NBIX. Louisiana State Employees Retirement System grew its stake in shares of Neurocrine Biosciences by 0.4% in the 4th quarter. Louisiana State Employees Retirement System now owns 28,100 shares of the company’s stock worth $3,836,000 after acquiring an additional 100 shares in the last quarter. Metis Global Partners LLC lifted its position in shares of Neurocrine Biosciences by 4.3% during the fourth quarter. Metis Global Partners LLC now owns 2,548 shares of the company’s stock valued at $348,000 after purchasing an additional 104 shares in the last quarter. Commerce Bank boosted its holdings in Neurocrine Biosciences by 2.6% during the third quarter. Commerce Bank now owns 4,199 shares of the company’s stock worth $484,000 after purchasing an additional 108 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its position in Neurocrine Biosciences by 2.7% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,302 shares of the company’s stock worth $496,000 after purchasing an additional 113 shares in the last quarter. Finally, Brooklyn Investment Group increased its stake in Neurocrine Biosciences by 99.1% in the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock valued at $32,000 after buying an additional 115 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 5,844 shares of the company’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $116.69, for a total value of $681,936.36. Following the transaction, the director now directly owns 521,618 shares in the company, valued at $60,867,604.42. This represents a 1.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ingrid Delaet sold 1,091 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $135.00, for a total value of $147,285.00. Following the sale, the insider now owns 2,507 shares of the company’s stock, valued at approximately $338,445. This trade represents a 30.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 234,269 shares of company stock valued at $34,053,879 in the last three months. Company insiders own 4.30% of the company’s stock.

Analyst Ratings Changes

NBIX has been the topic of a number of research analyst reports. Barclays boosted their target price on Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, December 23rd. Morgan Stanley reissued an “overweight” rating and issued a $150.00 price objective (down previously from $185.00) on shares of Neurocrine Biosciences in a research report on Friday, March 7th. Piper Sandler reaffirmed an “overweight” rating and set a $160.00 target price on shares of Neurocrine Biosciences in a research report on Monday, December 23rd. Royal Bank of Canada lowered their target price on Neurocrine Biosciences from $154.00 to $148.00 and set a “sector perform” rating on the stock in a research note on Friday, February 7th. Finally, Canaccord Genuity Group reduced their price target on shares of Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $165.24.

Neurocrine Biosciences Stock Down 0.1 %

Shares of NASDAQ NBIX opened at $108.99 on Friday. The company has a market cap of $10.87 billion, a P/E ratio of 33.13, a P/E/G ratio of 0.77 and a beta of 0.35. Neurocrine Biosciences, Inc. has a 52 week low of $105.18 and a 52 week high of $157.98. The business has a 50-day simple moving average of $130.23 and a two-hundred day simple moving average of $126.17.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Thursday, February 6th. The company reported $1.00 EPS for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.62). Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.38%. Equities research analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Neurocrine Biosciences announced that its Board of Directors has authorized a share repurchase plan on Friday, February 21st that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 4.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

About Neurocrine Biosciences

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.