1,146,896 Shares in Neurocrine Biosciences, Inc. $NBIX Acquired by Norges Bank

Norges Bank acquired a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 1,146,896 shares of the company’s stock, valued at approximately $162,664,000. Norges Bank owned about 1.15% of Neurocrine Biosciences at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NBIX. Royal Bank of Canada lifted 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 buying an additional 22,224 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Neurocrine Biosciences by 60.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,783 shares of the company’s stock valued at $1,647,000 after buying an additional 5,577 shares during the last quarter. NewEdge Advisors LLC lifted its stake in Neurocrine Biosciences by 56.3% in the first quarter. NewEdge Advisors LLC now owns 7,630 shares of the company’s stock valued at $844,000 after buying an additional 2,747 shares during the last quarter. Empowered Funds LLC purchased a new stake in Neurocrine Biosciences in the first quarter valued at approximately $1,333,000. Finally, Geneos Wealth Management Inc. lifted its stake in Neurocrine Biosciences by 143.6% in the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after buying an additional 135 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Stock Performance

Neurocrine Biosciences stock opened at $165.11 on Thursday. The firm has a market capitalization of $16.60 billion, a price-to-earnings ratio of 25.44, a price-to-earnings-growth ratio of 1.16 and a beta of 0.40. Neurocrine Biosciences, Inc. has a fifty-two week low of $122.14 and a fifty-two week high of $165.81. The stock’s fifty day moving average is $141.29 and its two-hundred day moving average is $139.38.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Wolfe Research assumed coverage on Neurocrine Biosciences in a research note on Tuesday, February 24th. They issued an “outperform” rating and a $160.00 price objective for the company. Leerink Partners boosted their price objective on Neurocrine Biosciences from $160.00 to $170.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. Royal Bank Of Canada boosted their price objective on Neurocrine Biosciences from $180.00 to $183.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. Wedbush upped their price target on Neurocrine Biosciences from $166.00 to $176.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th. Finally, Wall Street Zen raised Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 25th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $187.52.

Insider Buying and Selling

In other Neurocrine Biosciences news, insider Ingrid Delaet sold 2,261 shares of the company’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $156.71, for a total value of $354,321.31. Following the sale, the insider owned 16,225 shares of the company’s stock, valued at approximately $2,542,619.75. This represents a 12.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jude Onyia sold 11,000 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $160.25, for a total value of $1,762,750.00. Following the completion of the sale, the insider directly owned 25,846 shares in the company, valued at $4,141,821.50. This trade represents a 29.85% decrease in their position. 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 have sold 292,047 shares of company stock valued at $45,216,687 in the last three months. 4.60% of the stock is owned by insiders.

About Neurocrine Biosciences

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.