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

Nykredit A S bought a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the second quarter, HoldingsChannel reports. The institutional investor bought 37,372 shares of the company’s stock, valued at approximately $6,298,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Royal Bank of Canada increased its stake in Neurocrine Biosciences by 36.7% during the 1st quarter. Royal Bank of Canada now owns 82,810 shares of the company’s stock worth $9,158,000 after buying an additional 22,224 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Neurocrine Biosciences by 60.6% in the 1st 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 grew its stake 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 valued at $844,000 after acquiring an additional 2,747 shares in the last quarter. Empowered Funds LLC acquired a new stake in shares of Neurocrine Biosciences during the first quarter valued at about $1,333,000. Finally, Geneos Wealth Management Inc. increased its position 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 acquiring an additional 135 shares during the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Darin Lippoldt sold 10,000 shares of the stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $179.60, for a total value of $1,796,000.00. Following the completion of the transaction, the insider directly owned 54,729 shares of the company’s stock, valued at $9,829,328.40. This represents a 15.45% decrease in their position. The sale was disclosed in a filing with the SEC, 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 the firm’s stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $181.02, for a total value of $790,514.34. Following the completion of the sale, the insider owned 16,225 shares in the company, valued at approximately $2,937,049.50. This represents a 21.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 40,188 shares of company stock valued at $7,118,633. Insiders own 4.60% of the company’s stock.

Neurocrine Biosciences Price Performance

Shares of NBIX stock opened at $155.64 on Monday. The company has a market cap of $15.82 billion, a P/E ratio of 22.82, a PEG ratio of 0.73 and a beta of 0.38. The business has a 50 day moving average of $165.98 and a two-hundred day moving average of $150.46. Neurocrine Biosciences, Inc. has a 52 week low of $122.14 and a 52 week high of $186.12.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its earnings results on Friday, July 31st. The company reported $2.85 earnings per share for the quarter, topping the consensus estimate of $1.65 by $1.20. Neurocrine Biosciences had a return on equity of 22.43% and a net margin of 20.91%.The firm had revenue of $959.00 million for the quarter, compared to analyst estimates of $891.16 million. During the same period last year, the company earned $1.65 earnings per share. The firm’s revenue for the quarter was up 39.5% on a year-over-year basis. Analysts expect that Neurocrine Biosciences, Inc. will post 7.25 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on NBIX shares. Piper Sandler boosted their price target on Neurocrine Biosciences from $207.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. Weiss Ratings raised Neurocrine Biosciences from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, August 25th. Citigroup increased their target price on Neurocrine Biosciences from $249.00 to $253.00 and gave the company a “buy” rating in a research note on Thursday. BMO Capital Markets lifted their price target on shares of Neurocrine Biosciences from $144.00 to $170.00 and gave the stock a “market perform” rating in a research note on Monday, July 13th. Finally, Guggenheim upped their price target on shares of Neurocrine Biosciences from $200.00 to $222.00 and gave the company a “buy” rating in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Neurocrine Biosciences has a consensus rating of “Moderate Buy” and an average target price of $201.05.

Neurocrine Biosciences 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.