Swedbank AB Sells 4,700 Shares of Neurocrine Biosciences, Inc. $NBIX

Swedbank AB reduced its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 0.8% in the 1st quarter, HoldingsChannel.com reports. The firm owned 579,429 shares of the company’s stock after selling 4,700 shares during the quarter. Swedbank AB’s holdings in Neurocrine Biosciences were worth $76,334,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Nilsine Partners LLC bought a new position in Neurocrine Biosciences during the fourth quarter worth about $1,197,000. Ruffer LLP acquired a new position in shares of Neurocrine Biosciences during the 4th quarter worth approximately $2,479,000. Korea Investment CORP increased its holdings in shares of Neurocrine Biosciences by 94.3% during the third quarter. Korea Investment CORP now owns 71,689 shares of the company’s stock worth $10,064,000 after purchasing an additional 34,800 shares during the period. Nordea Investment Management AB increased its holdings in shares of Neurocrine Biosciences by 81.3% during the fourth quarter. Nordea Investment Management AB now owns 27,202 shares of the company’s stock worth $3,834,000 after purchasing an additional 12,195 shares during the period. Finally, CIBC Private Wealth Group LLC raised its position in shares of Neurocrine Biosciences by 17,250.0% in the third quarter. CIBC Private Wealth Group LLC now owns 7,981 shares of the company’s stock valued at $1,120,000 after buying an additional 7,935 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors.

Neurocrine Biosciences Stock Performance

Neurocrine Biosciences stock opened at $177.49 on Wednesday. Neurocrine Biosciences, Inc. has a 52 week low of $122.14 and a 52 week high of $178.75. The stock has a market capitalization of $17.85 billion, a P/E ratio of 27.35, a price-to-earnings-growth ratio of 0.69 and a beta of 0.39. The stock has a fifty day moving average of $157.87 and a 200-day moving average of $142.16.

Insider Transactions at Neurocrine Biosciences

In other news, Director Richard F. Pops sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $157.65, for a total value of $2,364,750.00. Following the sale, the director directly owned 34,480 shares in the company, valued at approximately $5,435,772. This trade represents a 30.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Julie Cooke sold 36,937 shares of Neurocrine Biosciences stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $156.22, for a total transaction of $5,770,298.14. Following the sale, the insider directly owned 22,374 shares in the company, valued at $3,495,266.28. This trade represents a 62.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 365,234 shares of company stock valued at $57,031,540. 4.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on NBIX shares. Morgan Stanley increased their price target on Neurocrine Biosciences from $185.00 to $191.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Wedbush upped their target price on Neurocrine Biosciences from $166.00 to $176.00 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. JPMorgan Chase & Co. increased their target price on Neurocrine Biosciences from $177.00 to $185.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Truist Financial raised their price target on Neurocrine Biosciences from $140.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Finally, Weiss Ratings raised Neurocrine Biosciences from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, June 24th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $188.10.

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.