Handelsinvest Investeringsforvaltning Sells 1,164 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Handelsinvest Investeringsforvaltning trimmed its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 34.2% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 2,241 shares of the company’s stock after selling 1,164 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in Neurocrine Biosciences were worth $309,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. FCF Advisors LLC bought a new position in Neurocrine Biosciences in the 4th quarter valued at $1,157,000. Norges Bank bought a new position in shares of Neurocrine Biosciences in the 4th quarter worth $35,731,000. abrdn plc boosted its position in shares of Neurocrine Biosciences by 2,503.0% in the 4th quarter. abrdn plc now owns 83,633 shares of the company’s stock worth $11,019,000 after purchasing an additional 80,420 shares during the last quarter. Redhawk Wealth Advisors Inc. bought a new position in shares of Neurocrine Biosciences in the 4th quarter worth $1,245,000. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Neurocrine Biosciences by 18.3% in the 4th quarter. The Manufacturers Life Insurance Company now owns 116,955 shares of the company’s stock worth $15,410,000 after purchasing an additional 18,070 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Morgan Stanley restated an “overweight” rating and issued a $160.00 price target on shares of Neurocrine Biosciences in a research report on Wednesday, June 12th. HC Wainwright raised their price target on Neurocrine Biosciences from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Needham & Company LLC reiterated a “hold” rating on shares of Neurocrine Biosciences in a report on Wednesday, May 1st. Barclays lifted their target price on Neurocrine Biosciences from $150.00 to $169.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Finally, Wells Fargo & Company upgraded Neurocrine Biosciences from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $140.00 to $170.00 in a report on Wednesday, April 24th. Six investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $152.00.

Neurocrine Biosciences Stock Up 0.5 %

Shares of NASDAQ NBIX opened at $138.23 on Thursday. The business’s 50 day moving average price is $137.41 and its two-hundred day moving average price is $136.07. The company has a market cap of $13.91 billion, a PE ratio of 38.08 and a beta of 0.37. Neurocrine Biosciences, Inc. has a twelve month low of $93.28 and a twelve month high of $148.37.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.62). The business had revenue of $515.30 million for the quarter, compared to analyst estimates of $512.21 million. Neurocrine Biosciences had a return on equity of 17.45% and a net margin of 18.65%. As a group, research analysts anticipate that Neurocrine Biosciences, Inc. will post 4.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other Neurocrine Biosciences news, insider Eric Benevich sold 19,818 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $133.36, for a total transaction of $2,642,928.48. Following the transaction, the insider now owns 40,778 shares of the company’s stock, valued at $5,438,154.08. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Ingrid Delaet sold 273 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $140.55, for a total transaction of $38,370.15. Following the completion of the sale, the insider now owns 7,507 shares in the company, valued at $1,055,108.85. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Eric Benevich sold 19,818 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $133.36, for a total value of $2,642,928.48. Following the sale, the insider now owns 40,778 shares of the company’s stock, valued at approximately $5,438,154.08. The disclosure for this sale can be found here. Insiders have sold a total of 98,697 shares of company stock valued at $13,377,515 over the last 90 days. 4.30% of the stock is currently owned by insiders.

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.