Forsta AP Fonden Sells 10,400 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Forsta AP Fonden lowered its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 31.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,200 shares of the company’s stock after selling 10,400 shares during the period. Forsta AP Fonden’s holdings in Neurocrine Biosciences were worth $2,558,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of NBIX. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Neurocrine Biosciences by 3.5% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 252,565 shares of the company’s stock worth $34,834,000 after buying an additional 8,630 shares during the period. Van ECK Associates Corp raised its stake in shares of Neurocrine Biosciences by 1,325.5% during the first quarter. Van ECK Associates Corp now owns 92,243 shares of the company’s stock valued at $12,722,000 after acquiring an additional 85,772 shares in the last quarter. Twin Tree Management LP increased its holdings in Neurocrine Biosciences by 59.4% during the 1st quarter. Twin Tree Management LP now owns 19,147 shares of the company’s stock worth $2,641,000 after purchasing an additional 7,136 shares during the period. Redwood Investment Management LLC bought a new stake in Neurocrine Biosciences during the 1st quarter valued at $642,000. Finally, Inspire Investing LLC lifted its holdings in shares of Neurocrine Biosciences by 96.7% in the 1st quarter. Inspire Investing LLC now owns 12,296 shares of the company’s stock worth $1,696,000 after buying an additional 6,045 shares during the period. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Analyst Ratings Changes

NBIX has been the subject of several recent research reports. Royal Bank of Canada decreased their price objective on Neurocrine Biosciences from $136.00 to $133.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. Barclays lowered their price target on shares of Neurocrine Biosciences from $180.00 to $160.00 and set an “overweight” rating for the company in a research report on Monday, September 9th. Morgan Stanley lifted their price objective on shares of Neurocrine Biosciences from $160.00 to $170.00 and gave the company an “overweight” rating in a report on Friday, July 12th. Citigroup upped their target price on Neurocrine Biosciences from $150.00 to $158.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Finally, Piper Sandler upgraded Neurocrine Biosciences from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $131.00 to $159.00 in a report on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Neurocrine Biosciences has a consensus rating of “Moderate Buy” and an average target price of $163.91.

Insider Activity

In related news, Director William H. Rastetter sold 14,250 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $146.69, for a total transaction of $2,090,332.50. Following the completion of the transaction, the director now directly owns 37,491 shares in the company, valued at $5,499,554.79. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Ingrid Delaet sold 273 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $147.70, for a total value of $40,322.10. Following the completion of the transaction, the insider now directly owns 6,607 shares in the company, valued at $975,853.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director William H. Rastetter sold 14,250 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $146.69, for a total transaction of $2,090,332.50. Following the sale, the director now owns 37,491 shares in the company, valued at approximately $5,499,554.79. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,336 shares of company stock valued at $7,063,652 in the last ninety days. Insiders own 4.30% of the company’s stock.

Neurocrine Biosciences Stock Performance

Shares of NBIX stock opened at $124.33 on Thursday. Neurocrine Biosciences, Inc. has a fifty-two week low of $103.63 and a fifty-two week high of $157.98. The firm has a market capitalization of $12.55 billion, a PE ratio of 37.56 and a beta of 0.36. The stock’s 50-day simple moving average is $121.02 and its 200-day simple moving average is $133.65.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.52). Neurocrine Biosciences had a return on equity of 14.86% and a net margin of 16.00%. The business had revenue of $590.20 million for the quarter, compared to analysts’ expectations of $545.98 million. During the same period in the prior year, the business posted $0.95 earnings per share. The business’s quarterly revenue was up 30.4% compared to the same quarter last year. Sell-side analysts forecast that Neurocrine Biosciences, Inc. will post 4.37 earnings per share for the current year.

Neurocrine Biosciences Profile

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.