Skandinaviska Enskilda Banken AB publ Buys 2,877 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Skandinaviska Enskilda Banken AB publ grew its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 2.5% in the second quarter, Holdings Channel reports. The fund owned 119,837 shares of the company’s stock after acquiring an additional 2,877 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Neurocrine Biosciences were worth $16,497,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Neurocrine Biosciences by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 9,930,926 shares of the company’s stock valued at $1,369,673,000 after acquiring an additional 220,598 shares during the period. Renaissance Technologies LLC boosted its holdings in Neurocrine Biosciences by 9.6% in the 2nd quarter. Renaissance Technologies LLC now owns 2,468,146 shares of the company’s stock worth $339,790,000 after buying an additional 216,500 shares during the period. Bank of New York Mellon Corp boosted its holdings in Neurocrine Biosciences by 1.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 934,404 shares of the company’s stock worth $128,639,000 after buying an additional 13,069 shares during the period. Vestal Point Capital LP bought a new position in Neurocrine Biosciences in the 4th quarter worth approximately $105,408,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Neurocrine Biosciences by 40.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 710,600 shares of the company’s stock worth $97,828,000 after buying an additional 203,934 shares during the period. 92.59% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Guggenheim raised their price objective on shares of Neurocrine Biosciences from $170.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Oppenheimer raised their price objective on shares of Neurocrine Biosciences from $216.00 to $219.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Citigroup raised their price objective on shares of Neurocrine Biosciences from $150.00 to $158.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. UBS Group raised their price objective on shares of Neurocrine Biosciences from $174.00 to $193.00 and gave the stock a “buy” rating in a report on Tuesday, May 28th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $152.00 price objective on shares of Neurocrine Biosciences in a report on Wednesday, May 29th. Five analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Neurocrine Biosciences presently has an average rating of “Moderate Buy” and an average target price of $162.20.

Insider Buying and Selling

In related news, insider Julie Cooke sold 10,000 shares of Neurocrine Biosciences stock in a transaction on Monday, July 1st. The shares were sold at an average price of $140.19, for a total value of $1,401,900.00. Following the transaction, the insider now owns 18,202 shares in the company, valued at approximately $2,551,738.38. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Julie Cooke sold 10,000 shares of Neurocrine Biosciences stock in a transaction on Monday, July 1st. The shares were sold at an average price of $140.19, for a total value of $1,401,900.00. Following the transaction, the insider now owns 18,202 shares in the company, valued at approximately $2,551,738.38. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gary A. Lyons sold 11,570 shares of Neurocrine Biosciences stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $150.43, for a total transaction of $1,740,475.10. Following the completion of the transaction, the director now owns 119,047 shares in the company, valued at approximately $17,908,240.21. The disclosure for this sale can be found here. Insiders have sold a total of 71,798 shares of company stock worth $10,676,096 in the last 90 days. 4.30% of the stock is owned by company insiders.

Neurocrine Biosciences Stock Performance

Neurocrine Biosciences stock opened at $118.35 on Friday. The firm’s fifty day moving average price is $138.49 and its 200-day moving average price is $138.14. The stock has a market cap of $11.91 billion, a P/E ratio of 32.60 and a beta of 0.37. Neurocrine Biosciences, Inc. has a fifty-two week low of $103.63 and a fifty-two week high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.52). The company had revenue of $590.20 million for the quarter, compared to analysts’ expectations of $545.98 million. Neurocrine Biosciences had a net margin of 16.00% and a return on equity of 14.86%. The business’s quarterly revenue was up 30.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.95 EPS. On average, analysts predict that Neurocrine Biosciences, Inc. will post 4.19 earnings per share for the current year.

Neurocrine Biosciences Company 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.