Skandinaviska Enskilda Banken AB publ Reduces Holdings in Neurocrine Biosciences, Inc. $NBIX

Skandinaviska Enskilda Banken AB publ reduced its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 15.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 61,118 shares of the company’s stock after selling 11,272 shares during the period. Skandinaviska Enskilda Banken AB publ owned 0.06% of Neurocrine Biosciences worth $8,576,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in NBIX. M&G PLC acquired a new position in Neurocrine Biosciences during the third quarter worth approximately $11,716,000. Pallas Capital Advisors LLC increased its holdings in shares of Neurocrine Biosciences by 65.2% in the 3rd quarter. Pallas Capital Advisors LLC now owns 15,513 shares of the company’s stock valued at $2,178,000 after acquiring an additional 6,120 shares during the period. JPMorgan Chase & Co. raised its position in Neurocrine Biosciences by 11.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,730,152 shares of the company’s stock valued at $664,019,000 after purchasing an additional 468,405 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its stake in Neurocrine Biosciences by 2.6% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 34,865 shares of the company’s stock worth $4,894,000 after purchasing an additional 891 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in Neurocrine Biosciences by 8.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 4,768 shares of the company’s stock worth $669,000 after purchasing an additional 384 shares during the period. 92.59% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Neurocrine Biosciences

In related news, CEO Kyle Gano sold 36,400 shares of the company’s stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $132.70, for a total value of $4,830,280.00. Following the sale, the chief executive officer owned 140,407 shares in the company, valued at $18,632,008.90. This represents a 20.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Leslie V. Norwalk sold 1,190 shares of Neurocrine Biosciences stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $155.09, for a total value of $184,557.10. Following the transaction, the director directly owned 6,239 shares of the company’s stock, valued at approximately $967,606.51. This represents a 16.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 61,966 shares of company stock worth $8,625,166 over the last three months. 4.80% of the stock is currently owned by company insiders.

Neurocrine Biosciences Price Performance

Neurocrine Biosciences stock opened at $128.38 on Thursday. The stock’s 50 day moving average price is $138.43 and its 200 day moving average price is $140.34. Neurocrine Biosciences, Inc. has a 1-year low of $84.23 and a 1-year high of $160.18. The company has a market cap of $12.88 billion, a PE ratio of 27.55, a price-to-earnings-growth ratio of 0.65 and a beta of 0.31.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Wednesday, February 11th. The company reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.36 by ($0.48). The business had revenue of $805.50 million during the quarter, compared to analysts’ expectations of $804.21 million. Neurocrine Biosciences had a return on equity of 16.48% and a net margin of 16.73%.The company’s revenue was up 28.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.69 EPS. On average, equities research analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Piper Sandler upped their target price on shares of Neurocrine Biosciences from $175.00 to $179.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. Wedbush upped their price objective on Neurocrine Biosciences from $149.00 to $151.00 and gave the company an “outperform” rating in a research note on Thursday, February 12th. BMO Capital Markets lowered their target price on Neurocrine Biosciences from $147.00 to $140.00 and set a “market perform” rating on the stock in a research note on Thursday, February 12th. Needham & Company LLC cut their price target on Neurocrine Biosciences from $187.00 to $185.00 and set a “buy” rating for the company in a research note on Thursday, February 12th. Finally, UBS Group decreased their price target on Neurocrine Biosciences from $188.00 to $178.00 and set a “buy” rating for the company in a report on Friday, January 23rd. Sixteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Neurocrine Biosciences presently has a consensus rating of “Moderate Buy” and a consensus target price of $175.84.

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.