Fjarde AP Fonden Fourth Swedish National Pension Fund Raises Holdings in Neurocrine Biosciences, Inc. $NBIX

Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 82.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 64,223 shares of the company’s stock after acquiring an additional 29,000 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund owned 0.06% of Neurocrine Biosciences worth $8,461,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. USA Financial Formulas acquired a new stake in Neurocrine Biosciences during the fourth quarter worth about $25,000. Geneos Wealth Management Inc. raised its holdings in shares of Neurocrine Biosciences by 143.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after purchasing an additional 135 shares during the period. DJE Kapital AG acquired a new position in shares of Neurocrine Biosciences in the 4th quarter valued at about $28,000. Meeder Asset Management Inc. lifted its stake in shares of Neurocrine Biosciences by 651.6% in the 4th quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock valued at $33,000 after purchasing an additional 202 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Neurocrine Biosciences during the 4th quarter worth about $39,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NBIX. Truist Financial increased their target price on shares of Neurocrine Biosciences from $140.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Citigroup lifted their price target on shares of Neurocrine Biosciences from $242.00 to $246.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Needham & Company LLC restated a “buy” rating and issued a $185.00 target price on shares of Neurocrine Biosciences in a research report on Monday, April 6th. Zacks Research upgraded shares of Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 23rd. Finally, Morgan Stanley lifted their price objective on Neurocrine Biosciences from $185.00 to $191.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $187.52.

Insider Buying and Selling at Neurocrine Biosciences

In related news, Director Stephen A. Sherwin sold 25,000 shares of Neurocrine Biosciences stock in a transaction on Friday, June 5th. The shares were sold at an average price of $165.32, for a total value of $4,133,000.00. Following the completion of the sale, the director owned 15,860 shares of the company’s stock, valued at approximately $2,621,975.20. The trade was a 61.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jude Onyia sold 11,000 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $160.25, for a total transaction of $1,762,750.00. Following the completion of the sale, the insider owned 25,846 shares of the company’s stock, valued at $4,141,821.50. This represents a 29.85% 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. Insiders have sold 365,234 shares of company stock worth $57,031,540 in the last ninety days. Company insiders own 4.60% of the company’s stock.

Neurocrine Biosciences Price Performance

NASDAQ NBIX opened at $174.26 on Friday. The stock has a market capitalization of $17.52 billion, a PE ratio of 26.85, a price-to-earnings-growth ratio of 0.69 and a beta of 0.39. Neurocrine Biosciences, Inc. has a 12-month low of $122.14 and a 12-month high of $174.38. The company has a 50 day moving average price of $155.99 and a two-hundred day moving average price of $141.81.

Neurocrine Biosciences 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.