Handelsbanken Fonder AB Sells 2,100 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Posted by on May 5th, 2023

Handelsbanken Fonder AB lowered its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX – Get Rating) by 13.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 13,167 shares of the company’s stock after selling 2,100 shares during the period. Handelsbanken Fonder AB’s holdings in Neurocrine Biosciences were worth $1,573,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of NBIX. Acadian Asset Management LLC bought a new position in shares of Neurocrine Biosciences in the first quarter worth about $27,000. Piershale Financial Group Inc. bought a new position in Neurocrine Biosciences in the 4th quarter worth approximately $36,000. Covestor Ltd grew its holdings in Neurocrine Biosciences by 431.0% during the 1st quarter. Covestor Ltd now owns 377 shares of the company’s stock valued at $35,000 after buying an additional 306 shares in the last quarter. C M Bidwell & Associates Ltd. bought a new stake in shares of Neurocrine Biosciences during the third quarter valued at approximately $45,000. Finally, CENTRAL TRUST Co purchased a new position in shares of Neurocrine Biosciences in the third quarter worth $45,000. Hedge funds and other institutional investors own 92.58% of the company’s stock.

Neurocrine Biosciences Price Performance

Shares of NBIX stock opened at $95.84 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.64 and a current ratio of 3.83. The stock has a 50 day moving average price of $100.18 and a 200 day moving average price of $109.58. Neurocrine Biosciences, Inc. has a 52-week low of $75.25 and a 52-week high of $129.29. The firm has a market capitalization of $9.26 billion, a P/E ratio of 62.64, a P/E/G ratio of 0.83 and a beta of 0.49.

Neurocrine Biosciences (NASDAQ:NBIX – Get Rating) last posted its quarterly earnings results on Monday, February 6th. The company reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.09. Neurocrine Biosciences had a net margin of 4.00% and a return on equity of 4.03%. The firm had revenue of $412.00 million for the quarter, compared to analysts’ expectations of $408.96 million. During the same period in the prior year, the business posted ($0.08) earnings per share. The business’s revenue for the quarter was up 32.1% on a year-over-year basis. As a group, sell-side analysts predict that Neurocrine Biosciences, Inc. will post 2.63 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Neurocrine Biosciences Inc purchased 4,395,588 shares of the firm’s stock in a transaction dated Thursday, February 23rd. The stock was purchased at an average price of $8.88 per share, with a total value of $39,032,821.44. Following the completion of the purchase, the insider now owns 8,575,316 shares of the company’s stock, valued at approximately $76,148,806.08. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In other Neurocrine Biosciences news, CEO Kevin Charles Gorman sold 3,040 shares of the stock in a transaction dated Monday, February 6th. The shares were sold at an average price of $105.68, for a total transaction of $321,267.20. Following the transaction, the chief executive officer now directly owns 468,008 shares in the company, valued at approximately $49,459,085.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Neurocrine Biosciences Inc bought 4,395,588 shares of the business’s stock in a transaction on Thursday, February 23rd. The shares were acquired at an average cost of $8.88 per share, for a total transaction of $39,032,821.44. Following the transaction, the insider now directly owns 8,575,316 shares in the company, valued at approximately $76,148,806.08. The disclosure for this purchase can be found here. Insiders have sold 70,936 shares of company stock worth $7,330,598 in the last three months. Corporate insiders own 4.40% of the company’s stock.

Analysts Set New Price Targets

NBIX has been the subject of several research analyst reports. Mizuho cut their target price on shares of Neurocrine Biosciences from $116.00 to $111.00 in a research note on Thursday. Barclays decreased their target price on Neurocrine Biosciences from $131.00 to $125.00 in a research report on Thursday. Piper Sandler cut their price target on Neurocrine Biosciences from $103.00 to $95.00 and set a “neutral” rating for the company in a report on Tuesday, February 7th. Cantor Fitzgerald reduced their price objective on Neurocrine Biosciences from $132.00 to $127.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 7th. Finally, Citigroup lowered their target price on Neurocrine Biosciences from $127.00 to $122.00 in a research report on Thursday. Five research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Neurocrine Biosciences has an average rating of “Moderate Buy” and a consensus price target of $125.21.

Neurocrine Biosciences Profile

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Neurocrine Biosciences, Inc is a neuroscience-focused, biopharmaceutical company. It discovers, develops, and intends to commercialize drugs for the treatment of neurological and endocrine related diseases and disorders. The company was founded by Kevin C. Gorman and Wylie W. Vale in January 1992 and is headquartered in San Diego, CA.

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Institutional Ownership by Quarter for Neurocrine Biosciences (NASDAQ:NBIX)

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