Fjarde AP Fonden Fourth Swedish National Pension Fund Purchases 2,300 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 4.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 55,623 shares of the company’s stock after acquiring an additional 2,300 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund owned 0.05% of Neurocrine Biosciences worth $7,593,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Creative Planning boosted its stake in Neurocrine Biosciences by 12.3% in the third quarter. Creative Planning now owns 12,999 shares of the company’s stock worth $1,498,000 after purchasing an additional 1,426 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Neurocrine Biosciences by 171.9% in the third quarter. Blue Trust Inc. now owns 348 shares of the company’s stock valued at $40,000 after buying an additional 220 shares during the last quarter. Raymond James & Associates lifted its position in Neurocrine Biosciences by 4.3% during the 3rd quarter. Raymond James & Associates now owns 62,446 shares of the company’s stock worth $7,195,000 after buying an additional 2,552 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Neurocrine Biosciences by 250.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,433 shares of the company’s stock worth $1,546,000 after buying an additional 9,601 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its holdings in Neurocrine Biosciences by 2.1% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 115,973 shares of the company’s stock worth $13,232,000 after acquiring an additional 2,387 shares during the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

Neurocrine Biosciences Trading Down 1.3 %

Shares of Neurocrine Biosciences stock opened at $119.11 on Tuesday. The stock’s fifty day simple moving average is $136.35 and its 200 day simple moving average is $129.11. The company has a market capitalization of $11.88 billion, a PE ratio of 36.20, a PEG ratio of 0.77 and a beta of 0.33. Neurocrine Biosciences, Inc. has a 12 month low of $110.95 and a 12 month high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Thursday, February 6th. The company reported $1.00 earnings per share for the quarter, missing the consensus estimate of $1.62 by ($0.62). Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.38%. Analysts predict that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences announced that its Board of Directors has initiated a stock repurchase plan on Friday, February 21st that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 4.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Insider Activity

In related news, Director Kevin Charles Gorman sold 5,844 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $116.69, for a total value of $681,936.36. Following the completion of the transaction, the director now directly owns 521,618 shares of the company’s stock, valued at approximately $60,867,604.42. This represents a 1.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ingrid Delaet sold 272 shares of the business’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $138.10, for a total value of $37,563.20. Following the completion of the sale, the insider now owns 2,507 shares in the company, valued at approximately $346,216.70. This trade represents a 9.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 236,600 shares of company stock worth $34,348,261 over the last quarter. 4.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NBIX. Piper Sandler reaffirmed an “overweight” rating and issued a $160.00 target price on shares of Neurocrine Biosciences in a research note on Monday, December 23rd. Canaccord Genuity Group dropped their price objective on shares of Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Royal Bank of Canada reduced their price objective on Neurocrine Biosciences from $154.00 to $148.00 and set a “sector perform” rating on the stock in a report on Friday, February 7th. UBS Group lifted their target price on Neurocrine Biosciences from $162.00 to $176.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Finally, Barclays upped their price target on Neurocrine Biosciences from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, December 23rd. Five investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $166.90.

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.