Handelsbanken Fonder AB Has $34.70 Million Stock Position in Neurocrine Biosciences, Inc. $NBIX

Handelsbanken Fonder AB raised its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 9.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 205,871 shares of the company’s stock after acquiring an additional 18,004 shares during the quarter. Handelsbanken Fonder AB’s holdings in Neurocrine Biosciences were worth $34,696,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. AQR Capital Management LLC boosted its holdings in shares of Neurocrine Biosciences by 18.0% during the fourth quarter. AQR Capital Management LLC now owns 3,271,706 shares of the company’s stock worth $462,652,000 after acquiring an additional 498,058 shares during the period. Renaissance Technologies LLC increased its stake in shares of Neurocrine Biosciences by 8.0% during the first quarter. Renaissance Technologies LLC now owns 2,418,897 shares of the company’s stock worth $318,665,000 after purchasing an additional 180,100 shares during the period. Geode Capital Management LLC increased its stake in shares of Neurocrine Biosciences by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 2,059,282 shares of the company’s stock worth $291,342,000 after purchasing an additional 34,457 shares during the period. Los Angeles Capital Management LLC increased its stake in shares of Neurocrine Biosciences by 7.4% during the fourth quarter. Los Angeles Capital Management LLC now owns 1,291,278 shares of the company’s stock worth $178,248,000 after purchasing an additional 88,522 shares during the period. Finally, Northern Trust Corp lifted its holdings in Neurocrine Biosciences by 31.9% during the 4th quarter. Northern Trust Corp now owns 1,221,184 shares of the company’s stock worth $173,201,000 after purchasing an additional 295,470 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Neurocrine Biosciences Trading Down 1.8%

NASDAQ NBIX opened at $161.94 on Wednesday. Neurocrine Biosciences, Inc. has a 1-year low of $122.14 and a 1-year high of $186.12. The company has a 50 day moving average of $168.71 and a 200-day moving average of $147.96. The company has a market cap of $16.46 billion, a price-to-earnings ratio of 23.74, a PEG ratio of 0.58 and a beta of 0.39.

Insider Activity

In other news, Director Richard F. Pops sold 15,000 shares of the company’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $157.65, for a total transaction of $2,364,750.00. Following the completion of the sale, the director directly owned 34,480 shares in the company, valued at approximately $5,435,772. This represents a 30.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephen A. Sherwin sold 25,000 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $165.32, for a total value of $4,133,000.00. Following the sale, the director directly owned 15,860 shares in the company, valued at approximately $2,621,975.20. This trade represents a 61.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 391,612 shares of company stock worth $61,858,105. 4.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

NBIX has been the subject of several recent research reports. Zacks Research downgraded Neurocrine Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Wall Street Zen cut Neurocrine Biosciences from a “buy” rating to a “hold” rating in a research report on Sunday. Leerink Partners lifted their target price on Neurocrine Biosciences from $160.00 to $170.00 and gave the stock an “outperform” rating in a report on Wednesday, April 22nd. Piper Sandler boosted their target price on shares of Neurocrine Biosciences from $207.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Finally, Weiss Ratings upgraded shares of Neurocrine Biosciences from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $201.50.

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.