Swiss National Bank Sells 14,100 Shares of Neurocrine Biosciences, Inc. $NBIX

Swiss National Bank reduced its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 4.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 285,300 shares of the company’s stock after selling 14,100 shares during the period. Swiss National Bank owned about 0.29% of Neurocrine Biosciences worth $40,050,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of NBIX. Arrowstreet Capital Limited Partnership raised its position in Neurocrine Biosciences by 87.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 125,162 shares of the company’s stock worth $15,732,000 after acquiring an additional 58,562 shares in the last quarter. Saturn V Capital Management LP bought a new position in shares of Neurocrine Biosciences in the 2nd quarter valued at about $7,313,000. Capital Fund Management S.A. increased its stake in shares of Neurocrine Biosciences by 15.9% during the 2nd quarter. Capital Fund Management S.A. now owns 203,628 shares of the company’s stock worth $25,594,000 after purchasing an additional 27,987 shares during the last quarter. Rhenman & Partners Asset Management AB increased its stake in shares of Neurocrine Biosciences by 66.1% during the 2nd quarter. Rhenman & Partners Asset Management AB now owns 149,217 shares of the company’s stock worth $18,755,000 after purchasing an additional 59,400 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its holdings in shares of Neurocrine Biosciences by 86.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 28,185 shares of the company’s stock valued at $3,957,000 after purchasing an additional 13,087 shares during the period. 92.59% of the stock is currently owned by institutional investors.

Neurocrine Biosciences Price Performance

Neurocrine Biosciences stock traded up $0.59 during trading hours on Friday, hitting $128.37. The company had a trading volume of 68,277 shares, compared to its average volume of 1,159,388. The firm has a 50-day moving average of $133.29 and a 200 day moving average of $140.27. The firm has a market cap of $12.88 billion, a PE ratio of 27.56, a PEG ratio of 0.68 and a beta of 0.32. Neurocrine Biosciences, Inc. has a one year low of $84.23 and a one year high of $160.18.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings data on Wednesday, February 11th. The company reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.48). Neurocrine Biosciences had a return on equity of 16.48% and a net margin of 16.73%.The firm had revenue of $805.50 million for the quarter, compared to the consensus estimate of $804.21 million. During the same quarter in the prior year, the firm earned $1.69 EPS. The company’s revenue was up 28.3% on a year-over-year basis. As a group, research analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Insider Buying and Selling at Neurocrine Biosciences

In related news, CEO Kyle Gano sold 36,400 shares of the business’s stock in a transaction 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 completion of the sale, the chief executive officer directly owned 140,407 shares in the company, valued at $18,632,008.90. The trade was a 20.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Leslie V. Norwalk sold 1,190 shares of the company’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $155.09, for a total value of $184,557.10. Following the completion of the transaction, the director directly owned 6,239 shares in the company, valued at approximately $967,606.51. This represents a 16.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 42,590 shares of company stock valued at $5,775,987 over the last 90 days. 4.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

NBIX has been the subject of several recent analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Neurocrine Biosciences in a research note on Thursday, January 22nd. Morgan Stanley restated an “equal weight” rating and issued a $175.00 price objective (up from $173.00) on shares of Neurocrine Biosciences in a research note on Thursday, January 8th. Truist Financial cut their price objective on Neurocrine Biosciences from $169.00 to $140.00 and set a “buy” rating for the company in a research report on Tuesday, February 17th. Mizuho lifted their target price on Neurocrine Biosciences from $146.00 to $175.00 and gave the stock a “neutral” rating in a research note on Friday, December 12th. Finally, Wolfe Research initiated coverage on Neurocrine Biosciences in a report on Tuesday, February 24th. They set an “outperform” rating and a $160.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $175.10.

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.