Norges Bank Buys Shares of 1,146,896 Neurocrine Biosciences, Inc. $NBIX

Norges Bank bought a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 1,146,896 shares of the company’s stock, valued at approximately $162,664,000.

Other large investors also recently bought and sold shares of the company. Royal Bank of Canada lifted its position in shares of Neurocrine Biosciences by 36.7% in the first quarter. Royal Bank of Canada now owns 82,810 shares of the company’s stock valued at $9,158,000 after acquiring an additional 22,224 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Neurocrine Biosciences by 60.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,783 shares of the company’s stock valued at $1,647,000 after acquiring an additional 5,577 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of Neurocrine Biosciences by 56.3% in the first quarter. NewEdge Advisors LLC now owns 7,630 shares of the company’s stock valued at $844,000 after acquiring an additional 2,747 shares in the last quarter. Empowered Funds LLC purchased a new stake in shares of Neurocrine Biosciences in the first quarter valued at $1,333,000. Finally, Geneos Wealth Management Inc. lifted its position in shares of Neurocrine Biosciences by 143.6% in the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after acquiring an additional 135 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Neurocrine Biosciences Price Performance

Neurocrine Biosciences stock opened at $165.11 on Thursday. The stock’s 50-day moving average is $141.29 and its 200-day moving average is $139.38. The company has a market cap of $16.60 billion, a price-to-earnings ratio of 25.44, a price-to-earnings-growth ratio of 1.16 and a beta of 0.40. Neurocrine Biosciences, Inc. has a 12 month low of $122.14 and a 12 month high of $165.81.

Insider Buying and Selling

In other news, Director Leslie V. Norwalk sold 3,810 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $155.01, for a total value of $590,588.10. Following the transaction, the director directly owned 2,429 shares in the company, valued at $376,519.29. This trade represents a 61.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David W. Boyer sold 3,888 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $156.64, for a total value of $609,016.32. Following the completion of the transaction, the insider owned 7,799 shares in the company, valued at approximately $1,221,635.36. This trade represents a 33.27% 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 quarter, insiders sold 292,047 shares of company stock worth $45,216,687. Corporate insiders own 4.60% of the company’s stock.

Wall Street Analyst Weigh In

NBIX has been the topic of several recent research reports. Needham & Company LLC restated a “buy” rating and issued a $185.00 price objective on shares of Neurocrine Biosciences in a research report on Monday, April 6th. Royal Bank Of Canada upped their price objective on Neurocrine Biosciences from $180.00 to $183.00 and gave the company an “outperform” rating in a research report on Friday, May 29th. Wall Street Zen upgraded Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 25th. Piper Sandler upped their price objective on Neurocrine Biosciences from $190.00 to $207.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Neurocrine Biosciences in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $187.52.

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.