Fjarde AP Fonden Fourth Swedish National Pension Fund Has $8.46 Million Position in Neurocrine Biosciences, Inc. $NBIX

Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 82.3% in the first quarter, Holdings Channel reports. The firm owned 64,223 shares of the company’s stock after acquiring an additional 29,000 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Neurocrine Biosciences were worth $8,461,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in NBIX. AQR Capital Management LLC grew its holdings in Neurocrine Biosciences by 83.7% during the third quarter. AQR Capital Management LLC now owns 2,773,648 shares of the company’s stock valued at $388,435,000 after purchasing an additional 1,263,633 shares during the last quarter. Norges Bank acquired a new stake in shares of Neurocrine Biosciences in the fourth quarter worth $162,664,000. UBS Group AG lifted its stake in shares of Neurocrine Biosciences by 169.8% in the fourth quarter. UBS Group AG now owns 983,528 shares of the company’s stock worth $139,494,000 after buying an additional 618,956 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new stake in shares of Neurocrine Biosciences during the 4th quarter worth $65,162,000. Finally, Two Sigma Investments LP bought a new stake in shares of Neurocrine Biosciences during the 3rd quarter worth $48,791,000. Institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Stock Performance

Shares of Neurocrine Biosciences stock opened at $174.26 on Friday. Neurocrine Biosciences, Inc. has a 1 year low of $122.14 and a 1 year high of $174.38. The company’s fifty day simple moving average is $155.99 and its 200-day simple moving average is $141.81. The company has a market cap of $17.52 billion, a price-to-earnings ratio of 26.85, a PEG ratio of 0.69 and a beta of 0.39.

Analysts Set New Price Targets

NBIX has been the topic of several recent analyst reports. Truist Financial lifted their target price on shares of Neurocrine Biosciences from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Sanford C. Bernstein initiated coverage on shares of Neurocrine Biosciences in a report on Friday, May 22nd. They set an “outperform” rating and a $221.00 price target for the company. Weiss Ratings raised Neurocrine Biosciences from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, June 24th. The Goldman Sachs Group initiated coverage on Neurocrine Biosciences in a research report on Tuesday, June 2nd. They issued a “buy” rating and a $213.00 price target on the stock. Finally, Wall Street Zen upgraded Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 25th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $187.52.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Julie Cooke sold 36,937 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $156.22, for a total value of $5,770,298.14. Following the sale, the insider directly owned 22,374 shares in the company, valued at $3,495,266.28. This trade represents a 62.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephen A. Sherwin sold 25,000 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $165.32, for a total transaction of $4,133,000.00. Following the transaction, the director owned 15,860 shares in the company, valued at approximately $2,621,975.20. The trade was a 61.18% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 365,234 shares of company stock worth $57,031,540. 4.60% of the stock is currently owned by insiders.

Neurocrine Biosciences 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.