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

Handelsbanken Fonder AB lifted its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 9.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 205,871 shares of the company’s stock after purchasing an additional 18,004 shares during the quarter. Handelsbanken Fonder AB owned 0.20% of Neurocrine Biosciences worth $34,696,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. AQR Capital Management LLC increased its stake in Neurocrine Biosciences by 18.0% in the 4th quarter. AQR Capital Management LLC now owns 3,271,706 shares of the company’s stock valued at $462,652,000 after buying an additional 498,058 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Neurocrine Biosciences by 8.0% during the 1st quarter. Renaissance Technologies LLC now owns 2,418,897 shares of the company’s stock worth $318,665,000 after buying an additional 180,100 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Neurocrine Biosciences by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 2,059,282 shares of the company’s stock worth $291,342,000 after buying an additional 34,457 shares during the last quarter. Los Angeles Capital Management LLC grew its holdings in shares of Neurocrine Biosciences by 7.4% in the 4th quarter. Los Angeles Capital Management LLC now owns 1,291,278 shares of the company’s stock valued at $178,248,000 after acquiring an additional 88,522 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Neurocrine Biosciences by 31.9% in the 4th quarter. Northern Trust Corp now owns 1,221,184 shares of the company’s stock valued at $173,201,000 after acquiring an additional 295,470 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Neurocrine Biosciences Stock Performance

Shares of NBIX stock opened at $161.94 on Wednesday. The firm’s 50-day moving average is $168.71 and its 200-day moving average is $147.96. The stock 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. Neurocrine Biosciences, Inc. has a 52-week low of $122.14 and a 52-week high of $186.12.

Insider Activity

In other Neurocrine Biosciences news, Director Stephen A. Sherwin sold 25,000 shares of the company’s stock in a transaction that occurred 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 owned 15,860 shares in the company, valued at $2,621,975.20. This represents a 61.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Richard F. Pops sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $157.65, for a total value of $2,364,750.00. Following the completion of the sale, the director directly owned 34,480 shares of the company’s stock, valued at approximately $5,435,772. The trade was a 30.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 391,612 shares of company stock valued at $61,858,105. 4.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NBIX. Truist Financial upped their target price on Neurocrine Biosciences from $200.00 to $213.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Wedbush raised their price target on Neurocrine Biosciences from $185.00 to $194.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. TD Cowen boosted their price target on Neurocrine Biosciences from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Zacks Research lowered Neurocrine Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Finally, Needham & Company LLC upped their price objective on Neurocrine Biosciences from $200.00 to $204.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Neurocrine Biosciences currently has a consensus rating of “Moderate Buy” and an average target price of $201.50.

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.