Avanza Fonder AB Invests $1.80 Million in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Avanza Fonder AB bought a new stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 13,218 shares of the company's stock, valued at approximately $1,804,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Envestnet Asset Management Inc. grew its holdings in Neurocrine Biosciences by 1.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 202,793 shares of the company's stock valued at $27,919,000 after buying an additional 3,396 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Neurocrine Biosciences by 2.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 155,985 shares of the company's stock valued at $21,474,000 after purchasing an additional 4,112 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Neurocrine Biosciences by 45.5% in the second quarter. Dimensional Fund Advisors LP now owns 472,929 shares of the company's stock worth $65,097,000 after purchasing an additional 147,907 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its stake in Neurocrine Biosciences by 5.6% during the second quarter. Mercer Global Advisors Inc. ADV now owns 8,123 shares of the company's stock valued at $1,118,000 after purchasing an additional 430 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its position in Neurocrine Biosciences by 3.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 9,064 shares of the company's stock valued at $1,235,000 after purchasing an additional 326 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Jude Onyia sold 2,331 shares of Neurocrine Biosciences stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $126.29, for a total value of $294,381.99. Following the completion of the sale, the insider now directly owns 15,449 shares in the company, valued at $1,951,054.21. This trade represents a 13.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ingrid Delaet sold 272 shares of the company's stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $138.10, for a total transaction of $37,563.20. Following the transaction, the insider now owns 2,507 shares in the company, valued at $346,216.70. The trade was a 9.79 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 68,694 shares of company stock worth $9,676,730. Insiders own 4.30% of the company's stock.

Neurocrine Biosciences Stock Performance

NBIX traded up $1.34 on Friday, hitting $143.26. The company had a trading volume of 976,444 shares, compared to its average volume of 928,466. The stock has a market capitalization of $14.50 billion, a price-to-earnings ratio of 38.41 and a beta of 0.33. The stock has a fifty day moving average price of $131.84 and a 200-day moving average price of $131.11. Neurocrine Biosciences, Inc. has a 12-month low of $110.95 and a 12-month high of $157.98.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Barclays boosted their target price on shares of Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an "overweight" rating in a report on Monday, December 23rd. Piper Sandler restated an "overweight" rating and set a $160.00 price objective on shares of Neurocrine Biosciences in a research report on Monday, December 23rd. William Blair reissued an "outperform" rating on shares of Neurocrine Biosciences in a research report on Monday, December 16th. StockNews.com downgraded Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a research report on Friday, November 1st. Finally, Royal Bank of Canada reduced their target price on shares of Neurocrine Biosciences from $136.00 to $133.00 and set a "sector perform" rating on the stock in a research note on Friday, October 4th. Five research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Neurocrine Biosciences has an average rating of "Moderate Buy" and an average price target of $164.81.

About Neurocrine Biosciences

Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, neuroendocrine, and neuropsychiatric disorders in the United States and internationally. The company's products include INGREZZA for tardive dyskinesia and chorea associated with Huntington's disease; ALKINDI for adrenal insufficiency; Efmody capsules for classic congenital adrenal hyperplasia; Orilissa tablets for endometriosis; and Oriahnn capsules to treat uterine fibroids.