Rhenman & Partners Asset Management AB Purchases 28,567 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Rhenman & Partners Asset Management AB lifted its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 39.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 100,317 shares of the company's stock after purchasing an additional 28,567 shares during the period. Neurocrine Biosciences accounts for 1.4% of Rhenman & Partners Asset Management AB's portfolio, making the stock its 29th largest position. Rhenman & Partners Asset Management AB owned 0.10% of Neurocrine Biosciences worth $13,693,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of NBIX. Golden State Wealth Management LLC bought a new position in shares of Neurocrine Biosciences during the 4th quarter worth $25,000. Huntington National Bank lifted its position in Neurocrine Biosciences by 73.5% in the fourth quarter. Huntington National Bank now owns 229 shares of the company's stock valued at $31,000 after purchasing an additional 97 shares during the last quarter. Brooklyn Investment Group increased its holdings in Neurocrine Biosciences by 99.1% during the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company's stock valued at $32,000 after purchasing an additional 115 shares during the period. Lindbrook Capital LLC boosted its stake in shares of Neurocrine Biosciences by 53.5% during the 4th quarter. Lindbrook Capital LLC now owns 373 shares of the company's stock valued at $51,000 after purchasing an additional 130 shares in the last quarter. Finally, R Squared Ltd bought a new stake in shares of Neurocrine Biosciences during the fourth quarter valued at approximately $61,000. Institutional investors own 92.59% of the company's stock.

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Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Bank of America dropped their price target on shares of Neurocrine Biosciences from $184.00 to $179.00 and set a "buy" rating on the stock in a report on Friday, February 7th. HC Wainwright reiterated a "buy" rating and issued a $185.00 price target on shares of Neurocrine Biosciences in a research report on Friday, February 21st. William Blair reiterated an "outperform" rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. Royal Bank of Canada lowered their price target on shares of Neurocrine Biosciences from $154.00 to $148.00 and set a "sector perform" rating for the company in a research report on Friday, February 7th. Finally, Barclays raised their price objective on Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an "overweight" rating in a research report on Monday, December 23rd. Five equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $163.52.

Insider Activity

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 2,707 shares of the business's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $152.92, for a total transaction of $413,954.44. Following the completion of the sale, the director now directly owns 517,030 shares in the company, valued at $79,064,227.60. The trade was a 0.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Kyle Gano sold 65,000 shares of the business's stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $141.50, for a total value of $9,197,500.00. Following the completion of the sale, the chief executive officer now owns 135,392 shares in the company, valued at $19,157,968. This represents a 32.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 232,906 shares of company stock worth $33,869,030 over the last 90 days. 4.30% of the stock is currently owned by corporate insiders.

Neurocrine Biosciences Stock Down 5.9 %

Neurocrine Biosciences stock traded down $5.63 on Thursday, hitting $89.65. The company's stock had a trading volume of 774,297 shares, compared to its average volume of 1,020,465. The company has a fifty day moving average price of $114.09 and a 200-day moving average price of $123.36. Neurocrine Biosciences, Inc. has a one year low of $84.23 and a one year high of $157.98. The firm has a market cap of $8.94 billion, a P/E ratio of 27.13, a price-to-earnings-growth ratio of 0.77 and a beta of 0.33.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.62 by ($0.62). Neurocrine Biosciences had a return on equity of 13.38% and a net margin of 14.49%. Analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Neurocrine Biosciences announced that its Board of Directors has approved a share repurchase plan on Friday, February 21st that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to repurchase up to 4.2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board believes its shares are undervalued.

Neurocrine Biosciences Company Profile

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.