Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Holdings Decreased by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ cut its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 40.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 180,406 shares of the company's stock after selling 123,436 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned approximately 0.18% of Neurocrine Biosciences worth $24,728,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in shares of Neurocrine Biosciences in the 4th quarter worth approximately $115,193,000. State Street Corp grew its position in shares of Neurocrine Biosciences by 11.7% in the 3rd quarter. State Street Corp now owns 5,148,293 shares of the company's stock worth $593,186,000 after acquiring an additional 539,936 shares in the last quarter. Jennison Associates LLC grew its position in shares of Neurocrine Biosciences by 145.1% in the 4th quarter. Jennison Associates LLC now owns 820,694 shares of the company's stock worth $112,025,000 after acquiring an additional 485,894 shares in the last quarter. Impax Asset Management Group plc grew its position in shares of Neurocrine Biosciences by 207.8% in the 4th quarter. Impax Asset Management Group plc now owns 261,599 shares of the company's stock worth $35,708,000 after acquiring an additional 176,599 shares in the last quarter. Finally, Braidwell LP grew its position in shares of Neurocrine Biosciences by 20.9% in the 3rd quarter. Braidwell LP now owns 917,674 shares of the company's stock worth $105,734,000 after acquiring an additional 158,665 shares in the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Transactions at Neurocrine Biosciences

In other news, CFO Matt Abernethy sold 1,283 shares of the business's stock in a transaction on Friday, January 31st. The stock was sold at an average price of $152.87, for a total transaction of $196,132.21. Following the sale, the chief financial officer now directly owns 32,681 shares of the company's stock, valued at $4,995,944.47. The trade was a 3.78 % decrease in their ownership of the stock. The sale 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 business's stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $138.10, for a total value of $37,563.20. Following the sale, the insider now directly owns 2,507 shares in the company, valued at $346,216.70. This trade represents a 9.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 233,178 shares of company stock valued at $33,906,594 over the last three months. Company insiders own 4.30% of the company's stock.

Neurocrine Biosciences Price Performance

Shares of NBIX traded down $1.80 during midday trading on Tuesday, reaching $109.70. The stock had a trading volume of 1,072,645 shares, compared to its average volume of 956,542. Neurocrine Biosciences, Inc. has a 52 week low of $105.18 and a 52 week high of $157.98. The firm's 50 day moving average price is $129.18 and its 200-day moving average price is $125.59. The company has a market capitalization of $10.94 billion, a P/E ratio of 33.34, a P/E/G ratio of 0.77 and a beta of 0.35.

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

Neurocrine Biosciences declared that its Board of Directors has authorized a share repurchase plan on Friday, February 21st that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to buy up to 4.2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Morgan Stanley reiterated an "overweight" rating and issued a $150.00 target price (down previously from $185.00) on shares of Neurocrine Biosciences in a research report on Friday, March 7th. Guggenheim reduced their price objective on Neurocrine Biosciences from $165.00 to $163.00 and set a "buy" rating for the company in a research report on Monday, February 10th. Royal Bank of Canada reduced their price objective on 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. Wedbush reduced their price objective on Neurocrine Biosciences from $157.00 to $147.00 and set an "outperform" rating for the company in a research report on Friday, February 7th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Neurocrine Biosciences in a research report on Tuesday, February 11th. They set a "hold" rating and a $138.00 price objective for the company. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $165.24.

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.