Handelsbanken Fonder AB Buys 91,400 Shares of Neurocrine Biosciences, Inc. $NBIX

Handelsbanken Fonder AB lifted its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 83.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 200,867 shares of the company’s stock after purchasing an additional 91,400 shares during the quarter. Handelsbanken Fonder AB’s holdings in Neurocrine Biosciences were worth $28,489,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NBIX. Nilsine Partners LLC purchased a new position in Neurocrine Biosciences during the fourth quarter worth about $1,197,000. Ruffer LLP purchased a new position in Neurocrine Biosciences during the fourth quarter worth about $2,479,000. Korea Investment CORP grew its position in Neurocrine Biosciences by 94.3% during the third quarter. Korea Investment CORP now owns 71,689 shares of the company’s stock worth $10,064,000 after buying an additional 34,800 shares in the last quarter. CIBC Private Wealth Group LLC grew its position in Neurocrine Biosciences by 17,250.0% during the third quarter. CIBC Private Wealth Group LLC now owns 7,981 shares of the company’s stock worth $1,120,000 after buying an additional 7,935 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its position in Neurocrine Biosciences by 2.4% during the third quarter. Envestnet Asset Management Inc. now owns 202,846 shares of the company’s stock worth $28,476,000 after buying an additional 4,807 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on NBIX shares. Wolfe Research started coverage on Neurocrine Biosciences in a research report on Tuesday, February 24th. They set an “outperform” rating and a $160.00 target price for the company. Zacks Research upgraded Neurocrine Biosciences from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 15th. Wall Street Zen upgraded Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 25th. Needham & Company LLC restated a “buy” rating and set a $185.00 target price on shares of Neurocrine Biosciences in a research report on Monday, April 6th. Finally, Truist Financial boosted their target price on Neurocrine Biosciences from $140.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Neurocrine Biosciences currently has an average rating of “Moderate Buy” and an average price target of $184.15.

Insider Activity

In related news, Director Leslie V. Norwalk sold 3,810 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $155.01, for a total transaction of $590,588.10. Following the completion of the sale, the director directly owned 2,429 shares in the company, valued at $376,519.29. This represents a 61.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through 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 stock in a transaction dated 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 sale, the director owned 34,480 shares of the company’s stock, valued at $5,435,772. This represents a 30.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 4.60% of the company’s stock.

Neurocrine Biosciences Trading Down 1.8%

NBIX opened at $154.36 on Wednesday. The stock has a market capitalization of $15.52 billion, a P/E ratio of 23.78, a PEG ratio of 1.18 and a beta of 0.34. Neurocrine Biosciences, Inc. has a 12-month low of $117.59 and a 12-month high of $162.39. The stock has a 50-day moving average price of $135.12 and a 200-day moving average price of $138.57.

About Neurocrine Biosciences

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.