Skandinaviska Enskilda Banken AB publ Reduces Holdings in Neurocrine Biosciences, Inc. $NBIX

Skandinaviska Enskilda Banken AB publ lowered its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 15.6% in the third quarter, HoldingsChannel.com reports. The fund owned 61,118 shares of the company’s stock after selling 11,272 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Neurocrine Biosciences were worth $8,576,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of NBIX. Dodge & Cox raised its position in shares of Neurocrine Biosciences by 0.6% during the 2nd quarter. Dodge & Cox now owns 5,566,814 shares of the company’s stock worth $699,693,000 after purchasing an additional 32,190 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Neurocrine Biosciences by 11.0% in the third quarter. JPMorgan Chase & Co. now owns 4,730,152 shares of the company’s stock valued at $664,019,000 after acquiring an additional 468,405 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Neurocrine Biosciences by 40.5% during the second quarter. AQR Capital Management LLC now owns 1,510,015 shares of the company’s stock valued at $189,794,000 after acquiring an additional 435,385 shares during the last quarter. Norges Bank acquired a new stake in shares of Neurocrine Biosciences during the second quarter valued at $122,278,000. Finally, Charles Schwab Investment Management Inc. increased its position in Neurocrine Biosciences by 1.8% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 789,715 shares of the company’s stock worth $99,259,000 after purchasing an additional 13,942 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director George J. Morrow sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $143.37, for a total transaction of $2,150,550.00. Following the sale, the director directly owned 7,068 shares in the company, valued at approximately $1,013,339.16. This trade represents a 67.97% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Leslie V. Norwalk sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $152.23, for a total value of $761,150.00. Following the completion of the transaction, the director owned 7,429 shares of the company’s stock, valued at approximately $1,130,916.67. This represents a 40.23% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 61,966 shares of company stock valued at $8,625,166. 4.80% of the stock is owned by company insiders.

Neurocrine Biosciences Stock Up 0.5%

Shares of NBIX stock opened at $128.38 on Thursday. Neurocrine Biosciences, Inc. has a fifty-two week low of $84.23 and a fifty-two week high of $160.18. The firm’s 50 day moving average price is $138.43 and its two-hundred day moving average price is $140.34. The stock has a market cap of $12.88 billion, a price-to-earnings ratio of 27.55, a price-to-earnings-growth ratio of 0.65 and a beta of 0.31.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its earnings results on Wednesday, February 11th. The company reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.48). The business had revenue of $805.50 million during the quarter, compared to analysts’ expectations of $804.21 million. Neurocrine Biosciences had a net margin of 16.73% and a return on equity of 16.48%. The business’s revenue was up 28.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.69 EPS. On average, equities analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Analyst Ratings Changes

NBIX has been the topic of a number of recent research reports. HC Wainwright reduced their target price on shares of Neurocrine Biosciences from $198.00 to $192.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. Mizuho increased their target price on Neurocrine Biosciences from $146.00 to $175.00 and gave the stock a “neutral” rating in a research report on Friday, December 12th. Zacks Research downgraded shares of Neurocrine Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Stifel Nicolaus raised their target price on shares of Neurocrine Biosciences from $183.00 to $188.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Finally, Wall Street Zen lowered shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research report on Monday. Sixteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $175.84.

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.