Swedbank AB increased its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX – Free Report) by 6.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 584,129 shares of the company’s stock after acquiring an additional 36,800 shares during the quarter. Swedbank AB’s holdings in Neurocrine Biosciences were worth $82,847,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. JPMorgan Chase & Co. increased its position in Neurocrine Biosciences by 11.0% during the third quarter. JPMorgan Chase & Co. now owns 4,730,152 shares of the company’s stock worth $664,019,000 after acquiring an additional 468,405 shares during the period. AQR Capital Management LLC increased its position in Neurocrine Biosciences by 83.7% during the third quarter. AQR Capital Management LLC now owns 2,773,648 shares of the company’s stock worth $388,435,000 after acquiring an additional 1,263,633 shares during the period. Deerfield Management Company L.P. boosted its stake in Neurocrine Biosciences by 1.4% during the third quarter. Deerfield Management Company L.P. now owns 1,184,345 shares of the company’s stock worth $166,258,000 after buying an additional 16,543 shares in the last quarter. UBS Group AG boosted its stake in Neurocrine Biosciences by 169.8% during the fourth quarter. UBS Group AG now owns 983,528 shares of the company’s stock worth $139,494,000 after buying an additional 618,956 shares in the last quarter. Finally, Pictet Asset Management Holding SA boosted its stake in Neurocrine Biosciences by 12.0% during the fourth quarter. Pictet Asset Management Holding SA now owns 776,934 shares of the company’s stock worth $110,305,000 after buying an additional 83,488 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.
Insider Activity
In other news, Director Kevin Charles Gorman sold 245,088 shares of the business’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $154.33, for a total value of $37,824,431.04. Following the sale, the director owned 511,293 shares in the company, valued at approximately $78,907,848.69. The trade was a 32.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 business’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $157.65, for a total transaction of $2,364,750.00. Following the completion of the sale, the director owned 34,480 shares in the company, valued at $5,435,772. This represents a 30.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 263,898 shares of company stock worth $40,779,769. Corporate insiders own 4.60% of the company’s stock.
Neurocrine Biosciences Stock Performance
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and set a $185.00 price target on shares of Neurocrine Biosciences in a research note on Monday, April 6th. HC Wainwright lifted their price target on shares of Neurocrine Biosciences from $192.00 to $215.00 and gave the stock a “buy” rating in a research note on Tuesday, April 7th. JPMorgan Chase & Co. lifted their price target on shares of Neurocrine Biosciences from $177.00 to $185.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Guggenheim reiterated a “buy” rating and set a $175.00 price target on shares of Neurocrine Biosciences in a research note on Wednesday, May 6th. Finally, Morgan Stanley lifted their price target on shares of Neurocrine Biosciences from $185.00 to $191.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Neurocrine Biosciences has an average rating of “Moderate Buy” and an average price target of $185.90.
View Our Latest Report on NBIX
Neurocrine Biosciences Profile
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.
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