Nordea Investment Management AB Cuts Stock Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Nordea Investment Management AB trimmed its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX – Get Rating) by 6.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 520,510 shares of the company’s stock after selling 38,694 shares during the quarter. Nordea Investment Management AB owned 0.55% of Neurocrine Biosciences worth $48,584,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of NBIX. Whittier Trust Co. boosted its holdings in shares of Neurocrine Biosciences by 102.8% in the 4th quarter. Whittier Trust Co. now owns 290 shares of the company’s stock worth $25,000 after buying an additional 147 shares during the last quarter. Moors & Cabot Inc. purchased a new position in shares of Neurocrine Biosciences in the 3rd quarter worth about $30,000. Orion Capital Management LLC purchased a new position in shares of Neurocrine Biosciences in the 4th quarter worth about $34,000. Standard Family Office LLC purchased a new position in shares of Neurocrine Biosciences in the 4th quarter worth about $45,000. Finally, National Bank of Canada FI purchased a new position in shares of Neurocrine Biosciences in the 4th quarter worth about $105,000. 93.21% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director Gary A. Lyons sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, April 25th. The shares were sold at an average price of $92.76, for a total value of $1,391,400.00. Following the transaction, the director now directly owns 208,697 shares in the company, valued at $19,358,733.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William H. Rastetter sold 10,728 shares of the company’s stock in a transaction that occurred on Friday, April 1st. The stock was sold at an average price of $94.93, for a total transaction of $1,018,409.04. Following the completion of the transaction, the director now owns 34,022 shares in the company, valued at $3,229,708.46. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,728 shares of company stock worth $3,554,309. 4.40% of the stock is owned by company insiders.

NBIX stock opened at $94.21 on Thursday. The company has a current ratio of 4.02, a quick ratio of 3.90 and a debt-to-equity ratio of 0.27. The company’s 50 day moving average is $90.83 and its 200 day moving average is $87.51. The stock has a market cap of $9.00 billion, a price-to-earnings ratio of 131.63 and a beta of 0.70. Neurocrine Biosciences, Inc. has a 1-year low of $71.88 and a 1-year high of $108.01.

Neurocrine Biosciences (NASDAQ:NBIX – Get Rating) last posted its quarterly earnings data on Wednesday, May 4th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.19). The company had revenue of $310.60 million during the quarter, compared to the consensus estimate of $304.07 million. Neurocrine Biosciences had a return on equity of 5.30% and a net margin of 5.91%. The firm’s revenue for the quarter was up 31.3% on a year-over-year basis. During the same quarter last year, the company posted $0.33 earnings per share. As a group, sell-side analysts forecast that Neurocrine Biosciences, Inc. will post 1.91 EPS for the current fiscal year.

A number of equities analysts recently weighed in on NBIX shares. Piper Sandler downgraded shares of Neurocrine Biosciences from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $114.00 to $94.00 in a report on Thursday, March 3rd. Wedbush reaffirmed an “outperform” rating on shares of Neurocrine Biosciences in a report on Thursday, April 28th. The Goldman Sachs Group raised shares of Neurocrine Biosciences from a “neutral” rating to a “buy” rating and set a $115.00 price objective on the stock in a report on Thursday, February 24th. StockNews.com raised shares of Neurocrine Biosciences from a “hold” rating to a “buy” rating in a report on Monday, March 28th. Finally, Jefferies Financial Group downgraded shares of Neurocrine Biosciences to a “hold” rating and set a $94.00 price objective on the stock. in a report on Thursday, March 3rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $111.93.

Neurocrine Biosciences Profile (Get Rating)

Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, endocrine, and psychiatric disorders. The company's portfolio includes treatments for tardive dyskinesia, Parkinson's disease, endometriosis, and uterine fibroids, as well as clinical programs in various therapeutic areas.

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