Vanguard Group Inc. Trims Stake in Neurocrine Biosciences, Inc. $NBIX

Vanguard Group Inc. lowered its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 0.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,700,301 shares of the company’s stock after selling 6,258 shares during the period. Vanguard Group Inc. owned approximately 9.73% of Neurocrine Biosciences worth $1,375,794,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. USA Financial Formulas bought a new stake in shares of Neurocrine Biosciences during the 4th quarter worth approximately $25,000. Geneos Wealth Management Inc. grew its position in Neurocrine Biosciences by 143.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after acquiring an additional 135 shares during the last quarter. Golden State Wealth Management LLC increased its stake in Neurocrine Biosciences by 120.5% in the third quarter. Golden State Wealth Management LLC now owns 183 shares of the company’s stock worth $26,000 after purchasing an additional 100 shares during the period. Eastern Bank purchased a new stake in Neurocrine Biosciences in the third quarter worth $27,000. Finally, Quent Capital LLC bought a new stake in shares of Neurocrine Biosciences during the third quarter worth $32,000. Institutional investors own 92.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on NBIX. Truist Financial cut their price target on shares of Neurocrine Biosciences from $169.00 to $140.00 and set a “buy” rating on the stock in a report on Tuesday, February 17th. Wells Fargo & Company dropped their target price on shares of Neurocrine Biosciences from $180.00 to $175.00 and set an “overweight” rating on the stock in a research note on Friday, February 13th. Wedbush lifted their price target on shares of Neurocrine Biosciences from $151.00 to $166.00 and gave the company an “outperform” rating in a research note on Tuesday, April 7th. Wolfe Research began coverage on Neurocrine Biosciences in a report on Tuesday, February 24th. They issued an “outperform” rating and a $160.00 price target for the company. Finally, Wall Street Zen raised Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 25th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $180.45.

Neurocrine Biosciences Stock Up 0.3%

NBIX opened at $131.67 on Friday. The company has a market cap of $13.24 billion, a P/E ratio of 28.26, a price-to-earnings-growth ratio of 0.68 and a beta of 0.35. The firm’s 50-day moving average price is $130.25 and its 200-day moving average price is $137.73. Neurocrine Biosciences, Inc. has a 52-week low of $105.45 and a 52-week high of $160.18.

Neurocrine Biosciences (NASDAQ:NBIX) last released 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 company had revenue of $805.50 million during the quarter, compared to analyst estimates of $804.21 million. Neurocrine Biosciences had a return on equity of 16.48% and a net margin of 16.73%.The firm’s revenue for the quarter was up 28.3% on a year-over-year basis. During the same quarter last year, the business earned $1.69 earnings per share. On average, research analysts anticipate that Neurocrine Biosciences, Inc. will post 6.33 EPS for the current fiscal year.

Neurocrine Biosciences Company 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.