Vanguard Group Inc. Trims Stock Holdings in Neurocrine Biosciences, Inc. $NBIX

Vanguard Group Inc. lowered its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 0.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 9,700,301 shares of the company’s stock after selling 6,258 shares during the quarter. Vanguard Group Inc. owned about 0.10% of Neurocrine Biosciences worth $1,375,794,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings 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 purchasing an additional 468,405 shares during the period. AQR Capital Management LLC lifted its holdings in shares of 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 purchasing an additional 1,263,633 shares during the period. Deerfield Management Company L.P. boosted its position in Neurocrine Biosciences by 1.4% in the third quarter. Deerfield Management Company L.P. now owns 1,184,345 shares of the company’s stock valued at $166,258,000 after buying an additional 16,543 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Neurocrine Biosciences by 3.8% in the third quarter. Dimensional Fund Advisors LP now owns 710,122 shares of the company’s stock valued at $99,686,000 after buying an additional 25,683 shares during the last quarter. Finally, Armistice Capital LLC increased its holdings in Neurocrine Biosciences by 3.1% in the 3rd quarter. Armistice Capital LLC now owns 697,022 shares of the company’s stock worth $97,848,000 after buying an additional 20,998 shares during the period. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Analyst Ratings Changes

NBIX has been the subject of several research reports. Zacks Research upgraded shares of Neurocrine Biosciences from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 15th. Wells Fargo & Company lowered their price target on shares of Neurocrine Biosciences from $180.00 to $175.00 and set an “overweight” rating on the stock in a report on Friday, February 13th. Wolfe Research initiated coverage on Neurocrine Biosciences in a research note on Tuesday, February 24th. They set an “outperform” rating and a $160.00 price objective for the company. Wedbush upped their target price on Neurocrine Biosciences from $151.00 to $166.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 7th. Finally, Wall Street Zen raised Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 25th. One 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. According to MarketBeat.com, Neurocrine Biosciences currently has an average rating of “Moderate Buy” and a consensus target price of $180.45.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ NBIX opened at $131.67 on Friday. The company has a market capitalization of $13.24 billion, a PE ratio of 28.26, a price-to-earnings-growth ratio of 0.68 and a beta of 0.35. The company’s fifty day moving average price is $130.25 and its 200 day moving average price is $137.73. Neurocrine Biosciences, Inc. has a 1 year low of $105.45 and a 1 year high of $160.18.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Wednesday, February 11th. The company reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.48). The firm 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 firm’s quarterly revenue was up 28.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.69 EPS. On average, equities analysts expect that Neurocrine Biosciences, Inc. will post 6.33 EPS for the current 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.