Neurocrine Biosciences, Inc. $NBIX Stake Boosted by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al increased its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 50.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 147,623 shares of the company’s stock after purchasing an additional 49,200 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.15% of Neurocrine Biosciences worth $20,937,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its stake 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 purchasing an additional 468,405 shares during the last quarter. AQR Capital Management LLC lifted its stake 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 purchasing an additional 1,263,633 shares during the last quarter. Deerfield Management Company L.P. lifted 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 purchasing an additional 16,543 shares during the last quarter. UBS Group AG lifted 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 purchasing an additional 618,956 shares during the last quarter. Finally, Pictet Asset Management Holding SA lifted 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 purchasing an additional 83,488 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors.

Neurocrine Biosciences Stock Performance

NBIX stock opened at $161.32 on Thursday. The stock has a market capitalization of $16.22 billion, a price-to-earnings ratio of 24.86, a PEG ratio of 1.17 and a beta of 0.34. Neurocrine Biosciences, Inc. has a 1 year low of $116.00 and a 1 year high of $161.77. The stock’s fifty day moving average is $132.99 and its two-hundred day moving average is $138.21.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its earnings results on Wednesday, February 11th. The company reported $1.88 earnings per share (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 the consensus estimate of $804.21 million. Neurocrine Biosciences had a net margin of 21.55% and a return on equity of 19.79%. The business’s quarterly revenue was up 28.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.69 earnings per share. As a group, analysts predict that Neurocrine Biosciences, Inc. will post 7.17 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on NBIX shares. Weiss Ratings restated a “hold (c+)” rating on shares of Neurocrine Biosciences in a research note on Tuesday, April 21st. Guggenheim restated a “buy” rating and set a $175.00 price objective on shares of Neurocrine Biosciences in a research note on Wednesday, May 6th. JPMorgan Chase & Co. raised their price objective on Neurocrine Biosciences from $177.00 to $185.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Wolfe Research initiated coverage on Neurocrine Biosciences in a research note on Tuesday, February 24th. They issued an “outperform” rating and a $160.00 target price on the stock. Finally, Canaccord Genuity Group raised their target price on Neurocrine Biosciences from $164.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, April 7th. 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, the stock presently has an average rating of “Moderate Buy” and an average target price of $184.15.

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.