Neurocrine Biosciences, Inc. $NBIX Holdings Raised by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al lifted its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 50.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 147,623 shares of the company’s stock after acquiring an additional 49,200 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Neurocrine Biosciences were worth $20,937,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Nilsine Partners LLC acquired a new position in Neurocrine Biosciences during the fourth quarter worth about $1,197,000. Ruffer LLP acquired a new position in Neurocrine Biosciences during the fourth quarter worth about $2,479,000. Korea Investment CORP grew its holdings in Neurocrine Biosciences by 94.3% during the third quarter. Korea Investment CORP now owns 71,689 shares of the company’s stock worth $10,064,000 after acquiring an additional 34,800 shares during the period. CIBC Private Wealth Group LLC grew its holdings in Neurocrine Biosciences by 17,250.0% during the third quarter. CIBC Private Wealth Group LLC now owns 7,981 shares of the company’s stock worth $1,120,000 after acquiring an additional 7,935 shares during the period. Finally, Focus Partners Advisor Solutions LLC grew its holdings in Neurocrine Biosciences by 152.5% during the third quarter. Focus Partners Advisor Solutions LLC now owns 13,263 shares of the company’s stock worth $1,945,000 after acquiring an additional 8,011 shares during the period. 92.59% of the stock is currently owned by institutional investors.

Neurocrine Biosciences Price Performance

Shares of Neurocrine Biosciences stock opened at $161.32 on Thursday. The firm has a market cap of $16.22 billion, a price-to-earnings ratio of 24.86, a P/E/G ratio of 1.17 and a beta of 0.34. Neurocrine Biosciences, Inc. has a 52-week low of $116.00 and a 52-week high of $161.77. The stock has a 50-day simple moving average of $132.99 and a 200-day simple moving average of $138.21.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.36 by ($0.48). The firm had revenue of $805.50 million for the quarter, compared to analyst estimates of $804.21 million. Neurocrine Biosciences had a net margin of 21.55% and a return on equity of 19.79%. The firm’s quarterly revenue was up 28.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.69 earnings per share. As a group, equities research analysts predict that Neurocrine Biosciences, Inc. will post 7.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Royal Bank Of Canada lifted their target price on Neurocrine Biosciences from $176.00 to $180.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. HC Wainwright lifted their price target on Neurocrine Biosciences from $192.00 to $215.00 and gave the company a “buy” rating in a report on Tuesday, April 7th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Neurocrine Biosciences in a report on Tuesday, April 21st. JPMorgan Chase & Co. lifted their price target on Neurocrine Biosciences from $177.00 to $185.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Finally, Piper Sandler lifted their price target on Neurocrine Biosciences from $190.00 to $207.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Neurocrine Biosciences currently has a consensus rating of “Moderate Buy” and an average price target of $184.15.

About Neurocrine Biosciences

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.