37,800 Shares in Neurocrine Biosciences, Inc. $NBIX Bought by Gray Foundation

Key Points

• Gray Foundation bought a new position of 37,800 shares (~$5.36M) in Neurocrine Biosciences in Q4, making the stock its 10th largest holding (1.3% of the portfolio); overall institutional ownership stands at about 92.59% with other major funds (AQR, UBS, JPMorgan, Two Sigma, Adage) also adding or initiating stakes.
• Neurocrine missed EPS on the most recent quarter ($1.88 vs. $2.36 est.) while revenue rose to $805.5M (up 28.3% YoY); shares trade near $127.66, the company has a $12.84B market cap, and analysts have an average rating of "Moderate Buy" with an average target of $180.45.

Gray Foundation bought a new position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 37,800 shares of the company's stock, valued at approximately $5,361,000. Neurocrine Biosciences makes up 1.3% of Gray Foundation's portfolio, making the stock its 10th largest holding.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its position in Neurocrine Biosciences by 83.7% during the 3rd quarter. AQR Capital Management LLC now owns 2,773,648 shares of the company's stock valued at $388,435,000 after purchasing an additional 1,263,633 shares during the last quarter. UBS Group AG raised its stake in shares of Neurocrine Biosciences by 169.8% in 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. JPMorgan Chase & Co. lifted its stake in shares of Neurocrine Biosciences by 11.0% in the 3rd 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 period. Two Sigma Investments LP purchased a new stake in shares of Neurocrine Biosciences in the 3rd quarter worth $48,791,000. Finally, Adage Capital Partners GP L.L.C. purchased a new position in shares of Neurocrine Biosciences during the 2nd quarter valued at $42,933,000. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Neurocrine Biosciences Stock Down 0.0%

Neurocrine Biosciences stock opened at $127.66 on Monday. The stock has a 50-day moving average price of $130.08 and a 200 day moving average price of $137.96. Neurocrine Biosciences, Inc. has a 52 week low of $104.42 and a 52 week high of $160.18. The company has a market capitalization of $12.84 billion, a price-to-earnings ratio of 27.39, a price-to-earnings-growth ratio of 0.67 and a beta of 0.35.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last released its quarterly earnings results 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 business 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 business's revenue for the quarter was up 28.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.69 EPS. Research analysts anticipate that Neurocrine Biosciences, Inc. will post 6.33 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on NBIX shares. UBS Group dropped their price target on Neurocrine Biosciences from $188.00 to $178.00 and set a "buy" rating for the company in a research note on Friday, January 23rd. Wall Street Zen raised shares of Neurocrine Biosciences from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Wedbush upped 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. Truist Financial decreased their price target on shares of Neurocrine Biosciences from $169.00 to $140.00 and set a "buy" rating on the stock in a research note on Tuesday, February 17th. Finally, Citigroup boosted their price objective on Neurocrine Biosciences from $204.00 to $242.00 and gave the stock a "buy" rating in a research note on Tuesday, April 7th. One research 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 data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $180.45.

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.

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