Advisors Preferred LLC Purchases New Position in Neurocrine Biosciences, Inc. $NBIX

Key Points

• Advisors Preferred LLC bought a new stake of 29,867 shares in Neurocrine Biosciences (NASDAQ:NBIX) during Q4, valued at about $4.2 million, and institutional investors now own roughly 92.59% of the company.
• Neurocrine’s Q4 results showed EPS of $1.88, missing the $2.36 consensus by $0.48, while revenue came in at $805.5 million, up 28.3% year-over-year and essentially in line with estimates.
• The stock has a consensus rating of “Moderate Buy” with an average analyst price target of $180.45 amid mixed recent analyst actions (price-target cuts and upgrades).

Advisors Preferred LLC purchased a new stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 29,867 shares of the company's stock, valued at approximately $4,199,000.

A number of other hedge funds also recently bought and sold shares of NBIX. Seizert Capital Partners LLC boosted its position in Neurocrine Biosciences by 0.9% during the 4th quarter. Seizert Capital Partners LLC now owns 70,670 shares of the company's stock valued at $10,023,000 after acquiring an additional 635 shares in the last quarter. PKO Investment Management Joint Stock Co bought a new stake in shares of Neurocrine Biosciences in the 4th quarter worth approximately $184,000. Horizon Investments LLC boosted its position in shares of Neurocrine Biosciences by 42.7% in the 4th quarter. Horizon Investments LLC now owns 55,090 shares of the company's stock worth $7,813,000 after purchasing an additional 16,474 shares in the last quarter. Danske Bank A S boosted its position in shares of Neurocrine Biosciences by 8.8% in the 4th quarter. Danske Bank A S now owns 47,216 shares of the company's stock worth $6,697,000 after purchasing an additional 3,800 shares in the last quarter. Finally, GenTrust LLC bought a new stake in shares of Neurocrine Biosciences in the 4th quarter worth approximately $250,000. Hedge funds and other institutional investors own 92.59% of the company's stock.

Neurocrine Biosciences Price Performance

NASDAQ NBIX opened at $131.78 on Monday. The business's fifty day moving average price is $130.25 and its 200-day moving average price is $137.74. The stock has a market capitalization of $13.25 billion, a price-to-earnings ratio of 28.28, a PEG ratio of 0.69 and a beta of 0.34. Neurocrine Biosciences, Inc. has a 1-year low of $107.96 and a 1-year high of $160.18.

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 the consensus estimate of $2.36 by ($0.48). The firm had revenue of $805.50 million for the quarter, compared to the consensus estimate of $804.21 million. Neurocrine Biosciences had a net margin of 16.73% and a return on equity of 16.48%. Neurocrine Biosciences's quarterly revenue was up 28.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.69 earnings per share. Equities research analysts anticipate that Neurocrine Biosciences, Inc. will post 6.33 EPS for the current year.

Wall Street Analyst Weigh In

NBIX has been the topic of several analyst reports. Truist Financial lowered their price objective on Neurocrine Biosciences from $169.00 to $140.00 and set a "buy" rating on the stock in a research report on Tuesday, February 17th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Neurocrine Biosciences in a research report on Tuesday, April 21st. Royal Bank Of Canada lowered their price objective on Neurocrine Biosciences from $180.00 to $177.00 and set an "outperform" rating on the stock in a research report on Thursday, February 12th. Wall Street Zen raised Neurocrine Biosciences from a "buy" rating to a "strong-buy" rating in a research report on Saturday, April 25th. Finally, Canaccord Genuity Group boosted their target price on Neurocrine Biosciences from $164.00 to $200.00 and gave the stock a "buy" rating in a research report on Tuesday, April 7th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $180.45.

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.

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