Fortis Capital Advisors LLC Invests $1.35 Million in Neurocrine Biosciences, Inc. $NBIX

Key Points

• Fortis Capital Advisors opened a new position in Neurocrine, buying 9,485 shares valued at roughly $1.35 million, and the stock is heavily institutional with about 92.59% ownership as several other funds also boosted stakes.
• Analysts rate NBIX a consensus "Moderate Buy" with an average price target of $181.20 (breakdown: 1 Strong Buy, 16 Buy, 5 Hold), implying upside from current levels.
• In the latest quarter NBIX reported EPS of $1.88 (missing estimates of $2.36) while revenue rose 28.3% YoY to $805.5M; the stock trades near $133.25 with a 12‑month range of $98.95–$160.18 and a market cap of $13.4B.

Fortis Capital Advisors LLC bought a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 9,485 shares of the company's stock, valued at approximately $1,345,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Krilogy Financial LLC raised its holdings in shares of Neurocrine Biosciences by 38.1% in the 4th quarter. Krilogy Financial LLC now owns 11,446 shares of the company's stock valued at $1,540,000 after purchasing an additional 3,157 shares in the last quarter. Earned Wealth Advisors LLC lifted its holdings in shares of Neurocrine Biosciences by 6.9% during the 4th quarter. Earned Wealth Advisors LLC now owns 2,636 shares of the company's stock valued at $374,000 after purchasing an additional 171 shares during the last quarter. Seeds Investor LLC boosted its holdings in Neurocrine Biosciences by 10.3% in the fourth quarter. Seeds Investor LLC now owns 2,494 shares of the company's stock worth $354,000 after acquiring an additional 233 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. grew its stake in shares of Neurocrine Biosciences by 3.6% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,968 shares of the company's stock worth $705,000 after acquiring an additional 171 shares during the last quarter. Finally, Friedenthal Financial acquired a new position in shares of Neurocrine Biosciences during the fourth quarter valued at about $1,032,000. 92.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NBIX has been the subject of several research reports. Weiss Ratings reiterated a "hold (c+)" rating on shares of Neurocrine Biosciences in a research note on Thursday, January 22nd. Wolfe Research assumed coverage on Neurocrine Biosciences in a research report on Tuesday, February 24th. They set an "outperform" rating and a $160.00 price target for the company. UBS Group cut their price objective on Neurocrine Biosciences from $188.00 to $178.00 and set a "buy" rating on the stock in a report on Friday, January 23rd. Wedbush upped their target price on Neurocrine Biosciences from $151.00 to $166.00 and gave the company an "outperform" rating in a research report on Tuesday, April 7th. Finally, Zacks Research raised shares of Neurocrine Biosciences from a "strong sell" rating to a "hold" rating in a research report on Wednesday, April 15th. One investment 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's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $181.20.

Neurocrine Biosciences Stock Performance

Shares of NBIX stock opened at $133.25 on Monday. Neurocrine Biosciences, Inc. has a twelve month low of $98.95 and a twelve month high of $160.18. The stock has a market cap of $13.40 billion, a P/E ratio of 28.59, a P/E/G ratio of 0.69 and a beta of 0.35. The stock has a 50 day moving average of $130.30 and a 200 day moving average of $138.23.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its quarterly earnings data on Wednesday, February 11th. The company reported $1.88 EPS for the quarter, missing analysts' consensus estimates of $2.36 by ($0.48). Neurocrine Biosciences had a return on equity of 16.48% and a net margin of 16.73%.The firm had revenue of $805.50 million for the quarter, compared to analyst estimates of $804.21 million. During the same period in the previous year, the business earned $1.69 EPS. Neurocrine Biosciences's revenue for the quarter was up 28.3% compared to the same quarter last year. On average, research analysts predict that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

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.

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