Horizon Investments LLC Buys 16,474 Shares of Neurocrine Biosciences, Inc. $NBIX

Key Points

• Horizon Investments LLC raised its stake in Neurocrine Biosciences by 42.7% in Q4, buying 16,474 shares to own 55,090 shares worth about $7.81 million (≈0.06% of the company).
• Several large institutions also increased positions — AQR (+83.7% to 2,773,648 shares), UBS (+169.8% to 983,528 shares) and JPMorgan (+11.0% to 4,730,152 shares) — leaving institutional ownership at 92.59%.
• Analysts hold a consensus “Moderate Buy” with a $180.45 target; Neurocrine reported an EPS miss ($1.88 vs. $2.36) while revenue rose 28.3% YoY, and the stock trades at a $13.25 billion market cap with a PE of 28.28.

Horizon Investments LLC raised its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 42.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,090 shares of the company's stock after buying an additional 16,474 shares during the period. Horizon Investments LLC owned 0.06% of Neurocrine Biosciences worth $7,813,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of NBIX. AQR Capital Management LLC raised its holdings 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 valued at $388,435,000 after buying an additional 1,263,633 shares in the last quarter. UBS Group AG raised its holdings in Neurocrine Biosciences by 169.8% during the fourth quarter. UBS Group AG now owns 983,528 shares of the company's stock valued at $139,494,000 after buying an additional 618,956 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Neurocrine Biosciences by 11.0% during the third quarter. JPMorgan Chase & Co. now owns 4,730,152 shares of the company's stock valued at $664,019,000 after buying an additional 468,405 shares in the last quarter. Two Sigma Investments LP bought a new position in Neurocrine Biosciences during the third quarter valued at about $48,791,000. Finally, Adage Capital Partners GP L.L.C. bought a new position in Neurocrine Biosciences during the second quarter valued at about $42,933,000. 92.59% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on NBIX shares. Morgan Stanley raised their target price on Neurocrine Biosciences from $173.00 to $185.00 and gave the company an "equal weight" rating in a report on Friday, April 10th. 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 report on Tuesday, April 7th. BMO Capital Markets dropped their price objective on Neurocrine Biosciences from $147.00 to $140.00 and set a "market perform" rating on the stock in a research note on Thursday, February 12th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Neurocrine Biosciences in a research note on Tuesday, April 21st. Finally, Royal Bank Of Canada dropped their price objective on Neurocrine Biosciences from $180.00 to $177.00 and set an "outperform" rating on the stock in a research note on Thursday, February 12th. 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 company. According to MarketBeat, Neurocrine Biosciences currently has a consensus rating of "Moderate Buy" and a consensus price target of $180.45.

Neurocrine Biosciences Stock Performance

Neurocrine Biosciences stock opened at $131.78 on Friday. The business's 50-day simple moving average is $130.25 and its 200-day simple moving average is $137.74. The firm has a market capitalization of $13.25 billion, a PE ratio of 28.28, a PEG ratio of 0.69 and a beta of 0.34. Neurocrine Biosciences, Inc. has a 52 week low of $107.96 and a 52 week high of $160.18.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last posted 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). The business had revenue of $805.50 million during the quarter, compared to the consensus estimate of $804.21 million. Neurocrine Biosciences had a return on equity of 16.48% and a net margin of 16.73%.The company's revenue for the quarter was up 28.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.69 earnings per share. Research analysts forecast that Neurocrine Biosciences, Inc. will post 6.33 earnings per share for the current year.

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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