Munich Reinsurance Co Stock Corp in Munich Buys 10,168 Shares of Neurocrine Biosciences, Inc. $NBIX

Key Points

• Munich Re raised its stake in Neurocrine Biosciences by 69.4% in Q4, buying 10,168 shares to hold 24,821 shares worth $3.499 million.
• Neurocrine's latest quarter delivered $805.5M in revenue (up 28.3% year-over-year) but missed on EPS, reporting $1.88 vs. the $2.36 consensus.
• Wall Street sentiment is broadly positive with an average rating of "Moderate Buy"—one Strong Buy, 16 Buys and five Holds—and an average target price of $180.45.

Munich Reinsurance Co Stock Corp in Munich raised its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 69.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,821 shares of the company's stock after purchasing an additional 10,168 shares during the period. Munich Reinsurance Co Stock Corp in Munich's holdings in Neurocrine Biosciences were worth $3,499,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. AlTi Global Inc. lifted its holdings in shares of Neurocrine Biosciences by 1.0% during the 3rd quarter. AlTi Global Inc. now owns 6,828 shares of the company's stock worth $959,000 after acquiring an additional 70 shares during the period. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Neurocrine Biosciences by 0.7% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 11,112 shares of the company's stock worth $1,560,000 after acquiring an additional 77 shares during the period. Perigon Wealth Management LLC lifted its holdings in shares of Neurocrine Biosciences by 3.1% during the 4th quarter. Perigon Wealth Management LLC now owns 2,590 shares of the company's stock worth $367,000 after acquiring an additional 78 shares during the period. Signaturefd LLC lifted its holdings in shares of Neurocrine Biosciences by 4.5% during the 4th quarter. Signaturefd LLC now owns 1,925 shares of the company's stock worth $273,000 after acquiring an additional 83 shares during the period. Finally, Great Lakes Advisors LLC lifted its holdings in shares of Neurocrine Biosciences by 2.4% during the 3rd quarter. Great Lakes Advisors LLC now owns 3,605 shares of the company's stock worth $506,000 after acquiring an additional 84 shares during the period. 92.59% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Leerink Partners raised their price objective on shares of Neurocrine Biosciences from $160.00 to $170.00 and gave the stock an "outperform" rating in a report on Wednesday. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Neurocrine Biosciences in a report on Tuesday. Morgan Stanley raised their price objective on shares of Neurocrine Biosciences from $173.00 to $185.00 and gave the stock an "equal weight" rating in a report on Friday, April 10th. Canaccord Genuity Group raised their price objective on shares of Neurocrine Biosciences from $164.00 to $200.00 and gave the stock a "buy" rating in a report on Tuesday, April 7th. Finally, Wells Fargo & Company reduced their price objective on shares of Neurocrine Biosciences from $180.00 to $175.00 and set an "overweight" rating for the company in a report on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Neurocrine Biosciences has an average rating of "Moderate Buy" and an average target price of $180.45.

Neurocrine Biosciences Stock Down 1.9%

Shares of NBIX stock opened at $127.66 on Friday. Neurocrine Biosciences, Inc. has a 12-month low of $104.42 and a 12-month high of $160.18. The company has a market capitalization of $12.84 billion, a P/E ratio of 27.39, a P/E/G ratio of 0.68 and a beta of 0.35. The firm has a 50-day moving average price of $130.08 and a 200 day moving average price of $137.96.

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

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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