Neurocrine Biosciences, Inc. $NBIX Shares Purchased by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management increased its stake in Neurocrine Biosciences by 12.0% in Q4, buying 83,488 shares to hold 776,934 shares worth about $110.3 million (0.78% of the company).
• Other major investors including JPMorgan, AQR, UBS and Dimensional also raised positions—AQR by 83.7% and UBS by 169.8%—leaving institutional and hedge fund ownership at 92.59%.
• Neurocrine missed Q4 EPS estimates ($1.88 vs. $2.36) while reporting $805.5M revenue, and the stock carries a Moderate Buy consensus with an average price target of $180.45 and a market cap of $12.88 billion.

Pictet Asset Management Holding SA increased its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 12.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 776,934 shares of the company's stock after purchasing an additional 83,488 shares during the quarter. Pictet Asset Management Holding SA owned 0.78% of Neurocrine Biosciences worth $110,305,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its stake in Neurocrine Biosciences by 11.0% during 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 in the last quarter. AQR Capital Management LLC grew its stake 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 worth $388,435,000 after purchasing an additional 1,263,633 shares in the last quarter. Deerfield Management Company L.P. grew its stake in Neurocrine Biosciences by 1.4% during the 3rd quarter. Deerfield Management Company L.P. now owns 1,184,345 shares of the company's stock worth $166,258,000 after purchasing an additional 16,543 shares in the last quarter. UBS Group AG grew its stake in Neurocrine Biosciences by 169.8% during the 4th 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 in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Neurocrine Biosciences by 3.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 710,122 shares of the company's stock worth $99,686,000 after purchasing an additional 25,683 shares in the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

Neurocrine Biosciences Stock Up 0.3%

Shares of NASDAQ NBIX opened at $128.04 on Tuesday. The stock has a market cap of $12.88 billion, a PE ratio of 27.48, a price-to-earnings-growth ratio of 0.67 and a beta of 0.35. Neurocrine Biosciences, Inc. has a 52-week low of $104.73 and a 52-week high of $160.18. The business has a 50-day moving average price of $130.15 and a 200 day moving average price of $137.88.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last announced its earnings results on Wednesday, February 11th. The company reported $1.88 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.36 by ($0.48). The firm had revenue of $805.50 million during the quarter, compared to analyst estimates of $804.21 million. Neurocrine Biosciences had a net margin of 16.73% and a return on equity of 16.48%. The firm's revenue for the quarter was up 28.3% compared to the same quarter last year. During the same period last year, the company earned $1.69 earnings per share. Sell-side analysts anticipate that Neurocrine Biosciences, Inc. will post 6.33 earnings per share for the current year.

Analyst Upgrades and Downgrades

NBIX has been the subject of several analyst reports. Wells Fargo & Company lowered their target price on Neurocrine Biosciences from $180.00 to $175.00 and set an "overweight" rating for the company in a research note on Friday, February 13th. Needham & Company LLC reissued a "buy" rating and set a $185.00 target price on shares of Neurocrine Biosciences in a research note on Monday, April 6th. Leerink Partners upped their price objective on Neurocrine Biosciences from $160.00 to $170.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 22nd. UBS Group lowered their price objective on Neurocrine Biosciences from $188.00 to $178.00 and set a "buy" rating for the company in a research report on Friday, January 23rd. Finally, HC Wainwright upped their price objective on Neurocrine Biosciences from $192.00 to $215.00 and gave the stock a "buy" rating in a research report on Tuesday, April 7th. One research 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 company. According to data from MarketBeat.com, Neurocrine Biosciences presently has an average rating of "Moderate Buy" and an average price target 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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