UBS Group AG Acquires 618,956 Shares of Neurocrine Biosciences, Inc. $NBIX

Key Points

• UBS boosted its stake in Neurocrine by 169.8%, buying 618,956 shares in Q4 to own 983,528 shares (≈0.99% of the company) valued at about $139.5 million.
• Neurocrine's latest quarter missed EPS estimates—$1.88 reported vs. $2.36 expected—while revenue was $805.5 million, up 28.3% year-over-year.
• Institutional investors hold 92.59% of NBIX, and Wall Street's consensus is a "Moderate Buy" with an average target price of $180.45 versus a recent share price near $131.67.

UBS Group AG increased its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 169.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 983,528 shares of the company's stock after buying an additional 618,956 shares during the period. UBS Group AG owned 0.99% of Neurocrine Biosciences worth $139,494,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of NBIX. Royal Bank of Canada raised its stake in shares of Neurocrine Biosciences by 36.7% during the first quarter. Royal Bank of Canada now owns 82,810 shares of the company's stock worth $9,158,000 after buying an additional 22,224 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Neurocrine Biosciences by 60.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,783 shares of the company's stock valued at $1,647,000 after purchasing an additional 5,577 shares during the period. NewEdge Advisors LLC grew its holdings in Neurocrine Biosciences by 56.3% during the first quarter. NewEdge Advisors LLC now owns 7,630 shares of the company's stock valued at $844,000 after purchasing an additional 2,747 shares during the period. Empowered Funds LLC acquired a new position in Neurocrine Biosciences during the first quarter valued at approximately $1,333,000. Finally, Geneos Wealth Management Inc. increased its stake in Neurocrine Biosciences by 143.6% in the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company's stock valued at $25,000 after purchasing an additional 135 shares in the last quarter. 92.59% of the stock is owned by institutional investors.

Neurocrine Biosciences Stock Performance

Shares of NBIX opened at $131.67 on Friday. Neurocrine Biosciences, Inc. has a twelve month low of $105.45 and a twelve month high of $160.18. The firm's 50 day moving average price is $130.25 and its two-hundred day moving average price is $137.73. The firm has a market cap of $13.24 billion, a P/E ratio of 28.26, a PEG ratio of 0.68 and a beta of 0.35.

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

Wall Street Analysts Forecast Growth

NBIX has been the topic of several analyst reports. UBS Group cut their target price on shares of Neurocrine Biosciences from $188.00 to $178.00 and set a "buy" rating on the stock in a report on Friday, January 23rd. BMO Capital Markets cut their target price on shares of Neurocrine Biosciences from $147.00 to $140.00 and set a "market perform" rating on the stock in a report on Thursday, February 12th. Needham & Company LLC reiterated a "buy" rating and issued a $185.00 target price on shares of Neurocrine Biosciences in a report on Monday, April 6th. Zacks Research upgraded shares of Neurocrine Biosciences from a "strong sell" rating to a "hold" rating in a report on Wednesday, April 15th. Finally, Canaccord Genuity Group increased their target price 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. One equities research 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. According to MarketBeat, Neurocrine Biosciences presently has a consensus rating of "Moderate Buy" and an average target price 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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