Wesbanco Bank Inc. Has $2.41 Million Holdings in Neurocrine Biosciences, Inc. $NBIX

Key Points

• Wesbanco Bank boosted its stake in Neurocrine Biosciences by 88.9% in the fourth quarter, ending with 17,000 shares valued at about $2.41 million.
• Neurocrine recently reported quarterly earnings of $1.88 per share, missing analyst expectations, while revenue of $805.5 million slightly topped estimates and rose 28.3% year over year.
• Wall Street sentiment remains mostly positive, with analysts maintaining a Moderate Buy consensus and an average price target of $184.15 despite a few target cuts and holds.

Wesbanco Bank Inc. lifted its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 88.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,000 shares of the company's stock after buying an additional 8,000 shares during the period. Wesbanco Bank Inc.'s holdings in Neurocrine Biosciences were worth $2,411,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of NBIX. USA Financial Formulas acquired a new position in shares of Neurocrine Biosciences in the 4th quarter worth approximately $25,000. Geneos Wealth Management Inc. raised its holdings in shares of Neurocrine Biosciences by 143.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company's stock worth $25,000 after buying an additional 135 shares in the last quarter. Golden State Wealth Management LLC raised its holdings in shares of Neurocrine Biosciences by 120.5% in the 3rd quarter. Golden State Wealth Management LLC now owns 183 shares of the company's stock worth $26,000 after buying an additional 100 shares in the last quarter. Eastern Bank acquired a new stake in Neurocrine Biosciences during the 3rd quarter valued at $27,000. Finally, Quent Capital LLC acquired a new stake in Neurocrine Biosciences during the 3rd quarter valued at $32,000. 92.59% of the stock is owned by institutional investors and hedge funds.

Neurocrine Biosciences Stock Performance

Shares of NBIX opened at $152.25 on Friday. The firm has a market capitalization of $15.31 billion, a price-to-earnings ratio of 23.46, a PEG ratio of 1.29 and a beta of 0.34. The business's fifty day moving average price is $131.12 and its two-hundred day moving average price is $137.85. Neurocrine Biosciences, Inc. has a 52 week low of $115.66 and a 52 week high of $160.18.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last announced 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 firm had revenue of $805.50 million during the quarter, compared to the consensus estimate of $804.21 million. Neurocrine Biosciences had a net margin of 21.55% and a return on equity of 19.79%. The firm's quarterly revenue was up 28.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.69 earnings per share. As a group, research analysts forecast that Neurocrine Biosciences, Inc. will post 6.57 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. BMO Capital Markets dropped their price target on Neurocrine Biosciences from $147.00 to $140.00 and set a "market perform" rating for the company in a report on Thursday, February 12th. Royal Bank Of Canada raised their price target on Neurocrine Biosciences from $176.00 to $180.00 and gave the company an "outperform" rating in a report on Wednesday. Leerink Partners raised their price target on Neurocrine Biosciences from $160.00 to $170.00 and gave the company an "outperform" rating in a report on Wednesday, April 22nd. UBS Group dropped their price target on Neurocrine Biosciences from $188.00 to $178.00 and set a "buy" rating for the company in a report on Friday, January 23rd. Finally, Truist Financial raised their price target on Neurocrine Biosciences from $140.00 to $155.00 and gave the company a "buy" rating in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $184.15.

Key Headlines Impacting Neurocrine Biosciences

Here are the key news stories impacting Neurocrine Biosciences this week:

• Positive Sentiment: JPMorgan raised its price target on Neurocrine Biosciences to $185 from $177 and kept an overweight rating, signaling continued confidence in upside potential. Article link
• Positive Sentiment: Truist Financial lifted its price target to $155 from $140 and reiterated a buy rating, adding to the recent analyst support. Article link
• Positive Sentiment: Multiple firms, including Morgan Stanley, Guggenheim, Piper Sandler and Wedbush, issued upbeat views on NBIX, suggesting broad Wall Street optimism around the stock’s outlook. Article link
• Positive Sentiment: Neurocrine’s latest earnings beat helped reassure investors that the company’s core business remains on track, even if some analysts are still refining their models after the report. Article link
• Neutral Sentiment: A Seeking Alpha article argued that the core business is holding up, while noting the Soleno deal could add upside but also introduces risk. Article link

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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