Zurcher Kantonalbank Zurich Cantonalbank Boosts Stock Position in Neurocrine Biosciences, Inc. $NBIX

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 44.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 97,450 shares of the company’s stock after buying an additional 30,081 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.10% of Neurocrine Biosciences worth $13,821,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Royal Bank of Canada increased its holdings in Neurocrine Biosciences by 36.7% during the 1st quarter. Royal Bank of Canada now owns 82,810 shares of the company’s stock worth $9,158,000 after purchasing an additional 22,224 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Neurocrine Biosciences by 60.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,783 shares of the company’s stock worth $1,647,000 after purchasing an additional 5,577 shares during the period. NewEdge Advisors LLC increased its holdings in Neurocrine Biosciences by 56.3% during the 1st quarter. NewEdge Advisors LLC now owns 7,630 shares of the company’s stock worth $844,000 after purchasing an additional 2,747 shares during the period. Empowered Funds LLC purchased a new stake in Neurocrine Biosciences during the 1st quarter worth about $1,333,000. Finally, Geneos Wealth Management Inc. increased its holdings in Neurocrine Biosciences by 143.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after purchasing an additional 135 shares during the period. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NBIX. Wall Street Zen downgraded Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Monday, February 16th. JPMorgan Chase & Co. upped their price target on Neurocrine Biosciences from $176.00 to $177.00 and gave the stock an “overweight” rating in a report on Thursday, March 12th. Zacks Research upgraded Neurocrine Biosciences from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 15th. Citigroup upped their price target on Neurocrine Biosciences from $204.00 to $242.00 and gave the stock a “buy” rating in a report on Tuesday, April 7th. Finally, Truist Financial cut their price target on Neurocrine Biosciences from $169.00 to $140.00 and set a “buy” rating on the stock in a report on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $180.67.

Neurocrine Biosciences Stock Performance

NASDAQ:NBIX opened at $131.18 on Thursday. The stock has a 50-day simple moving average of $129.86 and a 200-day simple moving average of $138.09. The stock has a market cap of $13.19 billion, a P/E ratio of 28.15, a P/E/G ratio of 0.68 and a beta of 0.35. Neurocrine Biosciences, Inc. has a 1 year low of $101.15 and a 1 year high of $160.18.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data 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). The business had revenue of $805.50 million for the quarter, compared to analyst estimates 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 was up 28.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.69 earnings per share. On average, equities research analysts predict that Neurocrine Biosciences, Inc. will post 6.33 EPS 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.