Friedenthal Financial Makes New Investment in Neurocrine Biosciences, Inc. $NBIX

Friedenthal Financial bought a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the 4th quarter, HoldingsChannel reports. The firm bought 7,276 shares of the company’s stock, valued at approximately $1,032,000.

Several other institutional investors have also recently made changes to their positions in NBIX. Royal Bank of Canada lifted its position 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 acquiring an additional 22,224 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of 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 worth $1,647,000 after acquiring an additional 5,577 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in shares of Neurocrine Biosciences by 56.3% in the first quarter. NewEdge Advisors LLC now owns 7,630 shares of the company’s stock worth $844,000 after buying an additional 2,747 shares in the last quarter. Empowered Funds LLC purchased a new stake in shares of Neurocrine Biosciences in the first quarter worth about $1,333,000. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Neurocrine Biosciences by 143.6% in the first 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. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NBIX. BMO Capital Markets lowered their price target 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. Wedbush increased their price target on shares of Neurocrine Biosciences from $151.00 to $166.00 and gave the stock an “outperform” rating in a report on Tuesday, April 7th. JPMorgan Chase & Co. increased their price objective on Neurocrine Biosciences from $176.00 to $177.00 and gave the stock an “overweight” rating in a research report on Thursday, March 12th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Neurocrine Biosciences in a research report on Thursday, January 22nd. Finally, Wolfe Research assumed coverage on Neurocrine Biosciences in a research report on Tuesday, February 24th. They issued an “outperform” rating and a $160.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Neurocrine Biosciences has a consensus rating of “Moderate Buy” and a consensus target price of $181.20.

Neurocrine Biosciences Stock Up 3.8%

NASDAQ NBIX opened at $133.25 on Friday. The stock’s 50-day simple moving average is $130.30 and its two-hundred day simple moving average is $138.22. Neurocrine Biosciences, Inc. has a twelve month low of $98.95 and a twelve month high of $160.18. The company has a market capitalization of $13.40 billion, a price-to-earnings ratio of 28.59, a PEG ratio of 0.67 and a beta of 0.35.

Neurocrine Biosciences (NASDAQ:NBIX) last released 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). The firm had revenue of $805.50 million for the quarter, compared to analysts’ expectations of $804.21 million. Neurocrine Biosciences had a net margin of 16.73% and a return on equity of 16.48%. The company’s revenue for the quarter was up 28.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.69 EPS. On average, equities analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal 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.