Ruffer LLP Purchases New Position in Neurocrine Biosciences, Inc. $NBIX

Ruffer LLP purchased a new stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the 4th quarter, HoldingsChannel reports. The firm purchased 17,453 shares of the company’s stock, valued at approximately $2,479,000.

Several other institutional investors and hedge funds have also recently modified their holdings of NBIX. Geneos Wealth Management Inc. increased its stake 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 valued at $25,000 after purchasing an additional 135 shares in the last quarter. USA Financial Formulas purchased a new position in shares of Neurocrine Biosciences in the 4th quarter valued at about $25,000. Golden State Wealth Management LLC increased its stake 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 valued at $26,000 after purchasing an additional 100 shares in the last quarter. Eastern Bank purchased a new position in shares of Neurocrine Biosciences in the 3rd quarter valued at about $27,000. Finally, Quent Capital LLC purchased a new position in shares of Neurocrine Biosciences in the 3rd quarter valued at about $32,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Trading Up 0.7%

NBIX stock opened at $131.18 on Thursday. Neurocrine Biosciences, Inc. has a 12-month low of $101.15 and a 12-month high of $160.18. The stock has a market cap of $13.19 billion, a price-to-earnings ratio of 28.15, a PEG ratio of 0.68 and a beta of 0.35. The business’s 50-day moving average is $129.86 and its 200 day moving average is $138.09.

Neurocrine Biosciences (NASDAQ:NBIX) last posted 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). Neurocrine Biosciences had a return on equity of 16.48% and a net margin of 16.73%.The firm had revenue of $805.50 million during the quarter, compared to analyst estimates of $804.21 million. During the same quarter in the previous year, the firm posted $1.69 earnings per share. The company’s quarterly revenue was up 28.3% on a year-over-year basis. As a group, equities analysts forecast that Neurocrine Biosciences, Inc. will post 6.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on NBIX shares. Canaccord Genuity Group lifted their price target on Neurocrine Biosciences from $164.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, April 7th. Truist Financial cut their price target on Neurocrine Biosciences from $169.00 to $140.00 and set a “buy” rating for the company in a research note on Tuesday, February 17th. Wall Street Zen lowered Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 16th. BMO Capital Markets cut their price target on Neurocrine Biosciences from $147.00 to $140.00 and set a “market perform” rating for the company in a research note on Thursday, February 12th. Finally, Wolfe Research started coverage on Neurocrine Biosciences in a research note on Tuesday, February 24th. They issued an “outperform” rating and a $160.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Neurocrine Biosciences has an average rating of “Moderate Buy” and an average target price of $180.67.

Neurocrine Biosciences 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.