Wesbanco Bank Inc. Buys 8,000 Shares of Neurocrine Biosciences, Inc. $NBIX

Wesbanco Bank Inc. lifted its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 88.9% during the 4th quarter, Holdings Channel reports. The firm owned 17,000 shares of the company’s stock after acquiring 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 quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in NBIX. AQR Capital Management LLC boosted its position in shares of Neurocrine Biosciences by 83.7% in the 3rd quarter. AQR Capital Management LLC now owns 2,773,648 shares of the company’s stock worth $388,435,000 after purchasing an additional 1,263,633 shares during the last quarter. UBS Group AG boosted its position in shares of Neurocrine Biosciences by 169.8% in the 4th quarter. UBS Group AG now owns 983,528 shares of the company’s stock worth $139,494,000 after purchasing an additional 618,956 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Neurocrine Biosciences by 11.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,730,152 shares of the company’s stock worth $664,019,000 after purchasing an additional 468,405 shares during the last quarter. Two Sigma Investments LP bought a new position in shares of Neurocrine Biosciences in the 3rd quarter worth $48,791,000. Finally, Adage Capital Partners GP L.L.C. bought a new position in shares of Neurocrine Biosciences in the 2nd quarter worth $42,933,000. 92.59% of the stock is currently owned by institutional investors.

Key Stories 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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on NBIX shares. Canaccord Genuity Group raised their price target on Neurocrine Biosciences from $164.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, April 7th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Neurocrine Biosciences in a report on Tuesday, April 21st. Needham & Company LLC reiterated a “buy” rating and set a $185.00 target price on shares of Neurocrine Biosciences in a report on Monday, April 6th. Wedbush lifted their target price on Neurocrine Biosciences from $166.00 to $176.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Wolfe Research began coverage on Neurocrine Biosciences in a report on Tuesday, February 24th. They set an “outperform” rating and a $160.00 target price on the stock. One equities 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $184.15.

Neurocrine Biosciences Trading Up 1.8%

NBIX stock opened at $152.25 on Friday. The business’s 50-day moving average price is $131.12 and its two-hundred day moving average price is $137.85. The firm has a market cap of $15.31 billion, a PE ratio of 23.46, a P/E/G ratio of 1.29 and a beta of 0.34. Neurocrine Biosciences, Inc. has a 1-year low of $115.66 and a 1-year high of $160.18.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its earnings results on Wednesday, February 11th. The company reported $1.88 earnings per share 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 the consensus estimate of $804.21 million. Neurocrine Biosciences had a return on equity of 19.79% and a net margin of 21.55%.The business’s revenue was up 28.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.69 earnings per share. On average, analysts forecast that Neurocrine Biosciences, Inc. will post 6.57 earnings per share for the current year.

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.