Caerus Investment Advisors LLC Acquires New Holdings in Neurocrine Biosciences, Inc. $NBIX

Caerus Investment Advisors LLC acquired a new position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 4,733 shares of the company’s stock, valued at approximately $664,000.

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

Neurocrine Biosciences Stock Performance

Shares of NBIX stock opened at $130.71 on Wednesday. Neurocrine Biosciences, Inc. has a fifty-two week low of $84.23 and a fifty-two week high of $160.18. The firm has a market capitalization of $13.12 billion, a price-to-earnings ratio of 28.05, a PEG ratio of 0.68 and a beta of 0.32. The stock’s 50-day simple moving average is $132.82 and its 200-day simple moving average is $140.15.

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). The company had revenue of $805.50 million for the quarter, compared to analyst estimates of $804.21 million. Neurocrine Biosciences had a net margin of 16.73% and a return on equity of 16.48%. The business’s revenue was up 28.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.69 EPS. As a group, equities analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, CEO Kyle Gano sold 36,400 shares of the firm’s stock in a transaction on Friday, January 16th. The shares were sold at an average price of $132.70, for a total value of $4,830,280.00. Following the completion of the transaction, the chief executive officer owned 140,407 shares of the company’s stock, valued at approximately $18,632,008.90. This trade represents a 20.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 4.30% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on NBIX shares. Truist Financial lowered their price target on shares of Neurocrine Biosciences from $169.00 to $140.00 and set a “buy” rating on the stock in a report on Tuesday, February 17th. Citigroup boosted their price objective on shares of Neurocrine Biosciences from $203.00 to $204.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. Wedbush increased their target price on shares of Neurocrine Biosciences from $149.00 to $151.00 and gave the company an “outperform” rating in a research report on Thursday, February 12th. JPMorgan Chase & Co. raised their target price on shares of Neurocrine Biosciences from $176.00 to $177.00 and gave the company an “overweight” rating in a research note on Thursday, March 12th. Finally, BMO Capital Markets cut 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. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $175.10.

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.