Brown Advisory Inc. grew its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX – Get Rating) by 3.9% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 973,459 shares of the company’s stock after buying an additional 36,975 shares during the quarter. Brown Advisory Inc.’s holdings in Neurocrine Biosciences were worth $91,217,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in NBIX. IndexIQ Advisors LLC acquired a new stake in shares of Neurocrine Biosciences in the first quarter valued at $27,000. Orion Capital Management LLC acquired a new stake in shares of Neurocrine Biosciences in the fourth quarter valued at $34,000. Quadrant Capital Group LLC increased its stake in shares of Neurocrine Biosciences by 6,483.3% in the first quarter. Quadrant Capital Group LLC now owns 395 shares of the company’s stock valued at $37,000 after buying an additional 389 shares in the last quarter. Standard Family Office LLC acquired a new stake in shares of Neurocrine Biosciences in the fourth quarter valued at $45,000. Finally, Prospera Financial Services Inc acquired a new stake in Neurocrine Biosciences in the first quarter worth about $46,000. 93.21% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on the company. Barclays lifted their price objective on Neurocrine Biosciences from $110.00 to $113.00 and gave the stock an “overweight” rating in a research report on Friday. Wedbush reiterated an “outperform” rating on shares of Neurocrine Biosciences in a research report on Thursday, April 28th. Morgan Stanley lifted their price objective on Neurocrine Biosciences from $100.00 to $102.00 and gave the stock an “equal weight” rating in a research report on Friday, July 15th. Finally, Robert W. Baird lifted their price objective on Neurocrine Biosciences from $117.00 to $125.00 in a research report on Friday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Neurocrine Biosciences currently has an average rating of “Hold” and an average target price of $113.06.
Insider Activity at Neurocrine Biosciences
Neurocrine Biosciences Trading Up 8.5 %
NASDAQ:NBIX opened at $104.04 on Friday. Neurocrine Biosciences, Inc. has a fifty-two week low of $71.88 and a fifty-two week high of $108.01. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.02 and a quick ratio of 3.90. The stock has a market capitalization of $9.94 billion, a PE ratio of 945.90 and a beta of 0.58. The business’s 50-day simple moving average is $95.36 and its 200-day simple moving average is $90.67.
Neurocrine Biosciences (NASDAQ:NBIX – Get Rating) last released its quarterly earnings data on Wednesday, May 4th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.19). Neurocrine Biosciences had a net margin of 0.94% and a return on equity of 0.89%. The business had revenue of $310.60 million for the quarter, compared to the consensus estimate of $304.07 million. During the same quarter last year, the firm earned $0.33 EPS. The company’s revenue for the quarter was up 31.3% on a year-over-year basis. Sell-side analysts expect that Neurocrine Biosciences, Inc. will post 1.93 earnings per share for the current fiscal year.
About Neurocrine Biosciences
Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, endocrine, and psychiatric disorders. The company's portfolio includes treatments for tardive dyskinesia, Parkinson's disease, endometriosis, and uterine fibroids, as well as clinical programs in various therapeutic areas.
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