M&T Bank Corp Buys 5,669 Shares of Neurocrine Biosciences, Inc. $NBIX

M&T Bank Corp boosted its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 171.2% during the 4th quarter, HoldingsChannel reports. The fund owned 8,980 shares of the company’s stock after purchasing an additional 5,669 shares during the period. M&T Bank Corp’s holdings in Neurocrine Biosciences were worth $1,274,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in NBIX. Royal Bank of Canada increased its stake in 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 during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake 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 worth $1,647,000 after acquiring an additional 5,577 shares during the last quarter. NewEdge Advisors LLC increased its stake in Neurocrine Biosciences by 56.3% during the first quarter. NewEdge Advisors LLC now owns 7,630 shares of the company’s stock worth $844,000 after acquiring an additional 2,747 shares during the last quarter. Empowered Funds LLC bought a new stake in Neurocrine Biosciences during the first quarter worth approximately $1,333,000. Finally, Geneos Wealth Management Inc. boosted its position in shares of Neurocrine Biosciences by 143.6% during the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after buying an additional 135 shares during the period. 92.59% of the stock is owned by institutional investors.

Neurocrine Biosciences Stock Up 2.4%

Neurocrine Biosciences stock opened at $131.23 on Thursday. The business has a fifty day moving average of $130.21 and a two-hundred day moving average of $137.78. The firm has a market cap of $13.20 billion, a P/E ratio of 28.16, a P/E/G ratio of 0.67 and a beta of 0.35. Neurocrine Biosciences, Inc. has a twelve month low of $105.45 and a twelve month 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 analysts’ consensus estimates of $2.36 by ($0.48). The company had revenue of $805.50 million for the quarter, compared to analysts’ expectations of $804.21 million. Neurocrine Biosciences had a return on equity of 16.48% and a net margin of 16.73%.The firm’s quarterly revenue was up 28.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.69 EPS. Equities analysts expect that Neurocrine Biosciences, Inc. will post 6.33 earnings per share for the current year.

Analysts Set New Price Targets

NBIX has been the subject of several recent analyst reports. Needham & Company LLC restated a “buy” rating and set a $185.00 target price on shares of Neurocrine Biosciences in a research report on Monday, April 6th. Morgan Stanley boosted their target price on Neurocrine Biosciences from $173.00 to $185.00 and gave the company an “equal weight” rating in a research report on Friday, April 10th. Wedbush boosted their target price on Neurocrine Biosciences from $151.00 to $166.00 and gave the company an “outperform” rating in a research report on Tuesday, April 7th. Weiss Ratings restated a “hold (c+)” rating on shares of Neurocrine Biosciences in a research report on Tuesday, April 21st. Finally, BMO Capital Markets dropped their target price on Neurocrine Biosciences from $147.00 to $140.00 and set a “market perform” rating for the company in a research report on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $180.45.

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.