Generali Asset Management SPA SGR Cuts Position in Neurocrine Biosciences, Inc. $NBIX

Generali Asset Management SPA SGR decreased its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 13.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,703 shares of the company’s stock after selling 3,657 shares during the quarter. Generali Asset Management SPA SGR’s holdings in Neurocrine Biosciences were worth $3,220,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. USA Financial Formulas purchased a new stake in shares of Neurocrine Biosciences in the 4th quarter valued at approximately $25,000. Geneos Wealth Management Inc. lifted its position in shares of Neurocrine Biosciences by 143.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after purchasing an additional 135 shares during the last quarter. Golden State Wealth Management LLC lifted its position in shares of Neurocrine Biosciences by 120.5% during the 3rd quarter. Golden State Wealth Management LLC now owns 183 shares of the company’s stock worth $26,000 after purchasing an additional 100 shares during the last quarter. Eastern Bank acquired a new position in shares of Neurocrine Biosciences during the third quarter worth $27,000. Finally, Quent Capital LLC acquired a new position in shares of Neurocrine Biosciences during the third quarter worth $32,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Price Performance

Shares of NBIX opened at $152.25 on Friday. Neurocrine Biosciences, Inc. has a 1-year low of $115.66 and a 1-year high of $160.18. The stock has a market cap of $15.31 billion, a PE ratio of 23.46, a price-to-earnings-growth ratio of 1.29 and a beta of 0.34. The firm has a fifty day moving average price of $131.12 and a 200 day moving average price of $137.85.

Neurocrine Biosciences (NASDAQ:NBIX) last issued 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 19.79% and a net margin of 21.55%.The firm had revenue of $805.50 million for the quarter, compared to analysts’ expectations of $804.21 million. During the same period in the previous year, the business posted $1.69 EPS. The business’s revenue for the quarter was up 28.3% compared to the same quarter last year. As a group, equities analysts expect that Neurocrine Biosciences, Inc. will post 6.57 EPS for the current fiscal year.

Neurocrine Biosciences News Summary

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 Analysts Forecast Growth

NBIX has been the topic of a number of analyst reports. UBS Group cut their price target on Neurocrine Biosciences from $188.00 to $178.00 and set a “buy” rating on the stock in a research note on Friday, January 23rd. Wells Fargo & Company lowered their price objective on Neurocrine Biosciences from $180.00 to $175.00 and set an “overweight” rating for the company in a research report on Friday, February 13th. Wolfe Research assumed coverage on Neurocrine Biosciences in a research report on Tuesday, February 24th. They set an “outperform” rating and a $160.00 target price on the stock. Royal Bank Of Canada boosted their target price on Neurocrine Biosciences from $176.00 to $180.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Neurocrine Biosciences in a report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $184.15.

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.