JPMorgan Chase & Co. Has $664.02 Million Stock Holdings in Neurocrine Biosciences, Inc. $NBIX

JPMorgan Chase & Co. increased its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 11.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,730,152 shares of the company’s stock after purchasing an additional 468,405 shares during the period. JPMorgan Chase & Co. owned approximately 4.74% of Neurocrine Biosciences worth $664,019,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. State of New Jersey Common Pension Fund D grew its position in shares of Neurocrine Biosciences by 2.6% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 34,865 shares of the company’s stock worth $4,894,000 after buying an additional 891 shares during the period. PNC Financial Services Group Inc. boosted its stake in Neurocrine Biosciences by 8.8% during the third quarter. PNC Financial Services Group Inc. now owns 4,768 shares of the company’s stock worth $669,000 after acquiring an additional 384 shares in the last quarter. Abich Financial Wealth Management LLC bought a new position in Neurocrine Biosciences during the third quarter worth $90,000. Ground Swell Capital LLC acquired a new stake in Neurocrine Biosciences in the third quarter worth $564,000. Finally, Savvy Advisors Inc. bought a new stake in Neurocrine Biosciences in the third quarter valued at $242,000. 92.59% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NBIX has been the topic of a number of research analyst reports. Canaccord Genuity Group increased their price objective on shares of Neurocrine Biosciences from $160.00 to $164.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Neurocrine Biosciences in a research report on Thursday, January 22nd. Truist Financial cut their price target on Neurocrine Biosciences from $169.00 to $140.00 and set a “buy” rating on the stock in a report on Tuesday. Morgan Stanley restated an “equal weight” rating and set a $175.00 price objective (up previously from $173.00) on shares of Neurocrine Biosciences in a report on Thursday, January 8th. Finally, Royal Bank Of Canada lowered their target price on Neurocrine Biosciences from $180.00 to $177.00 and set an “outperform” rating on the stock in a research report on Thursday, February 12th. Sixteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $175.84.

Neurocrine Biosciences Trading Up 2.9%

Shares of NASDAQ:NBIX opened at $127.76 on Wednesday. The stock has a market cap of $12.82 billion, a PE ratio of 27.42, a price-to-earnings-growth ratio of 0.57 and a beta of 0.31. The stock’s fifty day simple moving average is $138.98 and its two-hundred day simple moving average is $140.43. Neurocrine Biosciences, Inc. has a 1-year low of $84.23 and a 1-year high of $160.18.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results on Wednesday, February 11th. The company reported $1.88 EPS for the quarter, missing the consensus estimate of $2.36 by ($0.48). Neurocrine Biosciences had a net margin of 16.73% and a return on equity of 16.48%. The firm had revenue of $805.50 million during the quarter, compared to analysts’ expectations of $804.21 million. During the same quarter in the prior year, the company earned $1.69 EPS. The business’s revenue for the quarter was up 28.3% on a year-over-year basis. On average, sell-side analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Insider Activity

In related news, Director George J. Morrow sold 15,000 shares of Neurocrine Biosciences stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $143.37, for a total transaction of $2,150,550.00. Following the sale, the director directly owned 7,068 shares in the company, valued at approximately $1,013,339.16. This trade represents a 67.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Leslie V. Norwalk sold 1,190 shares of the business’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $155.09, for a total value of $184,557.10. Following the completion of the transaction, the director directly owned 6,239 shares in the company, valued at approximately $967,606.51. This represents a 16.02% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 61,966 shares of company stock worth $8,625,166. Corporate insiders own 4.30% of the company’s stock.

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.