Tri Ri Asset Management Corp Acquires New Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Tri Ri Asset Management Corp bought a new position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 28,088 shares of the company's stock, valued at approximately $3,236,000. Neurocrine Biosciences makes up about 1.7% of Tri Ri Asset Management Corp's holdings, making the stock its 25th biggest holding.

Several other large investors have also made changes to their positions in NBIX. Ashton Thomas Private Wealth LLC bought a new stake in Neurocrine Biosciences during the second quarter worth $28,000. Innealta Capital LLC acquired a new position in Neurocrine Biosciences in the 2nd quarter valued at approximately $30,000. EdgeRock Capital LLC acquired a new stake in shares of Neurocrine Biosciences in the second quarter valued at about $35,000. Blue Trust Inc. lifted its holdings in Neurocrine Biosciences by 171.9% in the third quarter. Blue Trust Inc. now owns 348 shares of the company's stock valued at $40,000 after buying an additional 220 shares during the period. Finally, Plato Investment Management Ltd lifted its stake in Neurocrine Biosciences by 44.1% in the second quarter. Plato Investment Management Ltd now owns 425 shares of the company's stock valued at $59,000 after buying an additional 130 shares during the period. Institutional investors own 92.59% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Cantor Fitzgerald reissued an "overweight" rating and set a $155.00 price target on shares of Neurocrine Biosciences in a research note on Monday, September 16th. Piper Sandler upgraded Neurocrine Biosciences from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $131.00 to $159.00 in a research note on Thursday, August 29th. Barclays dropped their target price on Neurocrine Biosciences from $180.00 to $160.00 and set an "overweight" rating for the company in a report on Monday, September 9th. BMO Capital Markets reduced their price target on shares of Neurocrine Biosciences from $128.00 to $114.00 and set a "market perform" rating on the stock in a research note on Thursday, October 17th. Finally, Raymond James reiterated an "outperform" rating and issued a $155.00 price target on shares of Neurocrine Biosciences in a report on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $165.18.

Neurocrine Biosciences Stock Performance

Shares of Neurocrine Biosciences stock traded down $0.09 on Friday, reaching $126.70. 777,734 shares of the company's stock were exchanged, compared to its average volume of 866,688. Neurocrine Biosciences, Inc. has a 52 week low of $110.95 and a 52 week high of $157.98. The firm's 50-day moving average is $121.49 and its two-hundred day moving average is $130.78. The company has a market capitalization of $12.83 billion, a P/E ratio of 33.97 and a beta of 0.34.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Jude Onyia sold 2,331 shares of the firm's stock in a transaction on Friday, November 29th. The shares were sold at an average price of $126.29, for a total value of $294,381.99. Following the completion of the transaction, the insider now directly owns 15,449 shares of the company's stock, valued at $1,951,054.21. This trade represents a 13.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.30% of the stock is currently owned by insiders.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, neuroendocrine, and neuropsychiatric disorders in the United States and internationally. The company's products include INGREZZA for tardive dyskinesia and chorea associated with Huntington's disease; ALKINDI for adrenal insufficiency; Efmody capsules for classic congenital adrenal hyperplasia; Orilissa tablets for endometriosis; and Oriahnn capsules to treat uterine fibroids.