Advisors Asset Management Inc. Boosts Stock Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Advisors Asset Management Inc. raised its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 13.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,576 shares of the company's stock after buying an additional 4,549 shares during the quarter. Advisors Asset Management Inc.'s holdings in Neurocrine Biosciences were worth $4,445,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of NBIX. Renaissance Technologies LLC lifted its position in shares of Neurocrine Biosciences by 9.6% during the 2nd quarter. Renaissance Technologies LLC now owns 2,468,146 shares of the company's stock worth $339,790,000 after buying an additional 216,500 shares during the last quarter. AQR Capital Management LLC raised its position in Neurocrine Biosciences by 23.0% in the second quarter. AQR Capital Management LLC now owns 1,223,055 shares of the company's stock valued at $166,959,000 after purchasing an additional 228,444 shares during the last quarter. Bank of New York Mellon Corp raised its position in Neurocrine Biosciences by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 934,404 shares of the company's stock valued at $128,639,000 after purchasing an additional 13,069 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Neurocrine Biosciences by 40.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 710,600 shares of the company's stock valued at $97,828,000 after purchasing an additional 203,934 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its position in Neurocrine Biosciences by 1,370.7% in the second quarter. 1832 Asset Management L.P. now owns 541,200 shares of the company's stock valued at $74,507,000 after purchasing an additional 504,400 shares during the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

Neurocrine Biosciences Trading Up 0.5 %

Shares of NASDAQ NBIX traded up $0.65 during mid-day trading on Friday, hitting $125.65. The company had a trading volume of 1,206,791 shares, compared to its average volume of 1,123,394. The company has a market capitalization of $12.72 billion, a price-to-earnings ratio of 33.69 and a beta of 0.35. Neurocrine Biosciences, Inc. has a 1 year low of $110.52 and a 1 year high of $157.98. The stock's 50-day moving average price is $118.62 and its 200-day moving average price is $132.02.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. StockNews.com downgraded Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a research report on Friday, November 1st. Barclays lowered their price objective on Neurocrine Biosciences from $180.00 to $160.00 and set an "overweight" rating for the company in a research report on Monday, September 9th. BMO Capital Markets decreased their target price on Neurocrine Biosciences from $128.00 to $114.00 and set a "market perform" rating for the company in a research note on Thursday, October 17th. Raymond James reaffirmed an "outperform" rating and set a $155.00 target price on shares of Neurocrine Biosciences in a research note on Thursday, October 10th. Finally, Citigroup raised their target price on Neurocrine Biosciences from $150.00 to $158.00 and gave the stock a "neutral" rating in a research note on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $163.91.

Neurocrine Biosciences 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.