Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Position Trimmed by Jennison Associates LLC

Jennison Associates LLC cut its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 32.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 334,800 shares of the company's stock after selling 164,523 shares during the quarter. Jennison Associates LLC owned about 0.33% of Neurocrine Biosciences worth $38,576,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Renaissance Technologies LLC lifted its holdings in shares of Neurocrine Biosciences by 9.6% during the second quarter. Renaissance Technologies LLC now owns 2,468,146 shares of the company's stock worth $339,790,000 after purchasing an additional 216,500 shares during the period. AQR Capital Management LLC lifted its stake in shares of Neurocrine Biosciences by 23.0% in the 2nd quarter. AQR Capital Management LLC now owns 1,223,055 shares of the company's stock worth $166,959,000 after acquiring an additional 228,444 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of 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 acquiring an additional 13,069 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Neurocrine Biosciences by 40.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 710,600 shares of the company's stock worth $97,828,000 after acquiring an additional 203,934 shares during the period. Finally, 1832 Asset Management L.P. raised its holdings in Neurocrine Biosciences by 1,370.7% during the second quarter. 1832 Asset Management L.P. now owns 541,200 shares of the company's stock worth $74,507,000 after purchasing an additional 504,400 shares in the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

Neurocrine Biosciences Stock Performance

Shares of NBIX stock traded down $0.20 during mid-day trading on Friday, hitting $124.80. 545,909 shares of the stock traded hands, compared to its average volume of 871,533. The firm has a market cap of $12.64 billion, a price-to-earnings ratio of 33.51 and a beta of 0.35. The company's 50-day simple moving average is $118.55 and its 200-day simple moving average is $132.13. Neurocrine Biosciences, Inc. has a twelve month low of $110.52 and a twelve month high of $157.98.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Robert W. Baird boosted their target price on Neurocrine Biosciences from $157.00 to $180.00 and gave the stock an "outperform" rating in a research report on Friday, August 2nd. Royal Bank of Canada dropped their price objective on Neurocrine Biosciences from $136.00 to $133.00 and set a "sector perform" rating on the stock in a report on Friday, October 4th. Citigroup increased their price objective on Neurocrine Biosciences from $150.00 to $158.00 and gave the stock a "neutral" rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. boosted their target price on shares of Neurocrine Biosciences from $173.00 to $181.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 7th. Finally, Guggenheim increased their price target on shares of Neurocrine Biosciences from $170.00 to $180.00 and gave the company a "buy" rating in a report on Friday, August 2nd. Five equities research 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 company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $163.91.

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.