Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Shares Acquired by KBC Group NV

KBC Group NV lifted its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 78.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 18,972 shares of the company's stock after acquiring an additional 8,332 shares during the period. KBC Group NV's holdings in Neurocrine Biosciences were worth $2,186,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Blair William & Co. IL grew its holdings in shares of Neurocrine Biosciences by 5.9% in the first quarter. Blair William & Co. IL now owns 8,599 shares of the company's stock valued at $1,186,000 after purchasing an additional 481 shares during the period. Vanguard Group Inc. raised its position in Neurocrine Biosciences by 2.3% in the first quarter. Vanguard Group Inc. now owns 9,930,926 shares of the company's stock valued at $1,369,673,000 after purchasing an additional 220,598 shares during the period. O Shaughnessy Asset Management LLC raised its position in Neurocrine Biosciences by 16.8% in the first quarter. O Shaughnessy Asset Management LLC now owns 3,695 shares of the company's stock valued at $510,000 after purchasing an additional 531 shares during the period. UniSuper Management Pty Ltd raised its position in Neurocrine Biosciences by 100.0% in the first quarter. UniSuper Management Pty Ltd now owns 1,400 shares of the company's stock valued at $193,000 after purchasing an additional 700 shares during the period. Finally, MQS Management LLC purchased a new stake in Neurocrine Biosciences in the first quarter valued at $551,000. Institutional investors and hedge funds own 92.59% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Piper Sandler raised shares of Neurocrine Biosciences from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $131.00 to $159.00 in a research report on Thursday, August 29th. Royal Bank of Canada lowered their price objective on shares of Neurocrine Biosciences from $136.00 to $133.00 and set a "sector perform" rating for the company in a research report on Friday, October 4th. BMO Capital Markets lowered their price objective on shares of Neurocrine Biosciences from $128.00 to $114.00 and set a "market perform" rating for the company in a research report on Thursday, October 17th. Citigroup boosted their price target on shares of Neurocrine Biosciences from $150.00 to $158.00 and gave the stock a "neutral" rating in a research note on Friday, August 2nd. Finally, HC Wainwright reiterated a "buy" rating and set a $190.00 price target on shares of Neurocrine Biosciences in a research note on Friday, November 1st. Five investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $163.91.

Neurocrine Biosciences Stock Performance

Shares of NBIX stock traded up $1.51 during mid-day trading on Tuesday, hitting $119.13. 1,092,808 shares of the stock were exchanged, compared to its average volume of 868,996. The stock's fifty day simple moving average is $118.44 and its two-hundred day simple moving average is $132.40. The stock has a market capitalization of $12.06 billion, a price-to-earnings ratio of 31.60 and a beta of 0.35. Neurocrine Biosciences, Inc. has a 12-month low of $108.14 and a 12-month high of $157.98.

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.