AlphaCentric Advisors LLC Raises Stock Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

AlphaCentric Advisors LLC boosted its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 221.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,500 shares of the company's stock after purchasing an additional 15,500 shares during the quarter. Neurocrine Biosciences comprises approximately 1.9% of AlphaCentric Advisors LLC's holdings, making the stock its 6th largest position. AlphaCentric Advisors LLC's holdings in Neurocrine Biosciences were worth $2,592,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. 1832 Asset Management L.P. raised its stake in shares of Neurocrine Biosciences by 1,370.7% in the 2nd quarter. 1832 Asset Management L.P. now owns 541,200 shares of the company's stock valued at $74,507,000 after buying an additional 504,400 shares in the last quarter. AQR Capital Management LLC raised its holdings 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 buying an additional 228,444 shares in the last quarter. Vanguard Group Inc. boosted its stake in Neurocrine Biosciences by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 9,930,926 shares of the company's stock valued at $1,369,673,000 after buying an additional 220,598 shares in the last quarter. Iron Triangle Partners LP bought a new position in shares of Neurocrine Biosciences during the first quarter valued at $30,342,000. Finally, Renaissance Technologies LLC boosted its position in Neurocrine Biosciences by 9.6% in the second quarter. Renaissance Technologies LLC now owns 2,468,146 shares of the company's stock valued at $339,790,000 after buying an additional 216,500 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on NBIX shares. Barclays cut their target price on shares of Neurocrine Biosciences from $180.00 to $160.00 and set an "overweight" rating for the company in a research note on Monday, September 9th. StockNews.com lowered Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a research note on Friday. Oppenheimer upped their price target on shares of Neurocrine Biosciences from $216.00 to $219.00 and gave the stock an "outperform" rating in a research report on Friday, August 2nd. Guggenheim boosted their target price on shares of Neurocrine Biosciences from $170.00 to $180.00 and gave the stock a "buy" rating in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. raised their price target on shares of Neurocrine Biosciences from $173.00 to $181.00 and gave the company an "overweight" rating in a report on Wednesday, August 7th. Five analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $163.91.

Insider Activity

In related news, Director William H. Rastetter sold 14,250 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $146.69, for a total value of $2,090,332.50. Following the sale, the director now owns 37,491 shares in the company, valued at approximately $5,499,554.79. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Neurocrine Biosciences news, CFO Matt Abernethy sold 14,100 shares of the company's stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $150.38, for a total transaction of $2,120,358.00. Following the completion of the sale, the chief financial officer now directly owns 31,528 shares in the company, valued at $4,741,180.64. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William H. Rastetter sold 14,250 shares of the business's stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $146.69, for a total transaction of $2,090,332.50. Following the sale, the director now directly owns 37,491 shares in the company, valued at approximately $5,499,554.79. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,063 shares of company stock valued at $7,023,330 over the last three months. Insiders own 4.30% of the company's stock.

Neurocrine Biosciences Trading Up 0.8 %

Shares of NBIX traded up $0.98 during midday trading on Tuesday, reaching $121.51. The stock had a trading volume of 573,437 shares, compared to its average volume of 863,134. The firm has a 50 day simple moving average of $119.13 and a 200-day simple moving average of $133.41. The firm has a market cap of $12.30 billion, a PE ratio of 32.44 and a beta of 0.35. Neurocrine Biosciences, Inc. has a one year low of $103.63 and a one year high of $157.98.

About Neurocrine Biosciences

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.