Geode Capital Management LLC Increases Stock Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Geode Capital Management LLC grew its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 2.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,859,232 shares of the company's stock after purchasing an additional 39,610 shares during the period. Geode Capital Management LLC owned about 1.84% of Neurocrine Biosciences worth $213,773,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of NBIX. Sequoia Financial Advisors LLC purchased a new stake in shares of Neurocrine Biosciences in the second quarter valued at about $207,000. Wealth Enhancement Advisory Services LLC grew its position in Neurocrine Biosciences by 34.0% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 6,357 shares of the company's stock valued at $875,000 after acquiring an additional 1,613 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in Neurocrine Biosciences by 6.6% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 2,710 shares of the company's stock worth $373,000 after buying an additional 168 shares during the period. Pallas Capital Advisors LLC raised its stake in shares of Neurocrine Biosciences by 26.4% in the second quarter. Pallas Capital Advisors LLC now owns 3,098 shares of the company's stock valued at $447,000 after acquiring an additional 647 shares in the last quarter. Finally, Summit Global Investments boosted its stake in shares of Neurocrine Biosciences by 56.8% in the 2nd quarter. Summit Global Investments now owns 77,601 shares of the company's stock valued at $10,683,000 after buying an additional 28,124 shares during the period. 92.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on NBIX shares. Jefferies Financial Group upped their price objective on Neurocrine Biosciences from $177.00 to $189.00 and gave the stock a "buy" rating in a research report on Monday, August 19th. HC Wainwright reiterated a "buy" rating and issued a $190.00 target price on shares of Neurocrine Biosciences in a research note on Monday. BMO Capital Markets dropped 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. Piper Sandler raised Neurocrine Biosciences from a "neutral" rating to an "overweight" rating and raised their target price for the company from $131.00 to $159.00 in a report on Thursday, August 29th. Finally, Wedbush restated an "outperform" rating and issued a $148.00 price target on shares of Neurocrine Biosciences in a report on Monday. Five research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $165.00.

Insider Activity

In related news, insider Jude Onyia sold 2,331 shares of Neurocrine Biosciences stock in a transaction on Friday, November 29th. The shares were sold at an average price of $126.29, for a total transaction of $294,381.99. Following the transaction, the insider now owns 15,449 shares in the company, valued at approximately $1,951,054.21. The trade was a 13.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 4.30% of the company's stock.

Neurocrine Biosciences Stock Performance

Shares of NBIX traded up $6.35 during trading hours on Monday, hitting $133.05. The stock had a trading volume of 1,651,043 shares, compared to its average volume of 869,945. The company's fifty day simple moving average is $121.75 and its 200 day simple moving average is $130.59. Neurocrine Biosciences, Inc. has a 12-month low of $110.95 and a 12-month high of $157.98. The firm has a market cap of $13.47 billion, a P/E ratio of 35.79 and a beta of 0.34.

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.