Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Position Boosted by Plato Investment Management Ltd

Plato Investment Management Ltd raised its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 2,481.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,973 shares of the company's stock after buying an additional 10,548 shares during the period. Plato Investment Management Ltd's holdings in Neurocrine Biosciences were worth $1,263,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Ashton Thomas Private Wealth LLC acquired a new position in shares of Neurocrine Biosciences during the 2nd quarter worth approximately $28,000. Innealta Capital LLC acquired a new position in Neurocrine Biosciences in the second quarter valued at about $30,000. New Covenant Trust Company N.A. acquired a new stake in shares of Neurocrine Biosciences during the first quarter valued at about $32,000. EdgeRock Capital LLC purchased a new stake in shares of Neurocrine Biosciences in the 2nd quarter valued at approximately $35,000. Finally, Blue Trust Inc. lifted its holdings in shares of Neurocrine Biosciences by 171.9% in the 3rd quarter. Blue Trust Inc. now owns 348 shares of the company's stock worth $40,000 after acquiring an additional 220 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Barclays reduced their target price on shares of Neurocrine Biosciences from $180.00 to $160.00 and set an "overweight" rating on the stock in a report on Monday, September 9th. Piper Sandler upgraded shares of Neurocrine Biosciences from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $131.00 to $159.00 in a research note on Thursday, August 29th. Raymond James reaffirmed an "outperform" rating and set a $155.00 price objective on shares of Neurocrine Biosciences in a research report on Thursday, October 10th. BMO Capital Markets decreased their price target on Neurocrine Biosciences from $128.00 to $114.00 and set a "market perform" rating for the company in a report on Thursday, October 17th. Finally, Robert W. Baird increased their price objective on Neurocrine Biosciences from $157.00 to $180.00 and gave the company an "outperform" rating in a report on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $163.91.

Neurocrine Biosciences Trading Down 4.4 %

NBIX stock traded down $5.44 during trading hours on Friday, hitting $117.44. 1,249,305 shares of the stock traded hands, compared to its average volume of 867,191. Neurocrine Biosciences, Inc. has a one year low of $107.84 and a one year high of $157.98. The stock has a 50-day simple moving average of $118.56 and a 200 day simple moving average of $132.81. The company has a market cap of $11.89 billion, a P/E ratio of 31.49 and a beta of 0.35.

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.