Verition Fund Management LLC purchased a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,325 shares of the company's stock, valued at approximately $959,000.
Several other hedge funds have also made changes to their positions in the business. 1832 Asset Management L.P. raised its position in 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 purchasing an additional 504,400 shares in the last quarter. Los Angeles Capital Management LLC raised its holdings in Neurocrine Biosciences by 639.6% in the third quarter. Los Angeles Capital Management LLC now owns 420,748 shares of the company's stock valued at $48,479,000 after acquiring an additional 363,863 shares in the last quarter. AQR Capital Management LLC lifted its stake in Neurocrine Biosciences by 23.0% in the second 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 last quarter. Renaissance Technologies LLC raised its holdings in shares of Neurocrine Biosciences by 9.6% in the 2nd quarter. Renaissance Technologies LLC now owns 2,468,146 shares of the company's stock valued at $339,790,000 after purchasing an additional 216,500 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Neurocrine Biosciences by 40.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 710,600 shares of the company's stock worth $97,828,000 after buying an additional 203,934 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company's stock.
Neurocrine Biosciences Stock Performance
NASDAQ NBIX traded up $0.98 during trading hours on Monday, hitting $129.12. 682,433 shares of the company's stock were exchanged, compared to its average volume of 869,242. The firm has a market capitalization of $13.07 billion, a P/E ratio of 34.62 and a beta of 0.34. The business's 50 day moving average is $120.61 and its 200-day moving average is $130.90. Neurocrine Biosciences, Inc. has a 12-month low of $110.95 and a 12-month high of $157.98.
Analysts Set New Price Targets
Several research firms have issued reports on NBIX. Royal Bank of Canada decreased 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 note on Friday, October 4th. Raymond James reissued an "outperform" rating and issued a $155.00 price objective on shares of Neurocrine Biosciences in a research note on Thursday, October 10th. StockNews.com downgraded Neurocrine Biosciences from a "strong-buy" rating to a "buy" rating in a research note on Friday, November 1st. BMO Capital Markets cut their price objective on 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. Finally, HC Wainwright reiterated a "buy" rating and issued a $190.00 price objective on shares of Neurocrine Biosciences in a research note on Friday, November 1st. Five research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Neurocrine Biosciences presently has a consensus rating of "Moderate Buy" and a consensus target price of $163.91.
Check Out Our Latest Analysis on Neurocrine Biosciences
Insiders Place Their Bets
In related news, insider Jude Onyia sold 2,331 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now owns 15,449 shares of the company's stock, valued at approximately $1,951,054.21. This represents a 13.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.30% of the stock is currently owned by insiders.
About Neurocrine Biosciences
(
Free Report)
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.
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