HighTower Advisors LLC Has $1.10 Million Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

HighTower Advisors LLC trimmed its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 67.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,587 shares of the company’s stock after selling 19,785 shares during the period. HighTower Advisors LLC’s holdings in Neurocrine Biosciences were worth $1,104,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. 1832 Asset Management L.P. increased its holdings in Neurocrine Biosciences by 1,370.7% during the second quarter. 1832 Asset Management L.P. now owns 541,200 shares of the company’s stock worth $74,507,000 after buying an additional 504,400 shares during the last quarter. Los Angeles Capital Management LLC increased its stake in shares of Neurocrine Biosciences by 639.6% during the 3rd quarter. Los Angeles Capital Management LLC now owns 420,748 shares of the company’s stock worth $48,479,000 after purchasing an additional 363,863 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Neurocrine Biosciences by 23.0% during the 2nd quarter. AQR Capital Management LLC now owns 1,223,055 shares of the company’s stock worth $166,959,000 after purchasing 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 during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in Neurocrine Biosciences by 40.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 710,600 shares of the company’s stock valued at $97,828,000 after purchasing an additional 203,934 shares during the last quarter. Institutional investors own 92.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NBIX. William Blair restated an “outperform” rating on shares of Neurocrine Biosciences in a research note on Monday. Piper Sandler raised Neurocrine Biosciences from a “neutral” rating to an “overweight” rating and raised their price target for the company from $131.00 to $159.00 in a report on Thursday, August 29th. Barclays decreased their price objective 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. Royal Bank of Canada reduced their target price on shares of Neurocrine Biosciences from $136.00 to $133.00 and set a “sector perform” rating for the company in a report on Friday, October 4th. Finally, Raymond James reissued an “outperform” rating and issued a $155.00 price target on shares of Neurocrine Biosciences in a report on Thursday, October 10th. 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’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $165.00.

Neurocrine Biosciences Price Performance

NASDAQ NBIX opened at $136.69 on Wednesday. The business has a fifty day moving average price of $122.16 and a two-hundred day moving average price of $130.57. The stock has a market capitalization of $13.84 billion, a PE ratio of 35.67 and a beta of 0.34. Neurocrine Biosciences, Inc. has a fifty-two week low of $110.95 and a fifty-two week high of $157.98.

Insider Transactions at Neurocrine Biosciences

In related news, insider Jude Onyia sold 2,331 shares of the company’s 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 transaction, the insider now directly owns 15,449 shares in the company, valued at $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 is available through this hyperlink. 4.30% of the stock is owned by insiders.

Neurocrine Biosciences Company 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.