Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Shares Sold by Martingale Asset Management L P

Martingale Asset Management L P lowered its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 11.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,311 shares of the company’s stock after selling 3,400 shares during the period. Martingale Asset Management L P’s holdings in Neurocrine Biosciences were worth $3,032,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vinva Investment Management Ltd grew its stake in Neurocrine Biosciences by 130.2% during the third quarter. Vinva Investment Management Ltd now owns 38,540 shares of the company’s stock worth $4,434,000 after buying an additional 21,795 shares during the period. FORA Capital LLC purchased a new stake in Neurocrine Biosciences during the 3rd quarter worth $1,930,000. CreativeOne Wealth LLC increased its holdings in Neurocrine Biosciences by 190.5% in the 3rd quarter. CreativeOne Wealth LLC now owns 8,408 shares of the company’s stock valued at $969,000 after purchasing an additional 5,514 shares in the last quarter. Blueshift Asset Management LLC purchased a new position in Neurocrine Biosciences in the third quarter valued at about $494,000. Finally, Bridgewater Associates LP lifted its stake in shares of Neurocrine Biosciences by 54.4% during the third quarter. Bridgewater Associates LP now owns 135,186 shares of the company’s stock worth $15,576,000 after purchasing an additional 47,638 shares in the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

Neurocrine Biosciences Stock Performance

NBIX opened at $126.75 on Friday. The firm has a market cap of $12.83 billion, a P/E ratio of 33.98 and a beta of 0.35. The business has a 50 day moving average price of $119.26 and a 200 day moving average price of $131.56. Neurocrine Biosciences, Inc. has a twelve month low of $110.95 and a twelve month high of $157.98.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Royal Bank of Canada lowered their target price on 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. BMO Capital Markets dropped their price objective 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. Jefferies Financial Group upped their target price on shares of Neurocrine Biosciences from $177.00 to $189.00 and gave the company a “buy” rating in a research note on Monday, August 19th. Piper Sandler raised 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. Finally, StockNews.com cut shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. Five investment 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. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $163.91.

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.