Jennison Associates LLC Has $38.58 Million Stock Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Jennison Associates LLC lessened its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 32.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 334,800 shares of the company’s stock after selling 164,523 shares during the period. Jennison Associates LLC owned about 0.33% of Neurocrine Biosciences worth $38,576,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Commerce Bank increased its stake in Neurocrine Biosciences by 2.6% in the 3rd quarter. Commerce Bank now owns 4,199 shares of the company’s stock valued at $484,000 after buying an additional 108 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Neurocrine Biosciences in the third quarter valued at about $553,000. Quest Partners LLC increased its position in Neurocrine Biosciences by 674.9% in the 3rd quarter. Quest Partners LLC now owns 3,495 shares of the company’s stock worth $403,000 after purchasing an additional 3,044 shares during the last quarter. Swiss National Bank raised its position in Neurocrine Biosciences by 1.4% during the third quarter. Swiss National Bank now owns 298,700 shares of the company’s stock valued at $34,416,000 after acquiring an additional 4,100 shares in the last quarter. Finally, AM Squared Ltd bought a new stake in Neurocrine Biosciences in the third quarter worth approximately $104,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Stock Up 1.4 %

NASDAQ NBIX opened at $125.00 on Friday. The firm’s 50 day moving average is $118.48 and its 200-day moving average is $132.18. Neurocrine Biosciences, Inc. has a 12-month low of $109.77 and a 12-month high of $157.98. The company has a market capitalization of $12.66 billion, a PE ratio of 33.51 and a beta of 0.35.

Analyst Ratings Changes

A number of research firms have issued reports on NBIX. Robert W. Baird upped their price target on shares of Neurocrine Biosciences from $157.00 to $180.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Piper Sandler upgraded shares of Neurocrine Biosciences from a “neutral” rating to an “overweight” rating and increased their target price for the company from $131.00 to $159.00 in a research note on Thursday, August 29th. Citigroup lifted their target price on shares of Neurocrine Biosciences from $150.00 to $158.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Royal Bank of Canada lowered their price target on Neurocrine Biosciences from $136.00 to $133.00 and set a “sector perform” rating on the stock in a research report on Friday, October 4th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Neurocrine Biosciences in a report on Monday, November 11th. Five research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Neurocrine Biosciences has a consensus rating of “Moderate Buy” and an average target price of $163.91.

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.