Primecap Management Co. CA Reduces Stock Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Primecap Management Co. CA decreased its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 1.3% during the third quarter, Holdings Channel.com reports. The fund owned 404,000 shares of the company’s stock after selling 5,290 shares during the quarter. Primecap Management Co. CA’s holdings in Neurocrine Biosciences were worth $46,549,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. 1832 Asset Management L.P. grew its stake in shares of Neurocrine Biosciences by 1,370.7% in the second quarter. 1832 Asset Management L.P. now owns 541,200 shares of the company’s stock worth $74,507,000 after purchasing an additional 504,400 shares during the last quarter. Los Angeles Capital Management LLC grew its position in shares of Neurocrine Biosciences by 639.6% in the 3rd quarter. Los Angeles Capital Management LLC now owns 420,748 shares of the company’s stock worth $48,479,000 after buying 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 second quarter. AQR Capital Management LLC now owns 1,223,055 shares of the company’s stock valued at $166,959,000 after buying an additional 228,444 shares during the period. Iron Triangle Partners LP bought a new position in shares of Neurocrine Biosciences during the first quarter valued at approximately $30,342,000. Finally, Renaissance Technologies LLC lifted its stake in Neurocrine Biosciences by 9.6% in the second quarter. Renaissance Technologies LLC now owns 2,468,146 shares of the company’s stock worth $339,790,000 after acquiring an additional 216,500 shares during the period. 92.59% of the stock is owned by institutional investors.

Neurocrine Biosciences Trading Up 1.4 %

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

Analyst Ratings Changes

Several research analysts have commented on the stock. Piper Sandler upgraded shares of Neurocrine Biosciences from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $131.00 to $159.00 in a report on Thursday, August 29th. Citigroup increased their price target on shares of Neurocrine Biosciences from $150.00 to $158.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Oppenheimer lifted their price objective on Neurocrine Biosciences from $216.00 to $219.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Needham & Company LLC reissued a “hold” rating on shares of Neurocrine Biosciences in a research report on Monday, November 11th. Finally, Jefferies Financial Group lifted their price target on Neurocrine Biosciences from $177.00 to $189.00 and gave the company a “buy” rating in a research report on Monday, August 19th. Five equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.