First Horizon Advisors Inc. Boosts Stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

First Horizon Advisors Inc. grew its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 21.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,007 shares of the company’s stock after acquiring an additional 176 shares during the quarter. First Horizon Advisors Inc.’s holdings in Neurocrine Biosciences were worth $116,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of NBIX. Renaissance Technologies LLC increased its position in Neurocrine Biosciences by 9.6% during the 2nd quarter. Renaissance Technologies LLC now owns 2,468,146 shares of the company’s stock worth $339,790,000 after purchasing an additional 216,500 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Neurocrine Biosciences by 23.0% in the 2nd quarter. AQR Capital Management LLC now owns 1,223,055 shares of the company’s stock valued at $166,959,000 after acquiring an additional 228,444 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Neurocrine Biosciences by 1.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 934,404 shares of the company’s stock valued at $128,639,000 after acquiring an additional 13,069 shares during the period. Allspring Global Investments Holdings LLC boosted its position 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 purchasing an additional 203,934 shares during the period. Finally, 1832 Asset Management L.P. boosted its position in Neurocrine Biosciences by 1,370.7% during the 2nd 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 period. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Neurocrine Biosciences Price Performance

Neurocrine Biosciences stock opened at $125.65 on Friday. Neurocrine Biosciences, Inc. has a 12 month low of $110.52 and a 12 month high of $157.98. The company has a fifty day moving average price of $118.62 and a two-hundred day moving average price of $132.02. The company has a market cap of $12.72 billion, a PE ratio of 33.69 and a beta of 0.35.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. JPMorgan Chase & Co. boosted their price objective on Neurocrine Biosciences from $173.00 to $181.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. StockNews.com cut Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st. Guggenheim lifted their price objective on shares of Neurocrine Biosciences from $170.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Barclays decreased their target price on shares of Neurocrine Biosciences from $180.00 to $160.00 and set an “overweight” rating for the company in a research note on Monday, September 9th. Finally, 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. Five investment 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target 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.