Jennison Associates LLC Reduces Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Jennison Associates LLC lowered its position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 32.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 334,800 shares of the company’s stock after selling 164,523 shares during the quarter. Jennison Associates LLC’s holdings in Neurocrine Biosciences were worth $38,576,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Neurocrine Biosciences in the second quarter worth about $28,000. Innealta Capital LLC purchased a new stake in Neurocrine Biosciences in the 2nd quarter worth approximately $30,000. New Covenant Trust Company N.A. bought a new position in Neurocrine Biosciences in the 1st quarter valued at $32,000. EdgeRock Capital LLC purchased a new position in shares of Neurocrine Biosciences during the 2nd quarter valued at $35,000. Finally, Blue Trust Inc. increased its holdings in shares of Neurocrine Biosciences by 171.9% in the third quarter. Blue Trust Inc. now owns 348 shares of the company’s stock worth $40,000 after purchasing an additional 220 shares during the period. 92.59% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NBIX has been the topic of several research analyst reports. HC Wainwright restated a “buy” rating and issued a $190.00 price objective on shares of Neurocrine Biosciences in a research report on Friday, November 1st. Raymond James restated an “outperform” rating and set a $155.00 price objective on shares of Neurocrine Biosciences in a research report on Thursday, October 10th. Citigroup upped their target price on shares of Neurocrine Biosciences from $150.00 to $158.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. raised their price target on Neurocrine Biosciences from $173.00 to $181.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Neurocrine Biosciences in a report on Monday, November 11th. Five analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $163.91.

Neurocrine Biosciences Stock Up 1.4 %

Shares of Neurocrine Biosciences stock opened at $125.00 on Friday. The company has a 50 day moving average price of $118.48 and a 200 day moving average price of $132.18. The firm has a market capitalization of $12.66 billion, a P/E ratio of 33.51 and a beta of 0.35. Neurocrine Biosciences, Inc. has a 52 week low of $109.77 and a 52 week high of $157.98.

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.