Victory Capital Management Inc. Grows Stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Victory Capital Management Inc. raised its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 48.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 204,205 shares of the company’s stock after purchasing an additional 66,662 shares during the quarter. Victory Capital Management Inc.’s holdings in Neurocrine Biosciences were worth $23,529,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Aigen Investment Management LP purchased a new position in Neurocrine Biosciences in the third quarter valued at about $685,000. GSA Capital Partners LLP increased its position in shares of Neurocrine Biosciences by 441.3% during the third quarter. GSA Capital Partners LLP now owns 8,682 shares of the company’s stock worth $1,000,000 after acquiring an additional 7,078 shares during the last quarter. Los Angeles Capital Management LLC increased its position in shares of Neurocrine Biosciences by 639.6% during the third quarter. Los Angeles Capital Management LLC now owns 420,748 shares of the company’s stock worth $48,479,000 after acquiring an additional 363,863 shares during the last quarter. Crossmark Global Holdings Inc. increased its position in shares of Neurocrine Biosciences by 16.5% during the third quarter. Crossmark Global Holdings Inc. now owns 8,487 shares of the company’s stock worth $978,000 after acquiring an additional 1,204 shares during the last quarter. Finally, Sigma Planning Corp purchased a new stake in shares of Neurocrine Biosciences during the third quarter worth about $230,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

Neurocrine Biosciences Stock Performance

NASDAQ NBIX opened at $117.62 on Tuesday. Neurocrine Biosciences, Inc. has a twelve month low of $108.14 and a twelve month high of $157.98. The stock has a market cap of $11.91 billion, a price-to-earnings ratio of 32.04 and a beta of 0.35. The firm’s 50 day moving average price is $118.50 and its two-hundred day moving average price is $132.55.

Analyst Ratings Changes

A number of analysts have recently issued reports on NBIX shares. Piper Sandler raised Neurocrine Biosciences from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $131.00 to $159.00 in a research report on Thursday, August 29th. Citigroup lifted their price target on Neurocrine Biosciences from $150.00 to $158.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Needham & Company LLC reiterated a “hold” rating on shares of Neurocrine Biosciences in a research note on Monday, November 11th. Barclays decreased their price target on 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, BMO Capital Markets decreased their price target on Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating for the company in a research note on Thursday, October 17th. 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 company’s stock. According to MarketBeat.com, Neurocrine Biosciences currently has a consensus rating of “Moderate Buy” and a consensus price target of $163.91.

About Neurocrine Biosciences

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.