Algert Global LLC Takes Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Algert Global LLC acquired a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the third quarter, HoldingsChannel reports. The fund acquired 18,366 shares of the company’s stock, valued at approximately $2,116,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio increased its stake in Neurocrine Biosciences by 6.6% in the first quarter. Public Employees Retirement System of Ohio now owns 47,947 shares of the company’s stock valued at $6,613,000 after purchasing an additional 2,987 shares in the last quarter. Tidal Investments LLC increased its position in shares of Neurocrine Biosciences by 57.8% in the 1st quarter. Tidal Investments LLC now owns 9,542 shares of the company’s stock valued at $1,316,000 after buying an additional 3,497 shares in the last quarter. LBP AM SA acquired a new stake in Neurocrine Biosciences during the 1st quarter worth $910,000. Plato Investment Management Ltd acquired a new stake in Neurocrine Biosciences during the 1st quarter worth $41,000. Finally, New Covenant Trust Company N.A. bought a new position in Neurocrine Biosciences during the first quarter worth about $32,000. Institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Stock Performance

Shares of NBIX opened at $126.59 on Thursday. The firm’s 50-day simple moving average is $118.97 and its 200 day simple moving average is $131.71. The firm has a market cap of $12.82 billion, a P/E ratio of 33.94 and a beta of 0.35. Neurocrine Biosciences, Inc. has a 52 week low of $110.81 and a 52 week high of $157.98.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NBIX. Needham & Company LLC reaffirmed a “hold” rating on shares of Neurocrine Biosciences in a research report on Monday, November 11th. Citigroup raised their target price on shares of Neurocrine Biosciences from $150.00 to $158.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. HC Wainwright reissued a “buy” rating and set a $190.00 price objective on shares of Neurocrine Biosciences in a research report on Friday, November 1st. StockNews.com cut shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. increased their target price on Neurocrine Biosciences from $173.00 to $181.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Five equities research 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, the stock 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.