Braidwell LP Has $105.73 Million Stock Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Braidwell LP raised its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 20.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 917,674 shares of the company’s stock after acquiring an additional 158,665 shares during the quarter. Neurocrine Biosciences makes up 3.0% of Braidwell LP’s portfolio, making the stock its 8th largest holding. Braidwell LP’s holdings in Neurocrine Biosciences were worth $105,734,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NBIX. Tidal Investments LLC increased its stake in shares of Neurocrine Biosciences by 57.8% in the first 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. Plato Investment Management Ltd acquired a new stake in shares of Neurocrine Biosciences in the first quarter valued at $41,000. Virtu Financial LLC acquired a new stake in shares of Neurocrine Biosciences in the first quarter valued at $581,000. Swedbank AB acquired a new stake in shares of Neurocrine Biosciences in the first quarter valued at $1,933,000. Finally, DekaBank Deutsche Girozentrale increased its position in Neurocrine Biosciences by 67.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 116,223 shares of the company’s stock worth $15,894,000 after purchasing an additional 46,627 shares during the period. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on NBIX. Citigroup lifted their price objective on Neurocrine Biosciences from $150.00 to $158.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. BMO Capital Markets decreased their target price on Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating for the company in a research report on Thursday, October 17th. Piper Sandler upgraded Neurocrine Biosciences from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $131.00 to $159.00 in a research report on Thursday, August 29th. HC Wainwright restated a “buy” rating and set a $190.00 target price on shares of Neurocrine Biosciences in a research report on Friday, November 1st. Finally, Jefferies Financial Group boosted their target price on Neurocrine Biosciences from $177.00 to $189.00 and gave the stock 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 issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $163.91.

Neurocrine Biosciences Stock Performance

NASDAQ NBIX opened at $126.59 on Friday. Neurocrine Biosciences, Inc. has a 52 week low of $110.81 and a 52 week high of $157.98. The stock has a market capitalization of $12.82 billion, a price-to-earnings ratio of 33.94 and a beta of 0.35. The stock’s 50 day moving average price is $119.09 and its two-hundred day moving average price is $131.67.

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.