Vinva Investment Management Ltd Increases Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Vinva Investment Management Ltd lifted its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 130.2% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 38,540 shares of the company’s stock after buying an additional 21,795 shares during the period. Vinva Investment Management Ltd’s holdings in Neurocrine Biosciences were worth $4,434,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NBIX. FORA Capital LLC purchased a new position in Neurocrine Biosciences in the third quarter valued at approximately $1,930,000. CreativeOne Wealth LLC lifted its stake in Neurocrine Biosciences by 190.5% in the third quarter. CreativeOne Wealth LLC now owns 8,408 shares of the company’s stock valued at $969,000 after purchasing an additional 5,514 shares during the last quarter. Blueshift Asset Management LLC purchased a new position in Neurocrine Biosciences in the third quarter valued at approximately $494,000. Bridgewater Associates LP lifted its stake in Neurocrine Biosciences by 54.4% in the third quarter. Bridgewater Associates LP now owns 135,186 shares of the company’s stock valued at $15,576,000 after purchasing an additional 47,638 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in Neurocrine Biosciences by 23.9% in the third quarter. BNP Paribas Financial Markets now owns 533,324 shares of the company’s stock valued at $61,450,000 after purchasing an additional 102,715 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Stock Down 1.0 %

NASDAQ NBIX opened at $126.59 on Friday. The company has a 50-day simple moving average of $119.09 and a two-hundred day simple moving average of $131.67. Neurocrine Biosciences, Inc. has a 12-month low of $110.81 and a 12-month high of $157.98. The firm has a market cap of $12.82 billion, a price-to-earnings ratio of 33.94 and a beta of 0.35.

Analyst Upgrades and Downgrades

NBIX has been the topic of several recent research reports. Barclays dropped their target price on Neurocrine Biosciences from $180.00 to $160.00 and set an “overweight” rating on the stock in a research report on Monday, September 9th. Citigroup increased their target price on Neurocrine Biosciences from $150.00 to $158.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Oppenheimer increased their target price on Neurocrine Biosciences from $216.00 to $219.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Jefferies Financial Group increased 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. Finally, Piper Sandler upgraded Neurocrine Biosciences from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $131.00 to $159.00 in a research report on Thursday, August 29th. Five investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Neurocrine Biosciences currently has an average rating of “Moderate Buy” and a consensus 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.