Archer Investment Corp Raises Stock Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Archer Investment Corp raised its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 37.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 740 shares of the company’s stock after acquiring an additional 200 shares during the period. Archer Investment Corp’s holdings in Neurocrine Biosciences were worth $85,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. 1832 Asset Management L.P. boosted its stake in shares of Neurocrine Biosciences by 1,370.7% in the second quarter. 1832 Asset Management L.P. now owns 541,200 shares of the company’s stock worth $74,507,000 after buying an additional 504,400 shares during the last quarter. Los Angeles Capital Management LLC boosted its position in Neurocrine Biosciences by 639.6% in the 3rd quarter. Los Angeles Capital Management LLC now owns 420,748 shares of the company’s stock worth $48,479,000 after purchasing an additional 363,863 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Neurocrine Biosciences by 23.0% during the 2nd quarter. AQR Capital Management LLC now owns 1,223,055 shares of the company’s stock worth $166,959,000 after purchasing an additional 228,444 shares during the period. Vanguard Group Inc. increased its holdings in shares of Neurocrine Biosciences by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 9,930,926 shares of the company’s stock valued at $1,369,673,000 after purchasing an additional 220,598 shares in the last quarter. Finally, Iron Triangle Partners LP purchased a new position in shares of Neurocrine Biosciences during the 1st quarter valued at approximately $30,342,000. 92.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Piper Sandler upgraded shares of Neurocrine Biosciences from a “neutral” rating to an “overweight” rating and raised their price target for the company from $131.00 to $159.00 in a research report on Thursday, August 29th. Raymond James reaffirmed an “outperform” rating and set a $155.00 target price on shares of Neurocrine Biosciences in a research note on Thursday, October 10th. Robert W. Baird boosted their price target on shares of Neurocrine Biosciences from $157.00 to $180.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Guggenheim increased their price objective on shares of Neurocrine Biosciences from $170.00 to $180.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, BMO Capital Markets reduced their price target on shares of 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. Five analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $163.91.

Neurocrine Biosciences Price Performance

Neurocrine Biosciences stock opened at $117.44 on Friday. The firm has a 50 day simple moving average of $118.56 and a 200-day simple moving average of $132.81. The stock has a market cap of $11.89 billion, a price-to-earnings ratio of 31.49 and a beta of 0.35. Neurocrine Biosciences, Inc. has a 1-year low of $107.84 and a 1-year high of $157.98.

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.