AM Squared Ltd Makes New Investment in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

AM Squared Ltd acquired a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 900 shares of the company’s stock, valued at approximately $104,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NBIX. 1832 Asset Management L.P. increased its holdings in Neurocrine Biosciences by 1,370.7% during the 2nd quarter. 1832 Asset Management L.P. now owns 541,200 shares of the company’s stock worth $74,507,000 after purchasing an additional 504,400 shares in the last quarter. Los Angeles Capital Management LLC increased its holdings in Neurocrine Biosciences by 639.6% during 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 increased its holdings in 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 in the last quarter. Vanguard Group Inc. increased its holdings in Neurocrine Biosciences by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 9,930,926 shares of the company’s stock worth $1,369,673,000 after purchasing an additional 220,598 shares in the last quarter. Finally, Iron Triangle Partners LP bought a new stake in Neurocrine Biosciences during the 1st quarter worth approximately $30,342,000. 92.59% of the stock is owned by institutional investors.

Analysts Set New Price Targets

NBIX has been the subject of a number of recent research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $155.00 target price on shares of Neurocrine Biosciences in a report on Monday, September 16th. JPMorgan Chase & Co. upped their target price on Neurocrine Biosciences from $173.00 to $181.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Barclays reduced their target price on Neurocrine Biosciences from $180.00 to $160.00 and set an “overweight” rating for the company in a report on Monday, September 9th. BMO Capital Markets reduced their target price on Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating for the company in a report on Thursday, October 17th. Finally, Raymond James reaffirmed an “outperform” rating and issued a $155.00 target price on shares of Neurocrine Biosciences in a report on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $163.91.

Neurocrine Biosciences Price Performance

NASDAQ:NBIX opened at $117.44 on Friday. The company has a market cap of $11.89 billion, a P/E ratio of 31.49 and a beta of 0.35. The stock’s fifty day moving average price is $118.50 and its two-hundred day moving average price is $132.66. Neurocrine Biosciences, Inc. has a 1 year low of $107.84 and a 1 year high of $157.98.

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.