Archer Investment Corp Acquires 200 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Archer Investment Corp lifted its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 37.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund 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 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NBIX. Empowered Funds LLC boosted its stake in Neurocrine Biosciences by 681.7% during the third quarter. Empowered Funds LLC now owns 62,052 shares of the company’s stock worth $7,150,000 after buying an additional 54,114 shares during the period. Sheaff Brock Investment Advisors LLC boosted its stake in shares of Neurocrine Biosciences by 13.6% during the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 2,238 shares of the company’s stock worth $258,000 after purchasing an additional 268 shares during the period. CIBC Asset Management Inc boosted its stake in shares of Neurocrine Biosciences by 5.6% during the 3rd quarter. CIBC Asset Management Inc now owns 3,591 shares of the company’s stock worth $414,000 after purchasing an additional 191 shares during the period. Impax Asset Management Group plc grew its holdings in Neurocrine Biosciences by 70.0% during the 3rd quarter. Impax Asset Management Group plc now owns 85,000 shares of the company’s stock valued at $9,794,000 after purchasing an additional 35,000 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. lifted its stake in Neurocrine Biosciences by 2.7% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,302 shares of the company’s stock worth $496,000 after purchasing an additional 113 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Price Performance

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

Analyst Ratings Changes

A number of research analysts have recently commented on NBIX shares. Citigroup upped their target price on Neurocrine Biosciences from $150.00 to $158.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Jefferies Financial Group lifted their target price on Neurocrine Biosciences from $177.00 to $189.00 and gave the company a “buy” rating in a research report on Monday, August 19th. Robert W. Baird upped their target price on Neurocrine Biosciences from $157.00 to $180.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. StockNews.com lowered shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. boosted their price target on shares of Neurocrine Biosciences from $173.00 to $181.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $163.91.

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.