Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Position Trimmed by MetLife Investment Management LLC

MetLife Investment Management LLC reduced its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 1.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 56,707 shares of the company’s stock after selling 895 shares during the quarter. MetLife Investment Management LLC’s holdings in Neurocrine Biosciences were worth $6,534,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Ashton Thomas Private Wealth LLC bought a new position in Neurocrine Biosciences in the second quarter worth about $28,000. Innealta Capital LLC bought a new position in shares of Neurocrine Biosciences during the second quarter valued at approximately $30,000. EdgeRock Capital LLC acquired a new stake in shares of Neurocrine Biosciences during the 2nd quarter worth approximately $35,000. Blue Trust Inc. lifted its holdings in shares of Neurocrine Biosciences by 171.9% in the 3rd quarter. Blue Trust Inc. now owns 348 shares of the company’s stock worth $40,000 after purchasing an additional 220 shares during the last quarter. Finally, Plato Investment Management Ltd boosted its position in Neurocrine Biosciences by 44.1% during the 2nd quarter. Plato Investment Management Ltd now owns 425 shares of the company’s stock valued at $59,000 after purchasing an additional 130 shares during the period. 92.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on NBIX shares. Royal Bank of Canada dropped their target price on Neurocrine Biosciences from $136.00 to $133.00 and set a “sector perform” rating on the stock in a research report on Friday, October 4th. Robert W. Baird increased their price objective 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. Raymond James reissued an “outperform” rating and set a $155.00 target price on shares of Neurocrine Biosciences in a research note on Thursday, October 10th. Barclays dropped their price target on shares of Neurocrine Biosciences from $180.00 to $160.00 and set an “overweight” rating on the stock in a research note on Monday, September 9th. Finally, JPMorgan Chase & Co. boosted their price objective on Neurocrine Biosciences from $173.00 to $181.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Five 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’s stock. According to MarketBeat, Neurocrine Biosciences has an average rating of “Moderate Buy” and an average target price of $163.91.

Neurocrine Biosciences Stock Performance

Neurocrine Biosciences stock opened at $126.75 on Friday. Neurocrine Biosciences, Inc. has a twelve month low of $110.95 and a twelve month high of $157.98. The firm has a market cap of $12.83 billion, a PE ratio of 33.98 and a beta of 0.35. The firm’s 50 day moving average price is $119.26 and its two-hundred day moving average price is $131.61.

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.