Plato Investment Management Ltd Acquires 10,548 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Plato Investment Management Ltd increased its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 2,481.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,973 shares of the company’s stock after purchasing an additional 10,548 shares during the quarter. Plato Investment Management Ltd’s holdings in Neurocrine Biosciences were worth $1,263,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Neurocrine Biosciences by 0.8% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 11,436 shares of the company’s stock worth $1,574,000 after purchasing an additional 90 shares in the last quarter. Fifth Third Bancorp increased its position in shares of Neurocrine Biosciences by 14.7% during the 2nd quarter. Fifth Third Bancorp now owns 716 shares of the company’s stock worth $99,000 after purchasing an additional 92 shares in the last quarter. Total Clarity Wealth Management Inc. increased its position in shares of Neurocrine Biosciences by 4.3% during the 2nd quarter. Total Clarity Wealth Management Inc. now owns 2,433 shares of the company’s stock worth $335,000 after purchasing an additional 100 shares in the last quarter. Caprock Group LLC increased its position in shares of Neurocrine Biosciences by 7.0% during the 2nd quarter. Caprock Group LLC now owns 1,669 shares of the company’s stock worth $230,000 after purchasing an additional 109 shares in the last quarter. Finally, Red Spruce Capital LLC increased its position in shares of Neurocrine Biosciences by 0.8% during the 2nd quarter. Red Spruce Capital LLC now owns 16,150 shares of the company’s stock worth $2,223,000 after purchasing an additional 124 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on NBIX shares. Barclays dropped their target price on shares of Neurocrine Biosciences from $180.00 to $160.00 and set an “overweight” rating for the company in a research report on Monday, September 9th. Raymond James restated an “outperform” rating and issued a $155.00 price objective on shares of Neurocrine Biosciences in a research report on Thursday, October 10th. Cantor Fitzgerald restated an “overweight” rating and issued a $155.00 price objective on shares of Neurocrine Biosciences in a research report on Monday, September 16th. Robert W. Baird raised their price objective on shares of Neurocrine Biosciences from $157.00 to $180.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Finally, Guggenheim raised their price objective on shares of Neurocrine Biosciences from $170.00 to $180.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Five analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $163.91.

Neurocrine Biosciences Price Performance

Neurocrine Biosciences stock opened at $122.88 on Friday. The company’s 50 day simple moving average is $118.53 and its 200 day simple moving average is $132.88. Neurocrine Biosciences, Inc. has a fifty-two week low of $107.84 and a fifty-two week high of $157.98. The firm has a market capitalization of $12.44 billion, a price-to-earnings ratio of 32.94 and a beta of 0.35.

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.