Jennison Associates LLC Has $112.03 Million Stock Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Jennison Associates LLC raised its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 145.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 820,694 shares of the company’s stock after buying an additional 485,894 shares during the period. Jennison Associates LLC owned about 0.81% of Neurocrine Biosciences worth $112,025,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Brooklyn Investment Group lifted its stake in shares of Neurocrine Biosciences by 99.1% in the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock valued at $32,000 after purchasing an additional 115 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Neurocrine Biosciences by 171.9% during the 3rd quarter. Blue Trust Inc. now owns 348 shares of the company’s stock worth $40,000 after purchasing an additional 220 shares in the last quarter. R Squared Ltd acquired a new stake in Neurocrine Biosciences during the fourth quarter worth $61,000. UMB Bank n.a. increased its holdings in Neurocrine Biosciences by 211.6% in the 4th quarter. UMB Bank n.a. now owns 455 shares of the company’s stock valued at $62,000 after buying an additional 309 shares during the period. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in Neurocrine Biosciences by 42.0% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 531 shares of the company’s stock valued at $72,000 after buying an additional 157 shares during the period. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Neurocrine Biosciences Stock Down 1.1 %

NASDAQ:NBIX opened at $150.10 on Tuesday. Neurocrine Biosciences, Inc. has a twelve month low of $110.95 and a twelve month high of $157.98. The company has a market cap of $15.20 billion, a P/E ratio of 40.24 and a beta of 0.33. The business has a 50 day moving average price of $136.97 and a two-hundred day moving average price of $131.42.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NBIX. BMO Capital Markets decreased their target price on shares of Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating on the stock in a research report on Thursday, October 17th. Raymond James reiterated an “outperform” rating and issued a $155.00 target price on shares of Neurocrine Biosciences in a research note on Thursday, October 10th. Barclays upped their price target on shares of Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday, December 23rd. William Blair reiterated an “outperform” rating on shares of Neurocrine Biosciences in a research report on Monday, December 16th. Finally, Wedbush reiterated an “outperform” rating and set a $148.00 price target on shares of Neurocrine Biosciences in a research report on Monday, December 16th. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $166.10.

Insider Buying and Selling

In other Neurocrine Biosciences news, insider Jude Onyia sold 2,331 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $126.29, for a total value of $294,381.99. Following the completion of the transaction, the insider now directly owns 15,449 shares in the company, valued at $1,951,054.21. This trade represents a 13.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ingrid Delaet sold 1,091 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $135.00, for a total value of $147,285.00. Following the sale, the insider now owns 2,507 shares in the company, valued at approximately $338,445. This represents a 30.32 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 214,799 shares of company stock worth $31,513,583. 4.30% of the stock is owned by insiders.

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.