Federated Hermes Inc. Acquires 43,249 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Posted by on Aug 14th, 2023

Federated Hermes Inc. grew its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX – Free Report) by 116.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 80,461 shares of the company’s stock after purchasing an additional 43,249 shares during the quarter. Federated Hermes Inc. owned approximately 0.08% of Neurocrine Biosciences worth $8,144,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. First Republic Investment Management Inc. grew its position in Neurocrine Biosciences by 1.0% during the 4th quarter. First Republic Investment Management Inc. now owns 11,069 shares of the company’s stock worth $1,322,000 after purchasing an additional 113 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its position in Neurocrine Biosciences by 1.9% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,430 shares of the company’s stock worth $627,000 after purchasing an additional 120 shares during the last quarter. Securian Asset Management Inc. grew its position in Neurocrine Biosciences by 1.4% during the 4th quarter. Securian Asset Management Inc. now owns 8,834 shares of the company’s stock worth $1,055,000 after purchasing an additional 121 shares during the last quarter. Parallel Advisors LLC grew its position in Neurocrine Biosciences by 14.6% during the 4th quarter. Parallel Advisors LLC now owns 964 shares of the company’s stock worth $115,000 after purchasing an additional 123 shares during the last quarter. Finally, Diversified Trust Co grew its position in Neurocrine Biosciences by 6.6% during the 1st quarter. Diversified Trust Co now owns 2,316 shares of the company’s stock worth $234,000 after purchasing an additional 143 shares during the last quarter. Institutional investors own 91.56% of the company’s stock.

Neurocrine Biosciences Price Performance

Shares of NBIX stock opened at $105.22 on Monday. The firm has a market cap of $10.27 billion, a PE ratio of 60.82, a price-to-earnings-growth ratio of 1.11 and a beta of 0.50. The company has a 50-day moving average of $97.70 and a two-hundred day moving average of $99.18. Neurocrine Biosciences, Inc. has a 1-year low of $89.04 and a 1-year high of $129.29.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on NBIX shares. TheStreet raised shares of Neurocrine Biosciences from a “c” rating to a “b-” rating in a research report on Tuesday, August 1st. Cantor Fitzgerald upped their price objective on shares of Neurocrine Biosciences from $127.00 to $135.00 in a report on Wednesday, August 2nd. Guggenheim raised shares of Neurocrine Biosciences from a “neutral” rating to a “buy” rating and set a $145.00 price objective on the stock in a report on Thursday, May 4th. Canaccord Genuity Group upped their price objective on shares of Neurocrine Biosciences from $130.00 to $132.00 and gave the company a “buy” rating in a report on Wednesday, August 2nd. Finally, Citigroup dropped their price objective on shares of Neurocrine Biosciences from $127.00 to $122.00 in a report on Thursday, May 4th. Five analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $126.59.

Get Our Latest Stock Analysis on Neurocrine Biosciences

Neurocrine Biosciences Company Profile

(Free Report)

Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, endocrine, and psychiatric disorders. The company's portfolio includes treatments for tardive dyskinesia, Parkinson's disease, endometriosis, and uterine fibroids, as well as clinical programs in various therapeutic areas.

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Institutional Ownership by Quarter for Neurocrine Biosciences (NASDAQ:NBIX)

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