This afternoon we watched Neurocrine Biosciences drop -4.4% to a price of $107.22 per share. The mid-cap Biotechnology company is now trading -19.66% below its average target price of $133.45. Analysts have set target prices ranging from $95.0 to $165.0 per share for Neurocrine Biosciences, and have given the stock an average rating of buy.
The stock has an average amount of shares sold short at 2.6%, and a short ratio of 3.56. The company's insiders own 1.06% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that a significant number of institutional investors are invested in the stock, with 96.4% of Neurocrine Biosciences's shares being owned by this investor type.
Institutions Invested in Neurocrine Biosciences
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2023-06-30 | Blackrock Inc. | 14% | 13,482,142 | $1,445,487,805 |
| 2023-06-30 | Vanguard Group Inc | 10% | 9,570,718 | $1,026,124,495 |
| 2023-06-30 | State Street Corporation | 4% | 3,956,499 | $424,196,025 |
| 2023-06-30 | Bellevue Group AG | 3% | 2,612,800 | $280,131,342 |
| 2023-06-30 | JP Morgan Chase & Company | 2% | 1,961,874 | $210,342,313 |
| 2023-06-30 | Janus Henderson Group PLC | 2% | 1,908,844 | $204,656,702 |
| 2023-06-30 | Morgan Stanley | 2% | 1,868,025 | $200,280,293 |
| 2023-06-30 | Armistice Capital, LLC | 2% | 1,650,000 | $176,904,743 |
| 2023-06-30 | Renaissance Technologies, LLC | 2% | 1,643,402 | $176,197,339 |
| 2023-09-30 | Bank Of New York Mellon Corporation | 2% | 1,539,392 | $165,045,907 |
Besides an analyst consensus of some upside potential, other market factors point to there being positive market sentiment on Neurocrine Biosciences.
