Neurocrine Biosciences (NASDAQ:NBIX) Stock Price Passes Above 200 Day Moving Average – Here’s What Happened

Neurocrine Biosciences, Inc. (NASDAQ:NBIX)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $130.75 and traded as high as $138.85. Neurocrine Biosciences shares last traded at $136.50, with a volume of 689,088 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on NBIX shares. Wedbush reaffirmed an “outperform” rating and issued a $148.00 price objective on shares of Neurocrine Biosciences in a research report on Monday, December 16th. Raymond James reiterated an “outperform” rating and issued a $155.00 price objective on shares of Neurocrine Biosciences in a research note on Thursday, October 10th. William Blair restated an “outperform” rating on shares of Neurocrine Biosciences in a research report on Monday, December 16th. StockNews.com lowered Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 1st. Finally, BMO Capital Markets lowered their price objective 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. Five equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $166.29.

Neurocrine Biosciences Trading Up 0.2 %

The firm has a market capitalization of $13.98 billion, a PE ratio of 37.02 and a beta of 0.33. The firm’s fifty day moving average price is $127.67 and its 200 day moving average price is $130.80.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Jude Onyia sold 2,331 shares of the business’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 sale, the insider now owns 15,449 shares of the company’s stock, valued at $1,951,054.21. The trade was a 13.11 % decrease in their ownership of the stock. The sale 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 stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $135.00, for a total transaction of $147,285.00. Following the sale, the insider now owns 2,507 shares in the company, valued at approximately $338,445. This trade represents a 30.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Neurocrine Biosciences

A number of hedge funds have recently modified their holdings of the business. Ashton Thomas Private Wealth LLC purchased a new position in Neurocrine Biosciences in the 2nd quarter valued at $28,000. Blue Trust Inc. increased its holdings in Neurocrine Biosciences by 171.9% in the third quarter. Blue Trust Inc. now owns 348 shares of the company’s stock valued at $40,000 after buying an additional 220 shares in the last quarter. Plato Investment Management Ltd raised its holdings in Neurocrine Biosciences by 44.1% during the second quarter. Plato Investment Management Ltd now owns 425 shares of the company’s stock worth $59,000 after purchasing an additional 130 shares during the last quarter. Truvestments Capital LLC purchased a new stake in shares of Neurocrine Biosciences in the 3rd quarter worth about $63,000. Finally, True Wealth Design LLC grew its position in shares of Neurocrine Biosciences by 11,740.0% in the third quarter. True Wealth Design LLC now owns 592 shares of the company’s stock valued at $68,000 after purchasing an additional 587 shares during the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

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.