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

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) 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.

Analysts Set New Price Targets

Several brokerages have recently commented on NBIX. Piper Sandler reaffirmed an “overweight” rating and set a $160.00 target price on shares of Neurocrine Biosciences in a report on Monday, December 23rd. BMO Capital Markets reduced their target price on Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating for the company in a report on Thursday, October 17th. Barclays upped their target price on Neurocrine Biosciences from $160.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, December 23rd. William Blair reaffirmed an “outperform” rating on shares of Neurocrine Biosciences in a report on Monday, December 16th. Finally, Wedbush reaffirmed an “outperform” rating and set a $148.00 target price on shares of Neurocrine Biosciences in a report on Monday, December 16th. Five 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $166.29.

Neurocrine Biosciences Trading Down 0.4 %

The firm has a 50-day simple moving average of $127.22 and a two-hundred day simple moving average of $130.75. The company has a market capitalization of $13.82 billion, a price-to-earnings ratio of 36.60 and a beta of 0.34.

Insider Activity

In other news, insider Jude Onyia sold 2,331 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $126.29, for a total transaction of $294,381.99. Following the transaction, the insider now owns 15,449 shares of the company’s stock, valued at approximately $1,951,054.21. This represents a 13.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ingrid Delaet sold 1,091 shares of the stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $135.00, for a total value of $147,285.00. Following the transaction, the insider now directly 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. 4.30% of the stock is currently owned by insiders.

Institutional Trading of Neurocrine Biosciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NBIX. Ashton Thomas Private Wealth LLC acquired a new stake in Neurocrine Biosciences in the 2nd quarter valued at approximately $28,000. Blue Trust Inc. grew its holdings in Neurocrine Biosciences by 171.9% in the 3rd quarter. Blue Trust Inc. now owns 348 shares of the company’s stock valued at $40,000 after buying an additional 220 shares during the last quarter. Plato Investment Management Ltd grew its holdings in Neurocrine Biosciences by 44.1% in the 2nd quarter. Plato Investment Management Ltd now owns 425 shares of the company’s stock valued at $59,000 after buying an additional 130 shares during the last quarter. Truvestments Capital LLC acquired a new stake in Neurocrine Biosciences in the 3rd quarter valued at approximately $63,000. Finally, True Wealth Design LLC grew its holdings in Neurocrine Biosciences by 11,740.0% in the 3rd quarter. True Wealth Design LLC now owns 592 shares of the company’s stock valued at $68,000 after buying an additional 587 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

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.