Neurocrine Biosciences Inc. (NBIX) Trading 2.7% Higher
Neurocrine Biosciences Inc. (NASDAQ:NBIX) traded up 2.7% during mid-day trading on Thursday . The stock traded as high as $49.80 and last traded at $49.77, with a volume of 228,912 shares trading hands. The stock had previously closed at $48.46.
Several equities research analysts recently issued reports on the company. HC Wainwright reiterated a “buy” rating on shares of Neurocrine Biosciences in a report on Friday, August 5th. Piper Jaffray Cos. restated an “overweight” rating and set a $96.00 price target on shares of Neurocrine Biosciences in a report on Tuesday, June 7th. Cowen and Company restated a “buy” rating and set a $65.00 price target on shares of Neurocrine Biosciences in a report on Friday, August 5th. JPMorgan Chase & Co. restated a “buy” rating on shares of Neurocrine Biosciences in a report on Wednesday, May 4th. Finally, Jefferies Group restated a “buy” rating and set a $61.00 price target on shares of Neurocrine Biosciences in a report on Wednesday, May 25th. One investment analyst has rated the stock with a sell rating and ten have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $63.90.
The stock has a 50-day moving average of $49.00 and a 200-day moving average of $44.62. The firm’s market capitalization is $4.35 billion.
In related news, Director Corinne H. Nevinny sold 5,000 shares of Neurocrine Biosciences stock in a transaction on Monday, August 8th. The stock was sold at an average price of $48.54, for a total value of $242,700.00. Following the transaction, the director now owns 25,555 shares in the company, valued at $1,240,439.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christopher Flint Obrien sold 12,500 shares of Neurocrine Biosciences stock in a transaction on Monday, August 15th. The shares were sold at an average price of $48.73, for a total value of $609,125.00. Following the completion of the transaction, the insider now owns 55,044 shares in the company, valued at approximately $2,682,294.12. The disclosure for this sale can be found here.
A hedge fund recently bought a new stake in Neurocrine Biosciences stock. I.G. Investment Management LTD. acquired a new stake in shares of Neurocrine Biosciences Inc. (NASDAQ:NBIX) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 45,000 shares of the company’s stock, valued at approximately $2,546,000. I.G. Investment Management LTD. owned about 0.05% of Neurocrine Biosciences at the end of the most recent reporting period.
Neurocrine Biosciences, Inc is engaged in the development of pharmaceutical products focused on neurological and endocrine-based diseases and disorders. The Company’s two lead late-stage clinical programs are Elagolix, a gonadotropin-releasing hormone (GnRH) antagonist for women’s health that is partnered with AbbVie Inc (AbbVie), and NBI-98854 (valbenazine), a vesicular monoamine transporter 2 (VMAT2) inhibitor for the treatment of movement disorders.
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