Neurocrine Biosciences Inc. (NASDAQ:NBIX) shares dropped 1.5% during trading on Friday . The company traded as low as $49.23 and last traded at $49.37, with a volume of 186,184 shares. The stock had previously closed at $50.12.

NBIX has been the topic of a number of research analyst reports. Robert W. Baird reaffirmed a “buy” rating on shares of Neurocrine Biosciences in a report on Sunday, May 8th. Jefferies Group reaffirmed a “buy” rating on shares of Neurocrine Biosciences in a report on Sunday, May 8th. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $96.00 target price on shares of Neurocrine Biosciences in a report on Monday, May 16th. Leerink Swann reaffirmed an “outperform” rating and set a $63.00 target price on shares of Neurocrine Biosciences in a report on Wednesday, June 1st. Finally, HC Wainwright assumed coverage on Neurocrine Biosciences in a report on Wednesday, June 29th. They set a “buy” rating and a $80.00 target price on the stock. One analyst has rated the stock with a sell rating and ten have given a buy rating to the company’s stock. Neurocrine Biosciences currently has an average rating of “Buy” and a consensus target price of $63.90.

The firm’s market cap is $4.29 billion. The company’s 50 day moving average is $49.19 and its 200-day moving average is $44.66.

In related news, insider Malcolm Lloyd-Smith sold 9,000 shares of the business’s stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $50.00, for a total transaction of $450,000.00. Following the transaction, the insider now directly owns 9,000 shares in the company, valued at $450,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christopher Flint Obrien sold 12,500 shares of the business’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $48.73, for a total value of $609,125.00. Following the transaction, the insider now owns 55,044 shares in the company, valued at $2,682,294.12. The disclosure for this sale can be found here.

An institutional investor recently bought a new position in Neurocrine Biosciences stock. I.G. Investment Management LTD. purchased a new stake in shares of Neurocrine Biosciences Inc. (NASDAQ:NBIX) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 45,000 shares of the company’s stock, valued at approximately $2,546,000. I.G. Investment Management LTD. owned 0.05% of Neurocrine Biosciences as of its most recent filing with the SEC.

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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