Neurocrine Biosciences (NASDAQ:NBIX) Shares Up 5% – Still a Buy?

Neurocrine Biosciences, Inc. (NASDAQ:NBIX)’s share price traded up 5% during mid-day trading on Monday . The company traded as high as $133.97 and last traded at $132.98. 178,594 shares were traded during mid-day trading, a decline of 79% from the average session volume of 863,770 shares. The stock had previously closed at $126.70.

Analyst Ratings Changes

Several equities analysts recently commented on NBIX shares. Piper Sandler raised shares of Neurocrine Biosciences from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $131.00 to $159.00 in a research note on Thursday, August 29th. Royal Bank of Canada decreased their price target on shares of Neurocrine Biosciences from $136.00 to $133.00 and set a “sector perform” rating on the stock in a report on Friday, October 4th. HC Wainwright reissued a “buy” rating and set a $190.00 price objective on shares of Neurocrine Biosciences in a research note on Monday. Cantor Fitzgerald restated an “overweight” rating and set a $155.00 target price on shares of Neurocrine Biosciences in a research report on Monday, September 16th. Finally, Barclays dropped their price target on Neurocrine Biosciences from $180.00 to $160.00 and set an “overweight” rating for the company in a research report on Monday, September 9th. Five equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Neurocrine Biosciences currently has a consensus rating of “Moderate Buy” and an average price target of $165.00.

Neurocrine Biosciences Stock Performance

The company has a 50-day simple moving average of $122.66 and a two-hundred day simple moving average of $130.57. The firm has a market capitalization of $13.84 billion, a P/E ratio of 36.65 and a beta of 0.34.

Insider Buying and Selling

In other news, insider Jude Onyia sold 2,331 shares of Neurocrine Biosciences stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $126.29, for a total transaction of $294,381.99. Following the completion of the transaction, the insider now directly owns 15,449 shares in the company, valued at approximately $1,951,054.21. This trade represents a 13.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 4.30% of the stock is owned by insiders.

Institutional Trading of Neurocrine Biosciences

Several institutional investors have recently bought and sold shares of NBIX. Ashton Thomas Private Wealth LLC bought a new stake in Neurocrine Biosciences in the 2nd quarter worth about $28,000. Innealta Capital LLC bought a new stake in shares of Neurocrine Biosciences in the second quarter worth approximately $30,000. EdgeRock Capital LLC purchased a new position in shares of Neurocrine Biosciences during the second quarter valued at approximately $35,000. Blue Trust Inc. lifted its position in Neurocrine Biosciences by 171.9% during the third quarter. Blue Trust Inc. now owns 348 shares of the company’s stock valued at $40,000 after purchasing an additional 220 shares during the period. Finally, Plato Investment Management Ltd boosted its holdings in Neurocrine Biosciences by 44.1% in 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. 92.59% of the stock is owned by hedge funds and other institutional investors.

About Neurocrine Biosciences

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.