Neurocrine Biosciences (NASDAQ:NBIX) Stock Price Crosses Above 200 Day Moving Average – Time to Sell?

Neurocrine Biosciences, Inc. (NASDAQ:NBIX)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on NBIX shares. Barclays lifted their target price on Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday, December 23rd. Royal Bank of Canada lowered their price target on Neurocrine Biosciences from $136.00 to $133.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. StockNews.com lowered Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. Cantor Fitzgerald reissued an “overweight” rating and issued a $155.00 price objective on shares of Neurocrine Biosciences in a report on Monday, September 16th. Finally, Wedbush reiterated an “outperform” rating and set a $148.00 price objective on shares of Neurocrine Biosciences in a research note on Monday, December 16th. Five equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $166.29.

Neurocrine Biosciences Stock Performance

The firm has a fifty day moving average price of $127.67 and a 200 day moving average price of $130.80. The firm has a market capitalization of $13.98 billion, a price-to-earnings ratio of 37.02 and a beta of 0.33.

Insider Buying and Selling

In other news, insider Jude Onyia sold 2,331 shares of the company’s stock in a transaction 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 completion of the sale, the insider now owns 15,449 shares in the company, valued at $1,951,054.21. This represents a 13.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Ingrid Delaet sold 1,091 shares of Neurocrine Biosciences 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 completion of the transaction, the insider now directly 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 currently owned by company insiders.

Hedge Funds Weigh In On Neurocrine Biosciences

Large investors have recently modified their holdings of the stock. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Neurocrine Biosciences during the second quarter worth $28,000. Blue Trust Inc. increased its position in Neurocrine Biosciences by 171.9% during the third quarter. Blue Trust Inc. now owns 348 shares of the company’s stock worth $40,000 after acquiring an additional 220 shares during the period. Plato Investment Management Ltd boosted its stake in shares of Neurocrine Biosciences by 44.1% in the second 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 period. Truvestments Capital LLC bought a new position in shares of Neurocrine Biosciences in the third quarter worth $63,000. Finally, True Wealth Design LLC boosted its position in shares of Neurocrine Biosciences by 11,740.0% during the 3rd quarter. True Wealth Design LLC now owns 592 shares of the company’s stock worth $68,000 after acquiring an additional 587 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

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.