Neurocrine Biosciences Inc. (NBIX) Stock Price Down 2.4%
Neurocrine Biosciences Inc. (NASDAQ:NBIX)’s share price traded down 2.4% on Wednesday . The company traded as low as $52.97 and last traded at $53.31, with a volume of 244,429 shares traded. The stock had previously closed at $54.63.
A number of equities analysts recently weighed in on the stock. HC Wainwright restated a “buy” rating on shares of Neurocrine Biosciences in a report on Friday, August 5th. Piper Jaffray Cos. restated an “overweight” rating and issued a $96.00 price objective on shares of Neurocrine Biosciences in a report on Tuesday, June 7th. Cowen and Company restated a “buy” rating and issued a $65.00 price objective on shares of Neurocrine Biosciences in a report on Friday, August 5th. Jefferies Group reiterated a “buy” rating and set a $61.00 target price on shares of Neurocrine Biosciences in a research note on Wednesday, May 25th. Finally, Leerink Swann reiterated an “outperform” rating and set a $63.00 target price on shares of Neurocrine Biosciences in a research note on Wednesday, June 1st. One investment analyst has rated the stock with a sell rating and ten have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $63.90.
The stock’s 50 day moving average price is $50.02 and its 200 day moving average price is $46.03. The firm’s market capitalization is $4.70 billion.
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In related news, insider Christopher Flint Obrien sold 12,500 shares of the firm’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $48.73, for a total transaction of $609,125.00. Following the completion of the transaction, the insider now owns 55,044 shares of the company’s stock, valued at $2,682,294.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Corinne H. Nevinny sold 5,000 shares of the firm’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $48.54, for a total transaction of $242,700.00. Following the transaction, the director now directly owns 25,555 shares of the company’s stock, valued at approximately $1,240,439.70. The disclosure for this sale can be found here. Corporate insiders own 4.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp boosted its position in Neurocrine Biosciences by 22.9% in the first quarter. State Street Corp now owns 2,682,064 shares of the company’s stock worth $106,077,000 after buying an additional 499,687 shares during the last quarter. Wexford Capital LP purchased a new position in Neurocrine Biosciences during the first quarter worth $1,069,000. M&T Bank Corp purchased a new position in Neurocrine Biosciences during the first quarter worth $262,000. Massmutual Trust Co. FSB ADV purchased a new position in Neurocrine Biosciences during the first quarter worth $189,000. Finally, BlackRock Fund Advisors boosted its position in Neurocrine Biosciences by 1.7% in the first quarter. BlackRock Fund Advisors now owns 3,223,549 shares of the company’s stock worth $127,491,000 after buying an additional 53,137 shares during the last quarter. 96.70% of the stock is owned by institutional investors.
Neurocrine Biosciences Company Profile
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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