Neurocrine Biosciences (NASDAQ:NBIX) Trading 5% Higher – Here’s What Happened

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) shares shot 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 traded hands 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.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on NBIX shares. Needham & Company LLC reissued a “hold” rating on shares of Neurocrine Biosciences in a research note on Monday, November 11th. StockNews.com downgraded Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st. Piper Sandler upgraded shares of Neurocrine Biosciences from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $131.00 to $159.00 in a report on Thursday, August 29th. William Blair restated an “outperform” rating on shares of Neurocrine Biosciences in a research note on Monday. Finally, Raymond James restated an “outperform” rating and issued a $155.00 price objective on shares of Neurocrine Biosciences in a report on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $165.00.

Neurocrine Biosciences Stock Up 2.7 %

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

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Jude Onyia sold 2,331 shares of Neurocrine Biosciences stock in a transaction 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 transaction, the insider now directly owns 15,449 shares of the company’s stock, valued at $1,951,054.21. The trade was a 13.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.30% of the stock is currently owned by insiders.

Institutional Trading of Neurocrine Biosciences

A number of hedge funds have recently bought and sold shares of NBIX. State Street Corp lifted its holdings in Neurocrine Biosciences by 11.7% during the third quarter. State Street Corp now owns 5,148,293 shares of the company’s stock valued at $593,186,000 after purchasing an additional 539,936 shares during the last quarter. 1832 Asset Management L.P. boosted its holdings in Neurocrine Biosciences by 1,370.7% in the 2nd quarter. 1832 Asset Management L.P. now owns 541,200 shares of the company’s stock worth $74,507,000 after buying an additional 504,400 shares during the period. Los Angeles Capital Management LLC grew its stake in Neurocrine Biosciences by 639.6% in the 3rd quarter. Los Angeles Capital Management LLC now owns 420,748 shares of the company’s stock valued at $48,479,000 after buying an additional 363,863 shares in the last quarter. AQR Capital Management LLC raised its holdings in Neurocrine Biosciences by 23.0% during the 2nd quarter. AQR Capital Management LLC now owns 1,223,055 shares of the company’s stock valued at $166,959,000 after acquiring an additional 228,444 shares during the period. Finally, Renaissance Technologies LLC lifted its position in shares of Neurocrine Biosciences by 9.6% during the second quarter. Renaissance Technologies LLC now owns 2,468,146 shares of the company’s stock worth $339,790,000 after acquiring an additional 216,500 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors.

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.