An Analysis of Neurocrine Biosciences Inc. (NBIX)’s Potential Price Growth

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In a filing, Neurocrine Biosciences Inc. revealed its Chief Legal Officer Lippoldt Darin unloaded Company’s shares for reported $0.56 million on Nov 03. In the deal valued at $125.02 per share,4,518 shares were sold. As a result of this transaction, Lippoldt Darin now holds 29,234 shares worth roughly $ 3.56 million.


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Then, Cooke Julie sold 7,264 shares, generating $908,034 in total proceeds. Upon selling the shares at $125.00, the Chief Human Resources Officer now owns 15,102 shares.

Before that, BENEVICH ERIC sold 8,968 shares. Neurocrine Biosciences Inc. shares valued at $1,121,183 were divested by the Chief Commercial Officer at a price of $125.02 per share. As a result of the transaction, BENEVICH ERIC now holds 15,643 shares, worth roughly $1.91 million.

UBS initiated its Neurocrine Biosciences Inc. [NBIX] rating to a Buy in a research note published on Friday, October 11, 2022; the price target was $136. PT values the company’s stock at a premium of 10.43 to its Friday closing price. A number of analysts have revised their coverage, including Wells Fargo’s analysts, who began to cover the stock in late September with a ‘”an Equal weight”‘ rating. Piper Sandler revised its rating on March 03, 2022. It rated NBIX as “a Neutral” which previously was an “an Overweight”.

Price Performance Review of NBIX

On Friday, Neurocrine Biosciences Inc. [NASDAQ:NBIX] saw its stock fall -1.85% to $121.82. On the same session, the stock had its day’s lowest price of $119.86, but rose to a high of $124.39. Over the last five days, the stock has gained 5.41%. Neurocrine Biosciences Inc. shares have risen nearly 43.03% since the year began. Nevertheless, the stocks have risen 31.33% over the past one year. While a 52-week high of $125.25 was reached on 11/03/22, a 52-week low of $71.88 was recorded on 01/10/22. SMA at 50 days reached $108.53, while 200 days put it at $96.29. A total of 0.68 million shares were traded, compared to the trading of 1.95 million shares in the previous session.

Levels Of Support And Resistance For NBIX Stock

The 24-hour chart illustrates a support level at 119.66, which if violated will result in even more drops to 117.49. On the upside, there is a resistance level at 124.19. A further resistance level may holdings at 126.55. The Relative Strength Index (RSI) on the 14-day chart is 68.31, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 7.49, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 19.10%. Stochastics %K at 85.98% indicates the stock is a selling.

How much short interest is there in Neurocrine Biosciences Inc.?

A steep rise in short interest was recorded in Neurocrine Biosciences Inc. stocks on Jul 14, 2022, dropping by -1.13 million shares to a total of 2.6 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 3.73 million shares. There was a decline of -43.46%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 3.13% of the overall stock float, the days-to-cover ratio (short ratio) fell to 3.46.

Neurocrine Biosciences Inc. [NBIX] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 9,200,124 shares, or roughly 9.62% of the outstanding NBIX shares. In other words, the investor’s shares have risen by 182,719 from its previous 13-F filing of 9017405.0. Additionally, The Vanguard Group, Inc. increased 1.45% of its stake after which the total value it holdings stand at $931,852,447, while Janus Henderson Investors US LLC reduced -17.37% of its stake to hold $553.13 million in the firm. Over the last quarter, T. Rowe Price Associates, Inc. sold -332,483 shares of Neurocrine Biosciences Inc., while SSgA Funds Management, Inc. sold 38,490 shares. At present, Bellevue Asset Management AG is holding 2,844,305 shares valued at $302.09 million. JPMorgan Investment Management, I owned 2,258,189 shares of the company at the time of its most recent 13F filing, worth $239.84 million.

According to FactSet, Neurocrine Biosciences Inc.’s share price will average $128.93 in the next year, based on opinions of analysts polled by the firm. This is up nearly 6.36 percent from its previous closing price of $124.11. Analysts expect Neurocrine Biosciences Inc. stock to reach the higher price of $151.14, while the lowest price estimate is $101.00. However, 28 analysts have rated NBIX stock as an Overweight in their predictions for 2022.

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