Taking a look at what insiders are doing to gauge the Neurocrine Biosciences Inc. (NBIX)’s direction


Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Neurocrine Biosciences Inc. shares valued at $39,032,821 were purchased by NEUROCRINE BIOSCIENCES INC on Feb 23. At $8.88 per share, NEUROCRINE BIOSCIENCES INC acquired 4,395,588 shares. The insider’s holdings grew to 8,575,316 shares worth approximately $807.02 million following the completion of this transaction.

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Also, GORMAN KEVIN CHARLES sold 2,274 shares, netting a total of over 237,185 in proceeds. Following the sale of shares at $104.30 each, the insider now holds 491,365 shares.

Before that, Cooke Julie had sold 1,328 shares from its account. In a trade valued at $137,883, the Chief Human Resources Officer traded Neurocrine Biosciences Inc. shares for $103.83 each. Upon closing the transaction, the insider’s holdings decreased to 1,328 shares, worth approximately $2.58 million.

As published in a research note from Evercore ISI on March 03, 2023, Neurocrine Biosciences Inc. [NBIX] has been rated up from an In-line to an Outperform and the price target has been revised to $130. This represents a 27.61% premium over Wednesday’s closing price. Analysts at Morgan Stanley upgraded the stock from ‘”an Equal-weight”‘ to ‘”an Overweight”‘ outlook in a report released in early February. As of November 14, 2022, Evercore ISI has decreased its “an Outperform” rating to a “an In-line” for NBIX. Earlier on October 11, 2022, UBS initiated its rating. Their recommendation was “a Buy” for NBIX stock.

Analyzing NBIX Stock Performance

On Wednesday, Neurocrine Biosciences Inc. [NASDAQ: NBIX] plunged -1.43% to $94.11. The stock’s lowest price that day was $93.38, but it reached a high of $95.62 in the same session. During the last five days, there has been a drop of approximately -3.83%. Over the course of the year, Neurocrine Biosciences Inc. shares have dropped approximately -21.21%. Shares of the company reached a 52-week high of $125.01 on 01/06/23 and a 52-week low of $93.38 on 03/15/23. A 50-day SMA is recorded $105.81, while a 200-day SMA reached $106.73. Nevertheless, trading volume fell to 0.52 million shares from 1.07 million shares the previous day.

Support And Resistance Levels for Neurocrine Biosciences Inc. (NBIX)

According to the 24-hour chart, there is a support level at 93.12, which, if violated, would cause prices to drop to 92.13. In the upper region, resistance lies at 95.36. The next price resistance is at 96.61. RSI (Relative Strength Index) is 26.54 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -4.19, which suggests the price will decrease in the coming days. Percent R is at 92.69%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Neurocrine Biosciences Inc. subject to short interest?

Stocks of Neurocrine Biosciences Inc. saw a sharp rise in short interest on Jan 12, 2023 jumping by 0.35 million shares to 2.59 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2022 was 2.24 million shares. A jump of 13.51% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.35 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.35.

Which companies own the most shares of Neurocrine Biosciences Inc. (NBIX)?

According to BlackRock Fund Advisors filings, the company currently owns 9,928,309 shares, which is about 10.28% of the total NBIX shares outstanding. The investor’s shares have appreciated by 728,185 from its previous 13-F filing of 9200124.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $949,066,121. SSgA Funds Management, Inc. reduced a -0.97% interest valued at $384.58 million while Bellevue Asset Management AG sold a -81,852 stake. A total of -2,511,196 shares of Neurocrine Biosciences Inc. were sold by Janus Henderson Investors US LLC during the quarter, and -75,700 were sold by Avidity Partners Management LP. In its current portfolio, Renaissance Technologies LLC holds 1,613,664 shares valued at $166.37 million.

In terms of Neurocrine Biosciences Inc. share price expectations, FactSet research, analysts set an average price target of $126.21 in the next 12 months, up nearly 34.58% from the previous closing price of $95.48. Analysts anticipate Neurocrine Biosciences Inc. stock to reach $150.00 by 2023, with the lowest price target being $93.00. In spite of this, 28 analysts ranked Neurocrine Biosciences Inc. stock as an Overweight at the end of 2023. On September 26, 2022, Wells Fargo assigned a price target of “an Equal weight” to the stock and initiated coverage with a $110.


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