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Wells Fargo upgrades Neurocrine Biosciences, Inc. (NBIX) rating to an Overweight

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Neurocrine Biosciences, Inc.’s filing revealed that its Chief Regulatory Officer Delaet Ingrid unloaded Company’s shares for reported $38370.0 on May 06 ’24. In the deal valued at $140.55 per share,273 shares were sold. As a result of this transaction, Delaet Ingrid now holds 7,507 shares worth roughly $1.03 million.

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Then, BENEVICH ERIC sold 19,818 shares, generating $2,643,020 in total proceeds. Upon selling the shares at $133.36, the Chief Commercial Officer now owns 40,778 shares.

Before that, Delaet Ingrid sold 272 shares. Neurocrine Biosciences, Inc. shares valued at $37,346 were divested by the Chief Regulatory Officer at a price of $137.30 per share. As a result of the transaction, Delaet Ingrid now holds 7,507 shares, worth roughly $1.03 million.

Wells Fargo upgraded its Neurocrine Biosciences, Inc. [NBIX] rating to an Overweight from a an Equal weight in a research note published on April 24, 2024; the price target was increased to $170 from $140. Deutsche Bank began covering NBIX with “Buy” recommendation on December 12, 2023.

Price Performance Review of NBIX

On Friday, Neurocrine Biosciences, Inc. [NASDAQ:NBIX] saw its stock fall -2.12% to $136.70. Over the last five days, the stock has lost -2.85%. Neurocrine Biosciences, Inc. shares have risen nearly 3.75% since the year began. Nevertheless, the stocks have risen 41.31% over the past one year. While a 52-week high of $148.37 was reached on 03/21/24, a 52-week low of $89.04 was recorded on 02/07/24. SMA at 50 days reached $137.88, while 200 days put it at $123.49. A total of 0.68 million shares were traded, compared to the trading of 0.48 million shares in the previous session.

Levels Of Support And Resistance For NBIX Stock

The 24-hour chart illustrates a support level at 134.87, which if violated will result in even more drops to 133.03. On the upside, there is a resistance level at 139.77. A further resistance level may holdings at 142.83. The Relative Strength Index (RSI) on the 14-day chart is 46.90, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.05, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 84.78%. Stochastics %K at 44.24% indicates the stock is a holding.

The most recent change occurred on August 21, 2023 when Mizuho resumed its ‘”a Neutral”‘ rating for the stock and retained the price target to $113.

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