Neurocrine Biosciences (NBIX) has been under a strong bear grip, hence the stock is down -2.27% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 0.42% in the past 1 week. The stock has risen by 0.39% in the past week indicating that the buyers are active at lower levels, but the stock is down -1.9% in the past 4 weeks.
Neurocrine Biosciences Inc. is up 1.42% in the last 3-month period. Year-to-Date the stock performance stands at -14.14%. The stock has recorded a 20-day Moving Average of 1.54% and the 50-Day Moving Average is 2.35%.
Neurocrine Biosciences (NASDAQ:NBIX): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $47.74 and $47.35 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $48.61. The buying momentum continued till the end and the stock did not give up its gains. It closed at $48.57, notching a gain of 1.17% for the day. The total traded volume was 548,250 . The stock had closed at $48.01 on the previous day.
Also, H.C. Wainwright initiates coverage on Neurocrine Biosciences (NASDAQ:NBIX). H.C. Wainwright has a Buy rating on the shares. As per the latest report, the brokerage house announces the price target to $80 per share. The rating by the firm was issued on June 29, 2016.
Neurocrine Biosciences, Inc. is engaged in the development of pharmaceutical products focused on neurological and endocrine based diseases and disorders. The Companys two lead late-stage clinical programs are elagolix, a gonadotropin releasing hormone (GnRH) antagonist for womens health that is partnered with AbbVie Inc. (AbbVie), and a vesicular monoamine transporter 2 (VMAT2) inhibitor for the treatment of movement disorders. elagolix is in clinical trials for the treatment of Endometriosis and Uterine Fibroids. VMAT2 (NBI-98854) is a VMAT2 inhibitor in clinical trials for the treatment of tardive dyskinesia. Corticotropin-Releasing Factor (CRF) receptor antagonist (NBI-77860) is indicated for the treatment of Classic Congenital Adrenal Hyperplasia. NBI-77860 is a selective, orally-active, non-peptide CRF receptor antagonist.