What’s Propelling Neurocrine Biosciences, Inc. (NBIX) to Increase? The Stock Formed a Bullish Double Top Pattern

December 7, 2017 - By Clifton Ray

Investors sentiment increased to 1.25 in 2017 Q2. Its up 0.22, from 1.03 in 2017Q1. It is positive, as 33 investors sold Neurocrine Biosciences, Inc. shares while 59 reduced holdings. 44 funds opened positions while 71 raised stakes. 91.92 million shares or 11.33% more from 82.57 million shares in 2017Q1 were reported.
Independent Port Consultants owns 0.04% invested in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) for 2,210 shares. Ellington Group Inc holds 17,100 shares or 0.11% of its portfolio. Stephens Ar accumulated 4,500 shares or 0.01% of the stock. Shell Asset Mgmt holds 0.01% or 11,612 shares. Emerald Advisers Pa holds 0.19% of its portfolio in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) for 100,844 shares. 111,826 are held by Mutual Of America Capital Mngmt Ltd Liability Corporation. Tower Research Ltd Liability Com (Trc) reported 311 shares. Glenmede Communication Na holds 600 shares or 0% of its portfolio. Alpha Cubed Invs Ltd Llc has invested 0.28% in Neurocrine Biosciences, Inc. (NASDAQ:NBIX). Putnam has invested 0.02% in Neurocrine Biosciences, Inc. (NASDAQ:NBIX). Dekabank Deutsche Girozentrale holds 0.04% or 120,500 shares in its portfolio. Grandfield And Dodd Lc holds 6,130 shares. Macquarie Gp has 0.06% invested in Neurocrine Biosciences, Inc. (NASDAQ:NBIX). Woodstock Corp has invested 0.15% in Neurocrine Biosciences, Inc. (NASDAQ:NBIX). Bnp Paribas Arbitrage Sa holds 72,370 shares or 0.01% of its portfolio.

The chart of Neurocrine Biosciences, Inc. (NBIX) shows a double top with $77.58 target or 7.00 % above today’s $72.50 share price. The 9 months chart pattern indicates low risk for the $6.42B company. It was reported on Dec, 7 by Finviz.com. If the $77.58 price target is reached, the company will be worth $449.12M more. Double tops are rare but powerful chart patterns.

The stock increased 3.85% or $2.69 during the last trading session, reaching $72.5. About 519,820 shares traded. Neurocrine Biosciences, Inc. (NASDAQ:NBIX) has risen 12.51% since December 7, 2016 and is uptrending. It has underperformed by 4.19% the S&P500.

Analysts await Neurocrine Biosciences, Inc. (NASDAQ:NBIX) to report earnings on February, 13. They expect $-0.03 earnings per share, up 94.12 % or $0.48 from last year’s $-0.51 per share. After $-0.13 actual earnings per share reported by Neurocrine Biosciences, Inc. for the previous quarter, Wall Street now forecasts -76.92 % EPS growth.

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Ratings Coverage

Among 12 analysts covering Neurocrine Biosci (NASDAQ:NBIX), 12 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Neurocrine Biosci had 38 analyst reports since August 18, 2015 according to SRatingsIntel. As per Tuesday, October 10, the company rating was maintained by Leerink Swann. The company was maintained on Tuesday, November 14 by Oppenheimer. The rating was initiated by H.C. Wainwright with “Buy” on Wednesday, June 29. Leerink Swann maintained it with “Outperform” rating and $71.0 target in Monday, October 12 report. H.C. Wainwright maintained Neurocrine Biosciences, Inc. (NASDAQ:NBIX) on Friday, August 4 with “Buy” rating. The firm has “Buy” rating given on Friday, July 21 by BMO Capital Markets. Deutsche Bank initiated the shares of NBIX in report on Thursday, November 3 with “Buy” rating. Needham initiated Neurocrine Biosciences, Inc. (NASDAQ:NBIX) rating on Tuesday, October 18. Needham has “Buy” rating and $62 target. The firm earned “Outperform” rating on Friday, January 27 by Oppenheimer. The stock of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) has “Buy” rating given on Tuesday, July 11 by H.C. Wainwright.

More notable recent Neurocrine Biosciences, Inc. (NASDAQ:NBIX) news were published by: Prnewswire.com which released: “Neurocrine Biosciences Appoints Matt Abernethy as Chief Financial Officer” on November 20, 2017, also Prnewswire.com with their article: “Neurocrine Biosciences to Present New Long-Term Data Evaluating INGREZZA® for …” published on November 29, 2017, Prnewswire.com published: “Neurocrine Biosciences to Present at the Jefferies 2017 London Healthcare …” on November 08, 2017. More interesting news about Neurocrine Biosciences, Inc. (NASDAQ:NBIX) were released by: Gurufocus.com and their article: “Neurocrine Biosciences to Present at the BMO Capital Markets 2017 …” published on December 07, 2017 as well as Prnewswire.com‘s news article titled: “Neurocrine Biosciences to Present at the 29th Annual Piper Jaffray Healthcare …” with publication date: November 21, 2017.

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