Could Neurocrine Biosciences, Inc. (NBIX) Increase Even More? The Stock Formed Bullish Double Top Pattern

December 7, 2017 - By Darrin Black

Investors sentiment increased to 1.25 in 2017 Q2. Its up 0.22, from 1.03 in 2017Q1. It improved, 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.
State Common Retirement Fund has invested 0.02% in Neurocrine Biosciences, Inc. (NASDAQ:NBIX). Sei Co holds 0.02% or 106,389 shares in its portfolio. Shanda Asset Mgmt Holdg reported 0.07% stake. Tower Research Cap Limited Liability Corp (Trc) holds 0% or 311 shares in its portfolio. Opus Point Prns Management Ltd Liability Corporation owns 0.22% invested in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) for 5,175 shares. Axa reported 90,886 shares or 0.02% of all its holdings. Wells Fargo & Mn has 825,985 shares for 0.01% of their portfolio. Pnc Fincl Ser Group Inc owns 6,200 shares or 0% of their US portfolio. Prudential Financial Inc holds 5,270 shares or 0% of its portfolio. Tiaa Cref Inv Ltd Liability Corp owns 329,035 shares. Group One Trading L P reported 532 shares. 33,905 were accumulated by Voya Inv Management Ltd Liability Corp. Citadel Advsr Llc owns 16,552 shares. Great West Life Assurance Can invested in 0% or 10,258 shares. Citigroup Inc reported 0% stake.

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 EPS, up 94.12 % or $0.48 from last year’s $-0.51 per share. After $-0.13 actual EPS 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. BMO Capital Markets maintained Neurocrine Biosciences, Inc. (NASDAQ:NBIX) on Tuesday, October 3 with “Buy” rating. The rating was maintained by Jefferies with “Buy” on Monday, September 4. Leerink Swann maintained the stock with “Outperform” rating in Thursday, November 2 report. Piper Jaffray maintained Neurocrine Biosciences, Inc. (NASDAQ:NBIX) rating on Wednesday, October 25. Piper Jaffray has “Buy” rating and $76.0 target. As per Thursday, November 2, the company rating was maintained by H.C. Wainwright. Oppenheimer upgraded the stock to “Outperform” rating in Friday, January 27 report. The firm has “Buy” rating given on Friday, October 27 by Cowen & Co. The firm earned “Buy” rating on Friday, October 20 by BMO Capital Markets. Piper Jaffray maintained the stock with “Overweight” rating in Thursday, October 8 report. As per Friday, September 15, the company rating was maintained by Needham.

More notable recent Neurocrine Biosciences, Inc. (NASDAQ:NBIX) news were published by: Prnewswire.com which released: “Neurocrine Biosciences to Present at the Jefferies 2017 London Healthcare …” on November 08, 2017, also Seekingalpha.com with their article: “Buy Neurocrine, But At Cheaper Prices” published on November 09, 2017, Prnewswire.com published: “Neurocrine Biosciences to Present New Long-Term Data Evaluating INGREZZA® for …” on November 29, 2017. More interesting news about Neurocrine Biosciences, Inc. (NASDAQ:NBIX) were released by: Prnewswire.com and their article: “Neurocrine Biosciences Presents Long-term Data Analyses from Open-label KINECT …” published on December 04, 2017 as well as Prnewswire.com‘s news article titled: “Neurocrine Biosciences Appoints Matt Abernethy as Chief Financial Officer” with publication date: November 20, 2017.

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