Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Short Interest Update

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) was the target of a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 2,400,000 shares, a decline of 25.0% from the January 15th total of 3,200,000 shares. Based on an average trading volume of 1,120,000 shares, the days-to-cover ratio is presently 2.1 days.

Neurocrine Biosciences Price Performance

Shares of NBIX stock traded down $2.25 during mid-day trading on Friday, hitting $114.63. The stock had a trading volume of 280,709 shares, compared to its average volume of 1,307,853. Neurocrine Biosciences has a fifty-two week low of $110.95 and a fifty-two week high of $157.98. The firm has a market cap of $11.61 billion, a PE ratio of 34.79 and a beta of 0.33. The company’s 50-day simple moving average is $138.28 and its 200-day simple moving average is $130.92.

Neurocrine Biosciences (NASDAQ:NBIX) last released its earnings results on Thursday, February 6th. The company reported $1.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.62). Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.45%. On average, analysts expect that Neurocrine Biosciences will post 6.53 EPS for the current year.

Analysts Set New Price Targets

NBIX has been the subject of several recent research reports. Piper Sandler reaffirmed an “overweight” rating and set a $160.00 price objective on shares of Neurocrine Biosciences in a research note on Monday, December 23rd. Wedbush lowered their price objective on shares of Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Barclays upped their price objective on shares of Neurocrine Biosciences from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, December 23rd. BMO Capital Markets lowered their price objective on shares of Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating for the company in a research note on Thursday, October 17th. Finally, Bank of America lowered their price objective on shares of Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $166.90.

Insider Buying and Selling at Neurocrine Biosciences

In related news, insider Jude Onyia sold 2,331 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $126.29, for a total value of $294,381.99. Following the completion of the transaction, the insider now directly owns 15,449 shares in the company, valued at approximately $1,951,054.21. The trade was a 13.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kyle Gano sold 980 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $118.39, for a total transaction of $116,022.20. Following the completion of the transaction, the chief executive officer now owns 137,658 shares of the company’s stock, valued at $16,297,330.62. This trade represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 226,647 shares of company stock valued at $33,186,271 in the last 90 days. 4.30% of the stock is currently owned by company insiders.

Institutional Trading of Neurocrine Biosciences

A number of hedge funds have recently bought and sold shares of NBIX. Stifel Financial Corp lifted its position in Neurocrine Biosciences by 24.2% in the fourth quarter. Stifel Financial Corp now owns 22,676 shares of the company’s stock worth $3,095,000 after purchasing an additional 4,425 shares during the period. OneDigital Investment Advisors LLC boosted its holdings in Neurocrine Biosciences by 2.1% during the fourth quarter. OneDigital Investment Advisors LLC now owns 4,215 shares of the company’s stock worth $575,000 after buying an additional 87 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in Neurocrine Biosciences by 368.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,580 shares of the company’s stock worth $1,444,000 after buying an additional 8,323 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its holdings in Neurocrine Biosciences by 84.6% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 56,120 shares of the company’s stock worth $7,661,000 after buying an additional 25,720 shares during the last quarter. Finally, Trajan Wealth LLC bought a new position in Neurocrine Biosciences during the fourth quarter worth about $213,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

About Neurocrine Biosciences

Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, neuroendocrine, and neuropsychiatric disorders in the United States and internationally. The company’s products include INGREZZA for tardive dyskinesia and chorea associated with Huntington’s disease; ALKINDI for adrenal insufficiency; Efmody capsules for classic congenital adrenal hyperplasia; Orilissa tablets for endometriosis; and Oriahnn capsules to treat uterine fibroids.