Neurocrine Biosciences, Inc. (NASDAQ:NBIX) was down 5.4% during mid-day trading on Thursday . The company traded as low as $86.18 and last traded at $86.28. Approximately 771,413 shares were traded during trading, a decline of 14% from the average daily volume of 900,456 shares. The stock had previously closed at $91.23.
A number of equities research analysts have recently issued reports on NBIX shares. Oppenheimer set a $105.00 price objective on shares of Neurocrine Biosciences and gave the company a “buy” rating in a research report on Sunday, January 6th. Stifel Nicolaus cut their price objective on shares of Neurocrine Biosciences from $115.00 to $17.07 and set a “buy” rating for the company in a research report on Wednesday, December 12th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $121.00 target price on shares of Neurocrine Biosciences in a report on Wednesday, December 12th. Needham & Company LLC set a $104.00 target price on shares of Neurocrine Biosciences and gave the stock a “buy” rating in a report on Wednesday, December 12th. Finally, Canaccord Genuity dropped their target price on shares of Neurocrine Biosciences from $111.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, December 13th. Four equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $103.48.
The firm has a market capitalization of $8.29 billion, a price-to-earnings ratio of 392.18, a price-to-earnings-growth ratio of 28.80 and a beta of 1.87. The company has a current ratio of 8.36, a quick ratio of 8.24 and a debt-to-equity ratio of 0.81.
In other Neurocrine Biosciences news, CEO Kevin Charles Gorman sold 7,614 shares of the business’s stock in a transaction on Tuesday, February 5th. The shares were sold at an average price of $88.16, for a total value of $671,250.24. Following the sale, the chief executive officer now owns 408,082 shares in the company, valued at approximately $35,976,509.12. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Kyle Gano sold 3,809 shares of the business’s stock in a transaction on Tuesday, February 5th. The stock was sold at an average price of $88.12, for a total transaction of $335,649.08. Following the completion of the sale, the insider now owns 17,595 shares in the company, valued at approximately $1,550,471.40. The disclosure for this sale can be found here. 4.30% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in NBIX. Norges Bank purchased a new stake in Neurocrine Biosciences in the 4th quarter worth $61,171,000. Orbimed Advisors LLC raised its position in shares of Neurocrine Biosciences by 258.6% during the 4th quarter. Orbimed Advisors LLC now owns 494,200 shares of the company’s stock valued at $35,291,000 after buying an additional 356,400 shares in the last quarter. Thrivent Financial for Lutherans raised its position in shares of Neurocrine Biosciences by 94.5% during the 4th quarter. Thrivent Financial for Lutherans now owns 691,851 shares of the company’s stock valued at $49,405,000 after buying an additional 336,101 shares in the last quarter. First Trust Advisors LP raised its position in shares of Neurocrine Biosciences by 27.3% during the 4th quarter. First Trust Advisors LP now owns 1,299,455 shares of the company’s stock valued at $92,794,000 after buying an additional 278,598 shares in the last quarter. Finally, Capital International Investors purchased a new stake in shares of Neurocrine Biosciences during the 3rd quarter valued at about $31,721,000.
About Neurocrine Biosciences (NASDAQ:NBIX)
Neurocrine Biosciences, Inc discovers and develops pharmaceuticals for the treatment of neurological and endocrine-related diseases and disorders in the United States. The company offers INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor (VMAT2), which is used for the treatment of movement disorders; ORILISSA, a gonadotropin-releasing hormone (GnRH) antagonist for use in women's health.
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