Neurocrine Biosciences (NBIX) Trading Down 5.4%

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.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings results on Tuesday, February 5th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.14 by $0.05. The business had revenue of $131.49 million for the quarter, compared to analysts’ expectations of $132.32 million. Neurocrine Biosciences had a net margin of 4.68% and a return on equity of 5.06%. The business’s quarterly revenue was up 39.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.07 EPS. On average, equities analysts predict that Neurocrine Biosciences, Inc. will post 0.13 earnings per share for the current year.

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.

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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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