Short Interest in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Declines By 25.0%

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

Wall Street Analyst Weigh In

A number of research analysts have commented on NBIX shares. Guggenheim reduced their price objective on shares of Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Morgan Stanley increased their price objective on shares of Neurocrine Biosciences from $170.00 to $185.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. UBS Group increased their price objective on shares of Neurocrine Biosciences from $162.00 to $176.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Bank of America reduced their price objective on shares of Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Finally, William Blair reiterated an “outperform” rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $166.90.

Insider Activity at Neurocrine Biosciences

In related news, CFO Matt Abernethy sold 1,283 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $152.87, for a total transaction of $196,132.21. Following the completion of the sale, the chief financial officer now directly owns 32,681 shares of the company’s stock, valued at approximately $4,995,944.47. This trade represents a 3.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ingrid Delaet sold 1,091 shares of the firm’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $135.00, for a total transaction of $147,285.00. Following the sale, the insider now directly owns 2,507 shares of the company’s stock, valued at approximately $338,445. The trade was a 30.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 236,600 shares of company stock valued at $34,348,261. Corporate insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Neurocrine Biosciences

Several large investors have recently bought and sold shares of the stock. Cetera Investment Advisers grew its stake in shares of Neurocrine Biosciences by 7.9% in the 2nd quarter. Cetera Investment Advisers now owns 7,112 shares of the company’s stock worth $979,000 after purchasing an additional 519 shares during the last quarter. CWM LLC boosted its holdings in shares of Neurocrine Biosciences by 15.1% in the third quarter. CWM LLC now owns 7,884 shares of the company’s stock worth $908,000 after buying an additional 1,035 shares during the period. Exchange Traded Concepts LLC boosted its holdings in shares of Neurocrine Biosciences by 29.3% in the third quarter. Exchange Traded Concepts LLC now owns 7,964 shares of the company’s stock worth $918,000 after buying an additional 1,803 shares during the period. Creative Planning boosted its holdings in shares of Neurocrine Biosciences by 12.3% in the third quarter. Creative Planning now owns 12,999 shares of the company’s stock worth $1,498,000 after buying an additional 1,426 shares during the period. Finally, Vontobel Holding Ltd. boosted its holdings in shares of Neurocrine Biosciences by 12.7% in the third quarter. Vontobel Holding Ltd. now owns 14,590 shares of the company’s stock worth $1,681,000 after buying an additional 1,639 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Neurocrine Biosciences Stock Down 1.6 %

Neurocrine Biosciences stock traded down $1.85 during trading hours on Friday, hitting $115.02. 1,479,784 shares of the company traded hands, compared to its average volume of 952,604. The firm has a market cap of $11.65 billion, a P/E ratio of 34.96 and a beta of 0.33. The firm’s 50-day simple moving average is $137.83 and its two-hundred day simple moving average is $130.54. Neurocrine Biosciences has a 1-year low of $110.95 and a 1-year high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last released its earnings results on Thursday, February 6th. The company reported $1.00 EPS for the quarter, missing the consensus estimate 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, equities research analysts predict that Neurocrine Biosciences will post 6.53 earnings per share for the current year.

Neurocrine Biosciences Company Profile

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.