Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Short Interest Up 23.9% in April
by Renee Jackson · The Cerbat GemNeurocrine Biosciences, Inc. (NASDAQ:NBIX – Get Free Report) was the recipient of a large growth in short interest during the month of April. As of April 15th, there was short interest totaling 5,644,452 shares, a growth of 23.9% from the March 31st total of 4,557,132 shares. Based on an average trading volume of 1,160,869 shares, the short-interest ratio is presently 4.9 days. Currently, 5.9% of the company’s shares are short sold.
Neurocrine Biosciences Stock Performance
NBIX traded up $0.11 during trading on Friday, hitting $131.78. 680,071 shares of the stock were exchanged, compared to its average volume of 1,145,315. The firm has a 50 day simple moving average of $130.25 and a 200 day simple moving average of $137.73. The firm has a market cap of $13.25 billion, a price-to-earnings ratio of 28.28, a P/E/G ratio of 0.69 and a beta of 0.34. Neurocrine Biosciences has a 1 year low of $107.96 and a 1 year high of $160.18.
Neurocrine Biosciences (NASDAQ:NBIX – Get Free Report) last released its quarterly earnings data on Wednesday, February 11th. The company reported $1.88 EPS for the quarter, missing the consensus estimate of $2.36 by ($0.48). Neurocrine Biosciences had a return on equity of 16.48% and a net margin of 16.73%.The firm had revenue of $805.50 million for the quarter, compared to analysts’ expectations of $804.21 million. During the same quarter in the previous year, the business earned $1.69 earnings per share. The company’s revenue for the quarter was up 28.3% compared to the same quarter last year. As a group, equities analysts anticipate that Neurocrine Biosciences will post 6.33 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of brokerages recently issued reports on NBIX. Wolfe Research began coverage on Neurocrine Biosciences in a research note on Tuesday, February 24th. They set an “outperform” rating and a $160.00 price target for the company. Leerink Partners raised their price target on Neurocrine Biosciences from $160.00 to $170.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 22nd. Truist Financial reduced their price objective on Neurocrine Biosciences from $169.00 to $140.00 and set a “buy” rating on the stock in a report on Tuesday, February 17th. Morgan Stanley raised their price objective on Neurocrine Biosciences from $173.00 to $185.00 and gave the stock an “equal weight” rating in a report on Friday, April 10th. Finally, Wall Street Zen upgraded Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 25th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Neurocrine Biosciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $180.45.
Get Our Latest Stock Report on Neurocrine Biosciences
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. AlTi Global Inc. grew its holdings in shares of Neurocrine Biosciences by 1.0% during the third quarter. AlTi Global Inc. now owns 6,828 shares of the company’s stock worth $959,000 after buying an additional 70 shares during the last quarter. Huntington National Bank grew its holdings in shares of Neurocrine Biosciences by 12.6% during the fourth quarter. Huntington National Bank now owns 678 shares of the company’s stock worth $96,000 after buying an additional 76 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Neurocrine Biosciences by 0.7% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 11,112 shares of the company’s stock worth $1,560,000 after buying an additional 77 shares during the last quarter. Perigon Wealth Management LLC grew its holdings in shares of Neurocrine Biosciences by 3.1% during the fourth quarter. Perigon Wealth Management LLC now owns 2,590 shares of the company’s stock worth $367,000 after buying an additional 78 shares during the last quarter. Finally, Motley Fool Asset Management LLC grew its holdings in shares of Neurocrine Biosciences by 4.8% during the fourth quarter. Motley Fool Asset Management LLC now owns 1,693 shares of the company’s stock worth $240,000 after buying an additional 78 shares during the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.
Neurocrine Biosciences Company Profile
Neurocrine Biosciences (NASDAQ: NBIX) is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research‐driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine’s operations encompass drug discovery, clinical development and commercialization activities.
The company’s lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.