Short Interest in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Rises By 23.1%

Neurocrine Biosciences, Inc. (NASDAQ:NBIXGet Rating) was the recipient of a large increase in short interest in May. As of May 15th, there was short interest totalling 4,320,000 shares, an increase of 23.1% from the April 30th total of 3,510,000 shares. Currently, 4.6% of the company’s stock are short sold. Based on an average daily volume of 713,800 shares, the days-to-cover ratio is presently 6.1 days.

Several equities research analysts recently commented on NBIX shares. Raymond James reaffirmed a “buy” rating and set a $125.00 price objective on shares of Neurocrine Biosciences in a research report on Friday, February 11th. Wedbush reiterated an “outperform” rating on shares of Neurocrine Biosciences in a research note on Thursday, April 28th. StockNews.com upgraded shares of Neurocrine Biosciences from a “hold” rating to a “buy” rating in a research report on Monday, March 28th. Zacks Investment Research upgraded shares of Neurocrine Biosciences from a “strong sell” rating to a “hold” rating in a research note on Thursday, April 21st. Finally, The Goldman Sachs Group upgraded Neurocrine Biosciences from a “neutral” rating to a “buy” rating and set a $115.00 price target on the stock in a research note on Thursday, February 24th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Neurocrine Biosciences presently has a consensus rating of “Hold” and an average target price of $112.13.

In related news, Director Richard F. Pops sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, May 9th. The shares were sold at an average price of $76.30, for a total transaction of $1,144,500.00. Following the completion of the sale, the director now owns 29,512 shares of the company’s stock, valued at $2,251,765.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Darin Lippoldt sold 8,455 shares of the business’s stock in a transaction that occurred on Tuesday, March 22nd. The stock was sold at an average price of $95.05, for a total transaction of $803,647.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 49,483 shares of company stock worth $4,386,457. Insiders own 4.40% of the company’s stock.

Large investors have recently modified their holdings of the stock. Neuberger Berman Group LLC raised its holdings in shares of Neurocrine Biosciences by 65.0% in the first quarter. Neuberger Berman Group LLC now owns 7,482 shares of the company’s stock worth $702,000 after buying an additional 2,948 shares during the period. Toroso Investments LLC increased its stake in Neurocrine Biosciences by 14.7% in the first quarter. Toroso Investments LLC now owns 3,144 shares of the company’s stock worth $295,000 after purchasing an additional 402 shares during the period. Walleye Trading LLC boosted its stake in shares of Neurocrine Biosciences by 24.3% during the first quarter. Walleye Trading LLC now owns 6,519 shares of the company’s stock valued at $611,000 after purchasing an additional 1,273 shares during the period. Penn Capital Management Company LLC boosted its stake in shares of Neurocrine Biosciences by 24.0% during the first quarter. Penn Capital Management Company LLC now owns 3,567 shares of the company’s stock valued at $334,000 after purchasing an additional 691 shares during the period. Finally, Point72 Hong Kong Ltd grew its holdings in shares of Neurocrine Biosciences by 165.3% in the first quarter. Point72 Hong Kong Ltd now owns 6,951 shares of the company’s stock worth $652,000 after purchasing an additional 4,331 shares during the last quarter. Institutional investors own 93.21% of the company’s stock.

NBIX traded down $0.34 during trading on Wednesday, hitting $93.15. 30,462 shares of the company traded hands, compared to its average volume of 852,687. The company has a current ratio of 4.02, a quick ratio of 3.90 and a debt-to-equity ratio of 0.27. The company has a market cap of $8.90 billion, a PE ratio of 130.46 and a beta of 0.70. The stock’s 50-day simple moving average is $91.44 and its two-hundred day simple moving average is $86.66. Neurocrine Biosciences has a 1 year low of $71.88 and a 1 year high of $108.01.

Neurocrine Biosciences (NASDAQ:NBIXGet Rating) last issued its earnings results on Wednesday, May 4th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.19). The firm had revenue of $310.60 million during the quarter, compared to the consensus estimate of $304.07 million. Neurocrine Biosciences had a return on equity of 5.30% and a net margin of 5.91%. The company’s revenue for the quarter was up 31.3% compared to the same quarter last year. During the same period last year, the firm posted $0.33 earnings per share. Equities analysts expect that Neurocrine Biosciences will post 1.91 EPS for the current year.

About Neurocrine Biosciences (Get Rating)

Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, endocrine, and psychiatric disorders. The company's portfolio includes treatments for tardive dyskinesia, Parkinson's disease, endometriosis, and uterine fibroids, as well as clinical programs in various therapeutic areas.

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