Neurocrine Biosciences, Inc.  (NASDAQ:NBIX) Short Interest Down 17.1% in May

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Short Interest Down 17.1% in May


Neurocrine Biosciences, Inc. (NASDAQ:NBIX – Get Rating) saw a significant drop in short interest in the month of May. As of May 31st, there was short interest totaling 3,580,000 shares, a drop of 17.1% from the May 15th total of 4,320,000 shares. Based on an average daily volume of 734,800 shares, the short-interest ratio is presently 4.9 days. Currently, 3.8% of the shares of the stock are sold short.

A number of equities analysts recently commented on NBIX shares. Piper Sandler downgraded Neurocrine Biosciences from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $114.00 to $94.00 in a research report on Thursday, March 3rd. Barclays lifted their price objective on Neurocrine Biosciences from $100.00 to $110.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 12th. Wedbush reiterated an “outperform” rating on shares of Neurocrine Biosciences in a research report on Thursday, April 28th. The Goldman Sachs Group upgraded Neurocrine Biosciences from a “neutral” rating to a “buy” rating and set a $115.00 price objective on the stock in a research report on Thursday, February 24th. Finally, StockNews.com upgraded Neurocrine Biosciences from a “hold” rating to a “buy” rating in a research report on Monday, March 28th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat, Neurocrine Biosciences currently has an average rating of “Hold” and an average price target of $111.93.

Shares of NASDAQ NBIX traded down $4.59 during trading on Thursday, reaching $88.56. The stock had a trading volume of 16,145 shares, compared to its average volume of 811,109. Neurocrine Biosciences has a fifty-two week low of $71.88 and a fifty-two week high of $108.01. The company has a market cap of $8.46 billion, a P/E ratio of 124.81 and a beta of 0.70. The company has a debt-to-equity ratio of 0.27, a quick ratio of 3.90 and a current ratio of 4.02. The business’s 50-day moving average price is $91.35 and its 200-day moving average price is $87.18.

Neurocrine Biosciences (NASDAQ:NBIX – Get Rating) last released its earnings results on Wednesday, May 4th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.19). Neurocrine Biosciences had a return on equity of 5.30% and a net margin of 5.91%. The company had revenue of $310.60 million for the quarter, compared to analyst estimates of $304.07 million. During the same period in the previous year, the firm earned $0.33 earnings per share. The company’s revenue for the quarter was up 31.3% compared to the same quarter last year. Analysts forecast that Neurocrine Biosciences will post 1.91 EPS for the current fiscal year.

In other news, insider Darin Lippoldt sold 300 shares of Neurocrine Biosciences stock in a transaction that occurred on Friday, March 18th. The stock was sold at an average price of $95.00, for a total value of $28,500.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Richard F. Pops sold 15,000 shares of Neurocrine Biosciences stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $76.30, for a total value of $1,144,500.00. Following the completion of the sale, the director now directly owns 29,512 shares in the company, valued at $2,251,765.60. 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. 4.40% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its position in shares of Neurocrine Biosciences by 6.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 287,957 shares of the company’s stock worth $27,616,000 after acquiring an additional 16,925 shares in the last quarter. Tudor Investment Corp Et Al lifted its holdings in shares of Neurocrine Biosciences by 22.7% in the 3rd quarter. Tudor Investment Corp Et Al now owns 29,512 shares of the company’s stock valued at $2,830,000 after purchasing an additional 5,452 shares during the last quarter. Cubist Systematic Strategies LLC lifted its holdings in shares of Neurocrine Biosciences by 0.7% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 22,275 shares of the company’s stock valued at $2,136,000 after purchasing an additional 159 shares during the last quarter. Point72 Asset Management LP purchased a new stake in shares of Neurocrine Biosciences in the 3rd quarter valued at about $14,286,000. Finally, LPL Financial LLC lifted its holdings in shares of Neurocrine Biosciences by 46.9% in the 3rd quarter. LPL Financial LLC now owns 20,807 shares of the company’s stock valued at $1,996,000 after purchasing an additional 6,644 shares during the last quarter. 93.21% of the stock is owned by hedge funds and other institutional investors.

Neurocrine Biosciences Company Profile (GetRated)

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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