Neurocrine Biosciences Inc. (NBIX) Shares Down 2.8%
Neurocrine Biosciences Inc. (NASDAQ:NBIX) shares dropped 2.8% during trading on Monday . The stock traded as low as $47.96 and last traded at $48.57, with a volume of 388,285 shares. The stock had previously closed at $49.97.
NBIX has been the subject of several research reports. Jefferies Group reaffirmed a “buy” rating on shares of Neurocrine Biosciences in a research report on Wednesday, June 8th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $57.00 target price on shares of Neurocrine Biosciences in a research report on Tuesday, April 12th. Piper Jaffray Cos. reiterated an “overweight” rating and set a $96.00 price objective on shares of Neurocrine Biosciences in a research note on Tuesday, June 7th. HC Wainwright assumed coverage on Neurocrine Biosciences in a research note on Wednesday, June 29th. They set a “buy” rating and a $80.00 price objective for the company. Finally, JPMorgan Chase & Co. reiterated a “buy” rating on shares of Neurocrine Biosciences in a research note on Wednesday, May 4th. One research analyst has rated the stock with a sell rating and ten have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $63.90.
The firm’s 50 day moving average price is $47.27 and its 200 day moving average price is $43.62. The firm’s market capitalization is $4.22 billion.
Neurocrine Biosciences (NASDAQ:NBIX) last released its earnings results on Thursday, May 5th. The company reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.07. During the same quarter in the previous year, the company posted ($0.01) earnings per share. The company had revenue of $15 million for the quarter, compared to the consensus estimate of $15.43 million. The business’s revenue was down 24.1% compared to the same quarter last year. Equities research analysts predict that Neurocrine Biosciences Inc. will post ($1.92) EPS for the current year.
In other news, insider Christopher Flint Obrien sold 25,000 shares of the business’s stock in a transaction on Monday, May 16th. The stock was sold at an average price of $45.00, for a total transaction of $1,125,000.00. Following the completion of the transaction, the insider now owns 80,044 shares of the company’s stock, valued at approximately $3,601,980. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard F. Pops sold 15,000 shares of the business’s stock in a transaction on Wednesday, May 25th. The stock was sold at an average price of $46.72, for a total value of $700,800.00. Following the transaction, the director now directly owns 15,464 shares of the company’s stock, valued at approximately $722,478.08. The disclosure for this sale can be found here.
A number of institutional investors have recently modified their holdings of NBIX. I.G. Investment Management LTD. purchased a new position in shares of Neurocrine Biosciences during the fourth quarter worth about $2,546,000. Russell Frank Co boosted its position in shares of Neurocrine Biosciences by 10.7% in the fourth quarter. Russell Frank Co now owns 53,358 shares of the company’s stock worth $3,014,000 after buying an additional 5,148 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Neurocrine Biosciences by 7.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 134,303 shares of the company’s stock worth $7,597,000 after buying an additional 9,793 shares during the last quarter. BlackRock Advisors LLC boosted its position in shares of Neurocrine Biosciences by 28.3% in the fourth quarter. BlackRock Advisors LLC now owns 1,069,299 shares of the company’s stock worth $60,490,000 after buying an additional 235,700 shares during the last quarter. Finally, Westfield Capital Management Co. LP boosted its position in shares of Neurocrine Biosciences by 6.6% in the fourth quarter. Westfield Capital Management Co. LP now owns 1,221,642 shares of the company’s stock worth $69,108,000 after buying an additional 75,797 shares during the last quarter.
Neurocrine Biosciences, Inc is engaged in the development of pharmaceutical products focused on neurological and endocrine-based diseases and disorders. The Company’s two lead late-stage clinical programs are Elagolix, a gonadotropin-releasing hormone (GnRH) antagonist for women’s health that is partnered with AbbVie Inc (AbbVie), and NBI-98854 (valbenazine), a vesicular monoamine transporter 2 (VMAT2) inhibitor for the treatment of movement disorders.
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