Investors Buy Shares of Neurocrine Biosciences, Inc. (NBIX) on Weakness
Investors purchased shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) on weakness during trading on Monday. $29.87 million flowed into the stock on the tick-up and $5.31 million flowed out of the stock on the tick-down, for a money net flow of $24.56 million into the stock. Of all companies tracked, Neurocrine Biosciences had the 24th highest net in-flow for the day. Neurocrine Biosciences traded down ($0.02) for the day and closed at $56.69
A number of equities research analysts have weighed in on NBIX shares. Jefferies Group LLC reiterated a “buy” rating and set a $67.00 price target on shares of Neurocrine Biosciences in a research note on Monday, May 22nd. Needham & Company LLC reiterated a “buy” rating and set a $58.00 price target (down previously from $62.00) on shares of Neurocrine Biosciences in a research report on Wednesday, May 24th. Leerink Swann reduced their price target on shares of Neurocrine Biosciences from $68.00 to $66.00 and set an “outperform” rating on the stock in a research report on Thursday, May 25th. BMO Capital Markets reiterated an “outperform” rating and set a $75.00 price target on shares of Neurocrine Biosciences in a research report on Thursday, May 25th. Finally, J P Morgan Chase & Co set a $57.00 price target on shares of Neurocrine Biosciences and gave the stock a “buy” rating in a research report on Wednesday, May 24th. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Neurocrine Biosciences has an average rating of “Buy” and an average price target of $68.25.
The company’s market cap is $5.00 billion. The company has a 50-day moving average price of $54.15 and a 200-day moving average price of $49.08.
Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Thursday, August 3rd. The company reported ($0.68) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.01). The business had revenue of $6.34 million during the quarter, compared to analyst estimates of $0.61 million. During the same period in the prior year, the business posted ($0.46) EPS. On average, equities research analysts predict that Neurocrine Biosciences, Inc. will post ($2.45) EPS for the current year.
In other news, insider Haig P. Bozigian sold 22,500 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $50.00, for a total value of $1,125,000.00. Following the transaction, the insider now directly owns 154,601 shares in the company, valued at approximately $7,730,050. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Dimitri E. Grigoriadis sold 15,354 shares of the firm’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $55.00, for a total value of $844,470.00. Following the completion of the transaction, the insider now owns 123,045 shares in the company, valued at $6,767,475. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 125,655 shares of company stock valued at $7,018,148. 4.80% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company lifted its position in Neurocrine Biosciences by 7.8% during the second quarter. The Manufacturers Life Insurance Company now owns 2,665 shares of the company’s stock valued at $123,000 after purchasing an additional 193 shares in the last quarter. ARS Investment Partners LLC purchased a new position in shares of Neurocrine Biosciences in the second quarter valued at about $207,000. Stephens Inc. AR purchased a new position in shares of Neurocrine Biosciences in the second quarter valued at about $207,000. Capstone Asset Management Co. purchased a new position in shares of Neurocrine Biosciences in the first quarter valued at about $214,000. Finally, Cubist Systematic Strategies LLC lifted its position in shares of Neurocrine Biosciences by 151.5% in the second quarter. Cubist Systematic Strategies LLC now owns 5,301 shares of the company’s stock valued at $244,000 after acquiring an additional 3,193 shares in the last quarter.
About Neurocrine Biosciences
Neurocrine Biosciences, Inc is engaged in discovering and developing pharmaceuticals, in diseases with unmet medical needs, through its research and development (R&D) platform, focused on neurological and endocrine based diseases and disorders. Its three lead late-stage clinical programs are elagolix, which is a gonadotropin-releasing hormone (GnRH) antagonist for endometriosis and uterine fibroids; INGREZZA (valbenazine), which is a vesicular monoamine transporter 2 (VMAT2) inhibitor, for the treatment of movement disorders, and opicapone, which is a selective catechol-O-methyltransferase inhibitor that is an adjunct therapy to preparations of levodopa/Dihydroxyphenylalanine (DOPA) decarboxylase inhibitors for adult patients with Parkinson’s disease.
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