Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Short Interest Update

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) was the target of a large growth in short interest in 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 daily volume of 1,160,869 shares, the days-to-cover ratio is currently 4.9 days. Currently, 5.9% of the company’s shares are sold short.

Institutional Investors Weigh In On Neurocrine Biosciences

Several hedge funds have recently added to or reduced their stakes in NBIX. USA Financial Formulas purchased a new stake in shares of Neurocrine Biosciences in the fourth quarter worth $25,000. Geneos Wealth Management Inc. raised its position in shares of Neurocrine Biosciences by 143.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after purchasing an additional 135 shares during the last quarter. Golden State Wealth Management LLC boosted its stake in Neurocrine Biosciences by 120.5% in the 3rd quarter. Golden State Wealth Management LLC now owns 183 shares of the company’s stock worth $26,000 after purchasing an additional 100 shares in the last quarter. Eastern Bank bought a new position in Neurocrine Biosciences in the 3rd quarter worth about $27,000. Finally, DJE Kapital AG purchased a new stake in Neurocrine Biosciences during the 4th quarter valued at about $28,000. 92.59% of the stock is owned by institutional investors.

Neurocrine Biosciences Stock Up 0.1%

Shares of NASDAQ:NBIX traded up $0.11 during midday trading on Friday, reaching $131.78. The company’s stock had a trading volume of 680,071 shares, compared to its average volume of 1,145,315. The firm has a 50 day moving average of $130.25 and a 200-day moving average of $137.73. The firm has a market capitalization of $13.25 billion, a P/E ratio of 28.28, a PEG ratio of 0.69 and a beta of 0.34. Neurocrine Biosciences has a 12-month low of $107.96 and a 12-month high of $160.18.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Wednesday, February 11th. The company reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.48). The business had revenue of $805.50 million for the quarter, compared to analysts’ expectations of $804.21 million. Neurocrine Biosciences had a net margin of 16.73% and a return on equity of 16.48%. The company’s revenue was up 28.3% on a year-over-year basis. During the same period last year, the business earned $1.69 earnings per share. On average, research analysts predict that Neurocrine Biosciences will post 6.33 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on NBIX shares. Wolfe Research began coverage on shares of Neurocrine Biosciences in a research note on Tuesday, February 24th. They set an “outperform” rating and a $160.00 target price on the stock. Truist Financial lowered their price objective on shares of Neurocrine Biosciences from $169.00 to $140.00 and set a “buy” rating for the company in a report on Tuesday, February 17th. HC Wainwright lifted their price objective on Neurocrine Biosciences from $192.00 to $215.00 and gave the company a “buy” rating in a research report on Tuesday, April 7th. Wall Street Zen upgraded Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 25th. Finally, Wedbush increased their target price on Neurocrine Biosciences from $151.00 to $166.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $180.45.

About Neurocrine Biosciences

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.