Neurocrine Biosciences (NASDAQ:NBIX) Shares Gap Down to $152.55

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) gapped down before the market opened on Wednesday . The stock had previously closed at $152.55, but opened at $125.90. Neurocrine Biosciences shares last traded at $121.20, with a volume of 1,126,479 shares.

Analyst Ratings Changes

Several analysts recently issued reports on NBIX shares. Barclays boosted their price target on Neurocrine Biosciences from $169.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. HC Wainwright reissued a “buy” rating and issued a $190.00 target price on shares of Neurocrine Biosciences in a research report on Thursday. Citigroup upped their price target on shares of Neurocrine Biosciences from $150.00 to $158.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Cantor Fitzgerald dropped their price objective on shares of Neurocrine Biosciences from $170.00 to $155.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Canaccord Genuity Group increased their target price on shares of Neurocrine Biosciences from $154.00 to $164.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Five investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $163.00.

Neurocrine Biosciences Trading Up 3.8 %

The firm has a market capitalization of $12.92 billion, a price-to-earnings ratio of 35.38 and a beta of 0.37. The firm’s 50-day moving average is $144.08 and its 200 day moving average is $139.36.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.52). Neurocrine Biosciences had a net margin of 16.00% and a return on equity of 14.86%. The business had revenue of $590.20 million for the quarter, compared to the consensus estimate of $545.98 million. During the same period in the previous year, the business posted $0.95 EPS. Neurocrine Biosciences’s revenue was up 30.4% on a year-over-year basis. Analysts predict that Neurocrine Biosciences, Inc. will post 4.22 EPS for the current year.

Insider Buying and Selling

In other Neurocrine Biosciences news, insider Julie Cooke sold 10,000 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $140.19, for a total value of $1,401,900.00. Following the sale, the insider now owns 18,202 shares in the company, valued at approximately $2,551,738.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Neurocrine Biosciences news, insider Julie Cooke sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $140.19, for a total transaction of $1,401,900.00. Following the completion of the transaction, the insider now owns 18,202 shares in the company, valued at approximately $2,551,738.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Gary A. Lyons sold 930 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $150.03, for a total transaction of $139,527.90. Following the completion of the sale, the director now directly owns 119,047 shares in the company, valued at $17,860,621.41. The disclosure for this sale can be found here. Insiders sold a total of 71,798 shares of company stock valued at $10,676,096 in the last three months. Insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Neurocrine Biosciences

Several institutional investors have recently made changes to their positions in NBIX. International Assets Investment Management LLC increased its position in Neurocrine Biosciences by 7,880.3% in the 4th quarter. International Assets Investment Management LLC now owns 5,666 shares of the company’s stock valued at $747,000 after buying an additional 5,595 shares in the last quarter. CWM LLC raised its position in shares of Neurocrine Biosciences by 41.6% during the fourth quarter. CWM LLC now owns 2,902 shares of the company’s stock worth $382,000 after purchasing an additional 853 shares during the period. Truist Financial Corp lifted its holdings in shares of Neurocrine Biosciences by 4.0% in the 4th quarter. Truist Financial Corp now owns 37,195 shares of the company’s stock worth $4,901,000 after purchasing an additional 1,423 shares in the last quarter. Certuity LLC acquired a new stake in Neurocrine Biosciences in the 4th quarter valued at $415,000. Finally, Victory Capital Management Inc. increased its stake in Neurocrine Biosciences by 67.9% during the 4th quarter. Victory Capital Management Inc. now owns 117,221 shares of the company’s stock valued at $15,445,000 after purchasing an additional 47,389 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

About Neurocrine Biosciences

Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, neuroendocrine, and neuropsychiatric disorders in the United States and internationally. The company's products include INGREZZA for tardive dyskinesia and chorea associated with Huntington's disease; ALKINDI for adrenal insufficiency; Efmody capsules for classic congenital adrenal hyperplasia; Orilissa tablets for endometriosis; and Oriahnn capsules to treat uterine fibroids.