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

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) was the target of a significant decline in short interest in January. As of January 15th, there was short interest totaling 3,501,097 shares, a decline of 13.9% from the December 31st total of 4,067,222 shares. Approximately 3.7% of the company’s stock are short sold. Based on an average daily volume of 1,280,253 shares, the days-to-cover ratio is currently 2.7 days. Based on an average daily volume of 1,280,253 shares, the days-to-cover ratio is currently 2.7 days. Approximately 3.7% of the company’s stock are short sold.

Insider Activity

In other news, insider Darin Lippoldt sold 4,376 shares of the firm’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $159.65, for a total value of $698,628.40. Following the sale, the insider directly owned 43,405 shares in the company, valued at approximately $6,929,608.25. This trade represents a 9.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kyle Gano sold 36,400 shares of Neurocrine Biosciences stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $132.70, for a total transaction of $4,830,280.00. Following the completion of the transaction, the chief executive officer directly owned 140,407 shares in the company, valued at approximately $18,632,008.90. The trade was a 20.59% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 61,966 shares of company stock valued at $8,625,166. Corporate insiders own 4.80% of the company’s stock.

Institutional Trading of Neurocrine Biosciences

Several institutional investors and hedge funds have recently bought and sold shares of the business. USA Financial Formulas acquired a new stake in shares of Neurocrine Biosciences in the fourth quarter worth $25,000. Geneos Wealth Management Inc. boosted its holdings in Neurocrine Biosciences by 143.6% in the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after purchasing an additional 135 shares during the last quarter. Golden State Wealth Management LLC grew its position in Neurocrine Biosciences by 120.5% during 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 during the period. Eastern Bank acquired a new stake in Neurocrine Biosciences during the 3rd quarter worth about $27,000. Finally, Quent Capital LLC purchased a new position in shares of Neurocrine Biosciences during the 3rd quarter valued at about $32,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Neurocrine Biosciences Stock Performance

Shares of NBIX stock opened at $137.86 on Thursday. Neurocrine Biosciences has a fifty-two week low of $84.23 and a fifty-two week high of $160.18. The firm has a market capitalization of $13.75 billion, a PE ratio of 32.98, a P/E/G ratio of 0.64 and a beta of 0.31. The stock’s 50-day simple moving average is $142.69 and its 200-day simple moving average is $140.36.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NBIX. Piper Sandler increased their price objective on Neurocrine Biosciences from $175.00 to $179.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. UBS Group reduced their target price on Neurocrine Biosciences from $188.00 to $178.00 and set a “buy” rating on the stock in a research report on Friday, January 23rd. Truist Financial lowered their price target on Neurocrine Biosciences from $172.00 to $169.00 and set a “buy” rating for the company in a report on Thursday, January 8th. Zacks Research lowered Neurocrine Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Finally, Mizuho increased their price objective on shares of Neurocrine Biosciences from $146.00 to $175.00 and gave the company a “neutral” rating in a research report on Friday, December 12th. Seventeen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $174.25.

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.