Neurocrine Biosciences (NASDAQ:NBIX) Shares Gap Down After Earnings Miss

Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) gapped down prior to trading on Friday following a dissappointing earnings announcement. The stock had previously closed at $150.51, but opened at $126.01. Neurocrine Biosciences shares last traded at $128.72, with a volume of 2,084,408 shares changing hands.

The company reported $1.00 earnings per share for the quarter, missing the consensus estimate of $1.62 by ($0.62). Neurocrine Biosciences had a net margin of 17.21% and a return on equity of 15.68%.

Analysts Set New Price Targets

Several equities analysts recently commented on NBIX shares. Bank of America cut their target price on Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating for the company in a research report on Friday. Wedbush restated an “outperform” rating and issued a $148.00 target price on shares of Neurocrine Biosciences in a research note on Monday, December 16th. Piper Sandler reiterated an “overweight” rating and set a $160.00 target price on shares of Neurocrine Biosciences in a research report on Monday, December 23rd. Needham & Company LLC restated a “hold” rating on shares of Neurocrine Biosciences in a research report on Friday. Finally, UBS Group upped their price objective on shares of Neurocrine Biosciences from $162.00 to $176.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Five analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $167.19.

Insiders Place Their Bets

In other Neurocrine Biosciences news, CFO Matt Abernethy sold 1,283 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of $152.87, for a total value of $196,132.21. Following the sale, the chief financial officer now directly owns 32,681 shares in the company, valued at approximately $4,995,944.47. This trade represents a 3.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kevin Charles Gorman sold 2,707 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $152.92, for a total transaction of $413,954.44. Following the completion of the transaction, the director now directly owns 517,030 shares of the company’s stock, valued at $79,064,227.60. This trade represents a 0.52 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 222,693 shares of company stock valued at $32,718,279. Company insiders own 4.30% of the company’s stock.

Institutional Trading of Neurocrine Biosciences

Large investors have recently bought and sold shares of the business. Golden State Wealth Management LLC acquired a new stake in shares of Neurocrine Biosciences in the fourth quarter valued at approximately $25,000. Brooklyn Investment Group increased its stake in Neurocrine Biosciences by 99.1% in the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock valued at $32,000 after buying an additional 115 shares during the last quarter. Blue Trust Inc. lifted its position in Neurocrine Biosciences by 171.9% during the 3rd quarter. Blue Trust Inc. now owns 348 shares of the company’s stock worth $40,000 after buying an additional 220 shares in the last quarter. Lindbrook Capital LLC boosted its stake in shares of Neurocrine Biosciences by 53.5% during the 4th quarter. Lindbrook Capital LLC now owns 373 shares of the company’s stock worth $51,000 after buying an additional 130 shares during the last quarter. Finally, R Squared Ltd bought a new position in shares of Neurocrine Biosciences in the 4th quarter valued at about $61,000. 92.59% of the stock is owned by institutional investors.

Neurocrine Biosciences Stock Performance

The company has a market cap of $12.79 billion, a P/E ratio of 33.88 and a beta of 0.33. The company has a fifty day moving average price of $138.41 and a two-hundred day moving average price of $131.64.

Neurocrine Biosciences Company Profile

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.