Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Short Interest Up 23.9% in April

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) saw a significant growth in short interest in the month of 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. Approximately 5.9% of the shares of the company are short sold. Based on an average daily volume of 1,160,869 shares, the short-interest ratio is presently 4.9 days.

Analyst Upgrades and Downgrades

NBIX has been the topic of a number of research reports. Wall Street Zen raised shares of Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 25th. HC Wainwright increased their target price on shares of Neurocrine Biosciences from $192.00 to $215.00 and gave the stock a “buy” rating in a report on Tuesday, April 7th. Wedbush increased their target price on shares of Neurocrine Biosciences from $151.00 to $166.00 and gave the stock an “outperform” rating in a report on Tuesday, April 7th. Royal Bank Of Canada dropped their target price on shares of Neurocrine Biosciences from $180.00 to $177.00 and set an “outperform” rating on the stock in a report on Thursday, February 12th. Finally, UBS Group dropped their target price on shares of Neurocrine Biosciences from $188.00 to $178.00 and set a “buy” rating on the stock in a report on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $180.45.

Neurocrine Biosciences Trading Up 0.1%

NASDAQ:NBIX traded up $0.11 during mid-day trading on Friday, hitting $131.78. The stock had a trading volume of 680,071 shares, compared to its average volume of 1,145,315. The company has a 50 day simple moving average of $130.25 and a 200-day simple moving average of $137.73. The stock has a market capitalization of $13.25 billion, a price-to-earnings ratio of 28.28, a P/E/G ratio of 0.69 and a beta of 0.34. Neurocrine Biosciences has a 52 week low of $107.96 and a 52 week high of $160.18.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its earnings results on Wednesday, February 11th. The company reported $1.88 EPS for the quarter, missing the consensus estimate of $2.36 by ($0.48). Neurocrine Biosciences had a return on equity of 16.48% and a net margin of 16.73%.The firm had revenue of $805.50 million during the quarter, compared to the consensus estimate of $804.21 million. During the same quarter last year, the company posted $1.69 EPS. Neurocrine Biosciences’s revenue for the quarter was up 28.3% on a year-over-year basis. As a group, equities research analysts anticipate that Neurocrine Biosciences will post 6.33 earnings per share for the current year.

Hedge Funds Weigh In On Neurocrine Biosciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NBIX. USA Financial Formulas bought a new stake in Neurocrine Biosciences during the 4th quarter valued at $25,000. Geneos Wealth Management Inc. boosted its position in Neurocrine Biosciences by 143.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after acquiring an additional 135 shares during the period. Golden State Wealth Management LLC grew its stake in shares of Neurocrine Biosciences by 120.5% in the third 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 acquired a new position in shares of Neurocrine Biosciences during the third quarter valued at $27,000. Finally, DJE Kapital AG acquired a new position in shares of Neurocrine Biosciences during the fourth quarter valued at $28,000. 92.59% of the stock is owned by institutional investors.

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.