Neurocrine Biosciences Sees Unusually High Options Volume (NBIX)

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Neurocrine Biosciences, Inc. (NASDAQ:NBIX) was the target of some unusual options trading activity on Wednesday. Investors acquired 1,204 put options on the company. This represents an increase of 912% compared to the average daily volume of 119 put options.

In related news, CEO Kevin Charles Gorman sold 7,614 shares of Neurocrine Biosciences stock in a transaction that occurred on Tuesday, February 5th. The shares were sold at an average price of $88.16, for a total value of $671,250.24. Following the completion of the transaction, the chief executive officer now owns 408,082 shares in the company, valued at $35,976,509.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Eiry Roberts sold 1,857 shares of Neurocrine Biosciences stock in a transaction that occurred on Tuesday, January 8th. The shares were sold at an average price of $84.09, for a total transaction of $156,155.13. Following the completion of the transaction, the insider now owns 3,143 shares of the company’s stock, valued at approximately $264,294.87. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,280 shares of company stock valued at $1,163,054. Company insiders own 4.30% of the company’s stock.

A number of institutional investors have recently modified their holdings of NBIX. Arbor Wealth Management LLC purchased a new stake in shares of Neurocrine Biosciences during the 4th quarter worth approximately $92,000. American Century Companies Inc. purchased a new stake in shares of Neurocrine Biosciences during the 4th quarter worth approximately $10,579,000. Geode Capital Management LLC lifted its position in shares of Neurocrine Biosciences by 4.2% during the 4th quarter. Geode Capital Management LLC now owns 907,292 shares of the company’s stock worth $64,789,000 after buying an additional 36,508 shares during the last quarter. Norges Bank purchased a new stake in shares of Neurocrine Biosciences during the 4th quarter worth approximately $61,171,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Neurocrine Biosciences by 3.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 173,257 shares of the company’s stock worth $12,369,000 after buying an additional 6,149 shares during the last quarter.

Shares of Neurocrine Biosciences stock opened at $82.97 on Friday. Neurocrine Biosciences has a 52-week low of $64.72 and a 52-week high of $126.98. The company has a quick ratio of 8.24, a current ratio of 8.36 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $7.35 billion, a P/E ratio of 377.14, a PEG ratio of 29.63 and a beta of 1.86.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Tuesday, February 5th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.05. Neurocrine Biosciences had a net margin of 4.68% and a return on equity of 5.06%. The company had revenue of $131.49 million during the quarter, compared to the consensus estimate of $132.32 million. During the same quarter in the previous year, the firm earned $0.07 earnings per share. The firm’s quarterly revenue was up 39.1% on a year-over-year basis. On average, equities research analysts anticipate that Neurocrine Biosciences will post 0.11 EPS for the current fiscal year.

A number of brokerages recently weighed in on NBIX. BidaskClub upgraded shares of Neurocrine Biosciences from a “sell” rating to a “hold” rating in a report on Thursday. Oppenheimer lifted their price objective on shares of Neurocrine Biosciences from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday. ValuEngine cut shares of Neurocrine Biosciences from a “buy” rating to a “hold” rating in a report on Friday, February 22nd. Zacks Investment Research cut shares of Neurocrine Biosciences from a “buy” rating to a “hold” rating in a report on Saturday, February 9th. Finally, Bank of America dropped their price objective on shares of Neurocrine Biosciences from $124.00 to $117.00 and set a “buy” rating for the company in a report on Wednesday, February 6th. Six research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $102.56.

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Neurocrine Biosciences Company Profile

Neurocrine Biosciences, Inc discovers and develops pharmaceuticals for the treatment of neurological and endocrine-related diseases and disorders in the United States. The company offers INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor (VMAT2), which is used for the treatment of movement disorders; ORILISSA, a gonadotropin-releasing hormone (GnRH) antagonist for use in women's health.

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