Neurocrine Biosciences Target of Unusually Large Options Trading (NASDAQ:NBIX)

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) was the target of some unusual options trading on Thursday. Stock traders acquired 3,339 call options on the stock. This is an increase of 531% compared to the average volume of 529 call options.

Shares of NBIX stock opened at $78.36 on Friday. The firm has a market cap of $7.43 billion, a P/E ratio of 17.15 and a beta of 0.74. The company has a debt-to-equity ratio of 0.25, a current ratio of 4.45 and a quick ratio of 4.34. Neurocrine Biosciences has a 1-year low of $71.88 and a 1-year high of $120.27. The firm has a fifty day moving average of $84.37 and a two-hundred day moving average of $92.34.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Monday, November 1st. The company reported $0.23 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by ($0.28). Neurocrine Biosciences had a net margin of 41.59% and a return on equity of 35.89%. The business had revenue of $296.00 million during the quarter, compared to analyst estimates of $297.02 million. During the same period last year, the firm posted ($0.62) earnings per share. The company’s quarterly revenue was up 14.5% on a year-over-year basis. On average, sell-side analysts expect that Neurocrine Biosciences will post 1.63 EPS for the current year.

In other news, CFO Matt Abernethy sold 1,645 shares of Neurocrine Biosciences stock in a transaction dated Wednesday, December 1st. The stock was sold at an average price of $82.59, for a total value of $135,860.55. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Kyle Gano sold 28,266 shares of Neurocrine Biosciences stock in a transaction dated Wednesday, January 5th. The shares were sold at an average price of $85.50, for a total value of $2,416,743.00. The disclosure for this sale can be found here. Insiders sold a total of 32,543 shares of company stock worth $2,748,688 over the last ninety days. Corporate insiders own 4.30% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Thrivent Financial for Lutherans boosted its holdings in shares of Neurocrine Biosciences by 0.5% in the 2nd quarter. Thrivent Financial for Lutherans now owns 25,099 shares of the company’s stock valued at $2,443,000 after buying an additional 124 shares during the period. Northwestern Mutual Investment Management Company LLC boosted its holdings in shares of Neurocrine Biosciences by 0.9% in the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 15,746 shares of the company’s stock valued at $1,532,000 after buying an additional 136 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Neurocrine Biosciences by 0.8% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 17,487 shares of the company’s stock valued at $1,677,000 after buying an additional 136 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Neurocrine Biosciences by 0.5% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 31,497 shares of the company’s stock valued at $3,065,000 after buying an additional 156 shares during the period. Finally, Cubist Systematic Strategies LLC boosted its holdings in shares of Neurocrine Biosciences by 0.7% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 22,275 shares of the company’s stock valued at $2,136,000 after buying an additional 159 shares during the period. 94.20% of the stock is owned by institutional investors and hedge funds.

Several research firms recently commented on NBIX. Mizuho boosted their price target on Neurocrine Biosciences from $99.00 to $103.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 2nd. BMO Capital Markets began coverage on Neurocrine Biosciences in a research report on Thursday, November 18th. They set an “underperform” rating and a $76.00 price target on the stock. Citigroup boosted their price target on Neurocrine Biosciences from $127.00 to $129.00 and gave the stock a “buy” rating in a research report on Wednesday, December 8th. Zacks Investment Research raised Neurocrine Biosciences from a “sell” rating to a “hold” rating in a research report on Wednesday, December 8th. Finally, SVB Leerink reissued a “market perform” rating on shares of Neurocrine Biosciences in a research report on Monday, October 18th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $116.81.

About Neurocrine Biosciences

Neurocrine Biosciences, Inc is a neuroscience-focused, biopharmaceutical company. It discovers, develops and intends to commercialize drugs for the treatment of neurological and endocrine related diseases and disorders. The firm’s product includes INGREZZA. The company was founded by Kevin C. Gorman and Wylie W.

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