Neurocrine Biosciences Inc. (NBIX): A Technical View


As of Wednesday close, Neurocrine Biosciences Inc.’s (NASDAQ:NBIX) stock was down -$1.83, moving down -1.51 percent to $118.97. The average number of shares traded per day over the past five days has been 596,880 shares. 4 times new highs have been achieved over the past 5 days, with a $6.30 gain in that time frame. In the last twenty days, the average volume was 936,495, while in the previous 50 days, it was 858,864.

Since last month, NBIX stock rose 5.67%. Shares of the company fell to $108.43 on 10/25/22, the lowest level in the past month. A 52-week high of $125.99 was reached on 11/08/22 after having rallying from a 52-week low of $71.88. Since the beginning of this year, NBIX’s stock price has risen by 39.69% or $33.80, and marked a new high 24 times. However, the stock has declined by -5.57% since its 52-week high.

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NBIX stock investors should be aware that Neurocrine Biosciences Inc. (NBIX) stock had its last reported insider trading activity 14 days ago on Nov 10. BENEVICH ERIC, the Chief Commercial Officer of the company, disposed of 100 shares for $125.36 on Nov 10. It resulted in a $12,536 divestment by the insider. BENEVICH ERIC sold 24,593 shares at an average price of $125.33 on Nov 08. The insider now owns 15,643 shares following the transaction. On Nov 08, Chief Legal Officer Lippoldt Darin sold 5,082 shares at $125.04 apiece. The transaction was valued at $635,442.

Valuation Metrics

Right now, Neurocrine Biosciences Inc. (NBIX) has a P/E ratio of about 204.77. The stock’s beta is 0.50. Besides these, the trailing price-to-sales (P/S) ratio of 7.89, the price-to-book (PB) ratio of 7.38, and the price-to-cash flow ratio of 61.87 may also be considered.

Financial Health

In the three months ended June 29, Neurocrine Biosciences Inc.’s quick ratio stood at 2.40, while its current ratio was 2.50, showing that the company is able to pay off its debt. On the profitability front, the trailing twelve-month gross margin is 98.60% percent. In the year ended June 29, operating margins totaled 2.80%. Based on annual data, NBIX earned $1.12 billion in gross profit and brought in $1.13 billion in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 5.30%. Return on equity (ROE) for the past 12 months was 4.10%.

According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. NBIX’s revenue rose 25.52% to $378.2 million during the quarter, while net income inched up to $387.9 million. While analysts expected Neurocrine Biosciences Inc. to report $0.6 quarterly earnings, the actual figure was -$0.18 per share. During the quarter, the company generated $92.0 million in EBITDA. The liabilities of Neurocrine Biosciences Inc. were 598.8 million at the end of its most recent quarter ended June 29, and its total debt was $285.7 million. The value of shareholders’ equity is $96.13 million.

Technical Picture

This quick technical analysis looks at Neurocrine Biosciences Inc.’s (NBIX) price momentum. With a historical volatility rate of 38.17%, the RSI 9-day stood at 52.41% on 23 November.

With respect to its five-day moving average, the current Neurocrine Biosciences Inc. price is up by +5.59% percent or $6.30. At present, NBIX shares trade +4.37% above its 20-day simple moving average and +21.03% percent above its 100-day simple moving average. However, the stock is currently trading approximately +14.04% above its SMA50 and +48.86% above its SMA200.

Stochastic coefficient K was 55.02% and Stochastic coefficient D was 52.49%, while ATR was 4.08. Given the Stochastic reading of 52.37% for the 14-day period, the RSI (14) reading has been calculated as 53.99%. As of today, the MACD Oscillator reading stands at 1.56, while the 14-day reading stands at -0.11.

Analyst Ratings

Neurocrine Biosciences Inc. downgraded its rating on Neurocrine Biosciences Inc. (NASDAQ: NBIX) to an In-line in a note to investors on November 14, 2022. The analysts firm previously had an Outperform rating on the stock.

With a median target price of $131.00, the current consensus forecast for the stock is $101.00 – $151.14. Based on these forecasts, analysts predict Neurocrine Biosciences Inc. (NBIX) will achieve an average price target of $129.21.


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