Heavy Trading On Neurocrine Biosciences (NBIX) Before Market Open

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Trade-Ideas LLC identified Neurocrine Biosciences ( NBIX) as a pre-market mover with heavy volume candidate. In addition to specific proprietary factors, Trade-Ideas identified Neurocrine Biosciences as such a stock due to the following factors:

  • NBIX has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $11.2 million.
  • NBIX traded 72,109 shares today in the pre-market hours as of 8:37 AM, representing 11.6% of its average daily volume.

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More details on NBIX:

Neurocrine Biosciences, Inc. discovers, develops, and commercializes drugs for the treatment of neurological and endocrine-related diseases and disorders in the United States. Currently there are 11 analysts that rate Neurocrine Biosciences a buy, no analysts rate it a sell, and none rate it a hold.

The average volume for Neurocrine Biosciences has been 1.2 million shares per day over the past 30 days. Neurocrine has a market cap of $1.2 billion and is part of the health care sector and drugs industry. The stock has a beta of -0.06 and a short float of 8.1% with 7.25 days to cover. Shares are up 91% year-to-date as of the close of trading on Tuesday.

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TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Neurocrine Biosciences as a hold. The company's strengths can be seen in multiple areas, such as its solid stock price performance and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and disappointing return on equity.

Highlights from the ratings report include:
  • Compared to its closing price of one year ago, NBIX's share price has jumped by 60.00%, exceeding the performance of the broader market during that same time frame. Although NBIX had significant growth over the past year, our hold rating indicates that we do not recommend additional investment in this stock at the current time.
  • NBIX has no debt to speak of therefore resulting in a debt-to-equity ratio of zero, which we consider to be a relatively favorable sign. Along with this, the company maintains a quick ratio of 12.46, which clearly demonstrates the ability to cover short-term cash needs.
  • NBIX, with its very weak revenue results, has greatly underperformed against the industry average of 15.7%. Since the same quarter one year prior, revenues plummeted by 96.7%. Weakness in the company's revenue seems to have hurt the bottom line, decreasing earnings per share.
  • NEUROCRINE BIOSCIENCES INC has experienced a steep decline in earnings per share in the most recent quarter in comparison to its performance from the same quarter a year ago. Earnings per share have declined over the last two years. We anticipate that this should continue in the coming year. During the past fiscal year, NEUROCRINE BIOSCIENCES INC swung to a loss, reporting -$0.69 versus $0.07 in the prior year. For the next year, the market is expecting a contraction of 26.1% in earnings (-$0.87 versus -$0.69).
  • The company, on the basis of change in net income from the same quarter one year ago, has significantly underperformed when compared to that of the S&P 500 and the Biotechnology industry. The net income has significantly decreased by 212.1% when compared to the same quarter one year ago, falling from $9.49 million to -$10.64 million.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
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