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Why Neurocrine Biosciences Stock Is Plummeting Today


Dec. 12 2018, Updated 12:19 p.m. ET

Stock performance

Today, Neurocrine Biosciences (NBIX) is trading at $67.91, a ~20.83% fall from its closing price of $85.76 on December 11. Neurocrine stock has hit its 52-week low of $64.72.

Neurocrine stock was trading at $103.0 at the close of market on November 12, and it reached $85.69 on December 11, representing a ~17% fall in the month. The stock hit its 52-week high of $126.98 on September 13.

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Reason for the stock price fall

Today, Neurocrine Biosciences announced that its Phase 2b T-Force GOLD trial had not met its primary endpoint. Neurocrine Biosciences conducted the Phase 2b T-Force GOLD trial to evaluate the tolerability, safety, and efficacy of valbenazine in pediatric individuals with moderate to severe Tourette’s syndrome. Neurocrine Biosciences stock started plummeting after the company announced the results of the trial.

Presently, valbenazine is commercialized with the trade name Ingrezza. Ingrezza has been approved by the FDA for the treatment of adult individuals with tardive dyskinesia. Ingrezza generated revenue of $279.3 million in the first nine months of 2018 compared to $52.1 million in the same period last year.

Analysts’ recommendations for NBIX and its peers

Of the 15 analysts tracking Neurocrine Biosciences in December, six have given it “strong buy” recommendations, while eight have given it “buy” recommendations. One has given it a “hold” recommendation.

In December, of the 24 analysts tracking BioMarin Pharmaceuticals (BMRN), ~83% have given it “buys.” Among the 18 analysts tracking Alexion Pharmaceuticals (ALXN), ~89% have given it “buys.”

On December 12, Neurocrine Biosciences, Alexion Pharmaceuticals, and BioMarin Pharmaceuticals had consensus 12-month target prices of $125.0, $164.35, and $121.67, respectively, representing potential returns on investment of ~88.86%, ~39.36%, and ~27.39%, respectively, over the next 12 months.


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