Insider Selling: Neurocrine Biosciences (NASDAQ:NBIX) Director Sells 245,088 Shares of Stock

by · The Cerbat Gem

Neurocrine Biosciences, Inc. (NASDAQ:NBIX – Get Free Report) Director Kevin Charles Gorman sold 245,088 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $154.33, for a total value of $37,824,431.04. Following the transaction, the director owned 511,293 shares in the company, valued at $78,907,848.69. This trade represents a 32.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Neurocrine Biosciences Trading Up 0.5%

Shares of NBIX stock traded up $0.83 during midday trading on Thursday, reaching $155.50. 1,037,006 shares of the stock were exchanged, compared to its average volume of 1,182,849. The firm has a market cap of $15.64 billion, a PE ratio of 23.96, a price-to-earnings-growth ratio of 1.16 and a beta of 0.34. The company’s 50 day moving average is $135.62 and its two-hundred day moving average is $138.69. Neurocrine Biosciences, Inc. has a 1 year low of $117.59 and a 1 year high of $162.39.

Analyst Ratings Changes

A number of equities research analysts have weighed in on NBIX shares. UBS Group cut their price objective on shares of Neurocrine Biosciences from $188.00 to $178.00 and set a “buy” rating on the stock in a report on Friday, January 23rd. Needham & Company LLC reiterated a “buy” rating and set a $185.00 price objective on shares of Neurocrine Biosciences in a research note on Monday, April 6th. Canaccord Genuity Group lifted their price objective on Neurocrine Biosciences from $164.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, April 7th. Truist Financial increased their price objective on shares of Neurocrine Biosciences from $140.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Finally, Zacks Research raised shares of Neurocrine Biosciences from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $184.15.

Get Our Latest Stock Report on Neurocrine Biosciences

Institutional Trading of Neurocrine Biosciences

Several large investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC raised its stake in Neurocrine Biosciences by 83.7% during the 3rd quarter. AQR Capital Management LLC now owns 2,773,648 shares of the company’s stock worth $388,435,000 after acquiring an additional 1,263,633 shares during the period. Norges Bank bought a new stake in shares of Neurocrine Biosciences during the 4th quarter valued at $162,664,000. UBS Group AG boosted its stake in shares of Neurocrine Biosciences by 169.8% in the fourth quarter. UBS Group AG now owns 983,528 shares of the company’s stock worth $139,494,000 after acquiring an additional 618,956 shares during the period. First Trust Advisors LP boosted its stake in shares of Neurocrine Biosciences by 97.0% in the first quarter. First Trust Advisors LP now owns 959,217 shares of the company’s stock worth $126,367,000 after acquiring an additional 472,408 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Neurocrine Biosciences by 11.0% in the third quarter. JPMorgan Chase & Co. now owns 4,730,152 shares of the company’s stock worth $664,019,000 after acquiring an additional 468,405 shares during the period. 92.59% of the stock is currently owned by institutional investors.

About Neurocrine Biosciences

(Get Free Report)

Neurocrine Biosciences (NASDAQ: NBIX) is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research‐driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine’s operations encompass drug discovery, clinical development and commercialization activities.

The company’s lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.

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