Insider Selling: Neurocrine Biosciences (NASDAQ:NBIX) Insider Sells 4,376 Shares of Stock

by · The Cerbat Gem

Neurocrine Biosciences, Inc. (NASDAQ:NBIX – Get Free Report) insider Darin Lippoldt sold 4,376 shares of the stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $159.65, for a total transaction of $698,628.40. Following the completion of the transaction, the insider owned 43,405 shares in the company, valued at approximately $6,929,608.25. This trade represents a 9.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Neurocrine Biosciences Price Performance

NASDAQ:NBIX opened at $155.97 on Wednesday. The company’s fifty day moving average price is $144.31 and its 200-day moving average price is $136.65. The firm has a market capitalization of $15.55 billion, a P/E ratio of 37.26, a PEG ratio of 1.02 and a beta of 0.27. Neurocrine Biosciences, Inc. has a 1-year low of $84.23 and a 1-year high of $160.18.

Neurocrine Biosciences (NASDAQ:NBIX – Get Free Report) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.59. Neurocrine Biosciences had a return on equity of 15.82% and a net margin of 15.95%.The company had revenue of $794.90 million during the quarter, compared to analysts’ expectations of $746.61 million. During the same period last year, the business earned $1.81 earnings per share. Neurocrine Biosciences’s quarterly revenue was up 27.8% on a year-over-year basis. Equities analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. TD Cowen raised their target price on Neurocrine Biosciences from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, December 5th. Zacks Research raised shares of Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 15th. Needham & Company LLC lifted their price objective on Neurocrine Biosciences from $170.00 to $184.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. JPMorgan Chase & Co. raised their target price on Neurocrine Biosciences from $171.00 to $179.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. Finally, Truist Financial reissued a “buy” rating and issued a $172.00 price objective (up from $165.00) on shares of Neurocrine Biosciences in a research note on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $173.00.

Read Our Latest Analysis on Neurocrine Biosciences

Institutional Trading of Neurocrine Biosciences

A number of hedge funds and other institutional investors have recently modified their holdings of NBIX. Tudor Investment Corp ET AL boosted its position in shares of Neurocrine Biosciences by 805.3% during the 3rd quarter. Tudor Investment Corp ET AL now owns 26,860 shares of the company’s stock valued at $3,771,000 after acquiring an additional 23,893 shares during the last quarter. Allworth Financial LP increased its position in Neurocrine Biosciences by 68.1% during the third quarter. Allworth Financial LP now owns 5,009 shares of the company’s stock worth $703,000 after purchasing an additional 2,029 shares during the last quarter. IFP Advisors Inc raised its stake in Neurocrine Biosciences by 14.0% during the third quarter. IFP Advisors Inc now owns 2,475 shares of the company’s stock worth $347,000 after purchasing an additional 303 shares during the period. Swiss Life Asset Management Ltd boosted its holdings in Neurocrine Biosciences by 31.9% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 17,767 shares of the company’s stock valued at $2,494,000 after purchasing an additional 4,293 shares during the last quarter. Finally, CIBC Private Wealth Group LLC grew its stake in shares of Neurocrine Biosciences by 17,250.0% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 7,981 shares of the company’s stock valued at $1,120,000 after buying an additional 7,935 shares during the period. 92.59% of the stock is owned by institutional investors and hedge funds.

About Neurocrine Biosciences

(Get Free Report)

Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, neuroendocrine, and neuropsychiatric disorders in the United States and internationally. The company’s products include INGREZZA for tardive dyskinesia and chorea associated with Huntington’s disease; ALKINDI for adrenal insufficiency; Efmody capsules for classic congenital adrenal hyperplasia; Orilissa tablets for endometriosis; and Oriahnn capsules to treat uterine fibroids.

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