William Rastetter Sells 18,000 Shares of Neurocrine Biosciences (NASDAQ:NBIX) Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Director William Rastetter sold 18,000 shares of the stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $151.82, for a total transaction of $2,732,760.00. Following the completion of the transaction, the director owned 40,360 shares of the company’s stock, valued at $6,127,455.20. This represents a 30.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Neurocrine Biosciences Stock Performance

Shares of NBIX stock traded up $1.05 during mid-day trading on Thursday, hitting $154.80. 944,420 shares of the stock traded hands, compared to its average volume of 1,171,950. Neurocrine Biosciences, Inc. has a twelve month low of $84.23 and a twelve month high of $157.67. The firm has a market cap of $15.43 billion, a price-to-earnings ratio of 37.03, a price-to-earnings-growth ratio of 0.94 and a beta of 0.22. The company’s 50-day simple moving average is $141.45 and its 200-day simple moving average is $130.70.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.46. 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 for the quarter, compared to analysts’ expectations of $746.61 million. During the same period last year, the firm earned $1.81 EPS. The firm’s revenue for the quarter was up 27.8% on a year-over-year basis. Analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Institutional Trading of Neurocrine Biosciences

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Abich Financial Wealth Management LLC bought a new stake in shares of Neurocrine Biosciences in the third quarter valued at about $90,000. Ground Swell Capital LLC bought a new stake in shares of Neurocrine Biosciences in the 3rd quarter worth approximately $564,000. Savvy Advisors Inc. bought a new stake in shares of Neurocrine Biosciences in the 3rd quarter worth approximately $242,000. Krilogy Financial LLC bought a new position in Neurocrine Biosciences in the third quarter worth $1,274,000. Finally, Wesbanco Bank Inc. bought a new position in Neurocrine Biosciences during the 3rd quarter valued at about $1,263,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NBIX has been the topic of several research reports. Wedbush reiterated an “outperform” rating on shares of Neurocrine Biosciences in a research report on Monday, September 22nd. Zacks Research upgraded shares of Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 15th. Wall Street Zen upgraded shares of Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 2nd. Royal Bank Of Canada lifted their target price on Neurocrine Biosciences from $156.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, October 29th. Finally, UBS Group lifted their target price on Neurocrine Biosciences from $188.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Neurocrine Biosciences currently has an average rating of “Moderate Buy” and a consensus target price of $170.26.

About Neurocrine Biosciences

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.