Insider Selling: Neurocrine Biosciences (NASDAQ:NBIX) Director Sells $590,588.10 in Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Director Leslie Norwalk sold 3,810 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $155.01, for a total value of $590,588.10. Following the completion of the sale, the director owned 2,429 shares of the company’s stock, valued at approximately $376,519.29. The trade was a 61.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Neurocrine Biosciences Stock Down 0.4%

Shares of NBIX opened at $158.42 on Friday. The business has a 50-day simple moving average of $134.05 and a two-hundred day simple moving average of $138.46. The stock has a market cap of $15.93 billion, a price-to-earnings ratio of 24.41, a PEG ratio of 1.19 and a beta of 0.34. Neurocrine Biosciences, Inc. has a 52 week low of $117.59 and a 52 week high of $162.39.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Wednesday, February 11th. The company reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.48). The company had revenue of $805.50 million during the quarter, compared to analysts’ expectations of $804.21 million. Neurocrine Biosciences had a return on equity of 19.79% and a net margin of 21.55%.The business’s quarterly revenue was up 28.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.69 EPS. On average, equities analysts anticipate that Neurocrine Biosciences, Inc. will post 7.16 earnings per share for the current fiscal year.

Institutional Trading of Neurocrine Biosciences

Several institutional investors have recently made changes to their positions in NBIX. USA Financial Formulas purchased a new stake in shares of Neurocrine Biosciences during the fourth quarter worth about $25,000. Geneos Wealth Management Inc. grew its position in shares of Neurocrine Biosciences by 143.6% during the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after purchasing an additional 135 shares in the last quarter. Golden State Wealth Management LLC grew its position in shares of Neurocrine Biosciences by 120.5% during the third quarter. Golden State Wealth Management LLC now owns 183 shares of the company’s stock worth $26,000 after purchasing an additional 100 shares in the last quarter. Eastern Bank purchased a new stake in shares of Neurocrine Biosciences during the third quarter worth about $27,000. Finally, DJE Kapital AG bought a new position in Neurocrine Biosciences during the fourth quarter valued at approximately $28,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on NBIX shares. JPMorgan Chase & Co. upped their price target on Neurocrine Biosciences from $177.00 to $185.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Canaccord Genuity Group upped their price target on Neurocrine Biosciences from $164.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, April 7th. Wall Street Zen upgraded Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 25th. HC Wainwright upped their price target on Neurocrine Biosciences from $192.00 to $215.00 and gave the stock a “buy” rating in a research report on Tuesday, April 7th. Finally, Citigroup increased their target price on Neurocrine Biosciences from $242.00 to $246.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Neurocrine Biosciences has a consensus rating of “Moderate Buy” and a consensus target price of $184.15.

About Neurocrine Biosciences

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.