Julie Cooke Sells 36,937 Shares of Neurocrine Biosciences (NASDAQ:NBIX) Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) insider Julie Cooke sold 36,937 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $156.22, for a total transaction of $5,770,298.14. Following the completion of the sale, the insider owned 22,374 shares of the company’s stock, valued at $3,495,266.28. This trade represents a 62.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Neurocrine Biosciences Stock Performance

Shares of NBIX stock traded up $2.24 on Thursday, hitting $167.35. The stock had a trading volume of 1,301,765 shares, compared to its average volume of 1,185,547. The firm has a market capitalization of $16.83 billion, a price-to-earnings ratio of 25.79, a P/E/G ratio of 1.16 and a beta of 0.40. Neurocrine Biosciences, Inc. has a 52-week low of $122.14 and a 52-week high of $169.57. The stock’s 50 day moving average is $141.29 and its 200-day moving average is $139.38.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. USA Financial Formulas purchased a new position in Neurocrine Biosciences in the fourth quarter valued at about $25,000. DJE Kapital AG bought a new stake in shares of Neurocrine Biosciences in the fourth quarter worth $28,000. Geneos Wealth Management Inc. grew its stake in shares of Neurocrine Biosciences by 143.6% in the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after acquiring an additional 135 shares in the last quarter. Meeder Asset Management Inc. boosted its position in Neurocrine Biosciences by 651.6% during the 4th quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock worth $33,000 after buying an additional 202 shares during the period. Finally, Cassaday & Co Wealth Management LLC bought a new position in Neurocrine Biosciences during the first quarter worth $33,000. 92.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NBIX has been the topic of a number of recent analyst reports. Canaccord Genuity Group raised 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. Morgan Stanley upped their target price on Neurocrine Biosciences from $185.00 to $191.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Wells Fargo & Company cut their price objective on Neurocrine Biosciences from $180.00 to $175.00 and set an “overweight” rating for the company in a report on Friday, February 13th. Piper Sandler boosted their target price on Neurocrine Biosciences from $190.00 to $207.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $185.00 price objective on shares of Neurocrine Biosciences in a research report on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $187.52.

Neurocrine Biosciences Company Profile

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.