Neurocrine Biosciences (NASDAQ:NBIX) Insider Sells $354,321.31 in Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) insider Ingrid Delaet sold 2,261 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $156.71, for a total transaction of $354,321.31. Following the completion of the sale, the insider directly owned 16,225 shares of the company’s stock, valued at $2,542,619.75. This represents a 12.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Neurocrine Biosciences Stock Up 1.4%

NBIX stock opened at $167.35 on Friday. The company has a market capitalization of $16.83 billion, a price-to-earnings ratio of 25.79, a P/E/G ratio of 1.24 and a beta of 0.40. Neurocrine Biosciences, Inc. has a 12 month low of $122.14 and a 12 month high of $169.57. The firm has a 50 day moving average of $142.08 and a two-hundred day moving average of $139.54.

Analysts Set New Price Targets

NBIX has been the subject of several recent analyst reports. Leerink Partners upped their price objective on shares of Neurocrine Biosciences from $160.00 to $170.00 and gave the stock an “outperform” rating in a report on Wednesday, April 22nd. Wolfe Research initiated coverage on shares of Neurocrine Biosciences in a report on Tuesday, February 24th. They set an “outperform” rating and a $160.00 price objective for the company. Guggenheim reaffirmed a “buy” rating and set a $175.00 price objective on shares of Neurocrine Biosciences in a report on Wednesday, May 6th. Citigroup upped their price objective on shares of Neurocrine Biosciences from $242.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Finally, Piper Sandler upped their price objective on shares of Neurocrine Biosciences from $190.00 to $207.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $187.52.

Hedge Funds Weigh In On Neurocrine Biosciences

Several large investors have recently bought and sold shares of NBIX. 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 valued at $388,435,000 after purchasing an additional 1,263,633 shares during the last quarter. Norges Bank acquired a new position in Neurocrine Biosciences during the 4th quarter valued at $162,664,000. UBS Group AG raised its stake in Neurocrine Biosciences by 169.8% during the 4th quarter. UBS Group AG now owns 983,528 shares of the company’s stock valued at $139,494,000 after purchasing an additional 618,956 shares during the last quarter. First Trust Advisors LP raised its stake in Neurocrine Biosciences by 97.0% during the 1st quarter. First Trust Advisors LP now owns 959,217 shares of the company’s stock valued at $126,367,000 after purchasing an additional 472,408 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Neurocrine Biosciences by 11.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,730,152 shares of the company’s stock valued at $664,019,000 after purchasing an additional 468,405 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

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.