Neurocrine Biosciences (NASDAQ:NBIX) Insider Sells $1,710,830.00 in Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) insider Jude Onyia sold 11,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $155.53, for a total transaction of $1,710,830.00. Following the completion of the transaction, the insider directly owned 25,846 shares of the company’s stock, valued at $4,019,828.38. This trade represents a 29.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Neurocrine Biosciences Stock Performance

Neurocrine Biosciences stock traded up $1.91 during mid-day trading on Friday, reaching $158.30. 1,907,756 shares of the company were exchanged, compared to its average volume of 1,178,075. The firm has a market cap of $15.92 billion, a P/E ratio of 24.39, a PEG ratio of 1.17 and a beta of 0.34. The business has a fifty day moving average of $138.81 and a 200 day moving average of $139.02. Neurocrine Biosciences, Inc. has a 12-month low of $121.42 and a 12-month high of $162.39.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in NBIX. USA Financial Formulas acquired a new position in shares of Neurocrine Biosciences during the fourth quarter valued at about $25,000. Golden State Wealth Management LLC boosted its stake in Neurocrine Biosciences by 120.5% in the 3rd 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. DJE Kapital AG acquired a new stake in Neurocrine Biosciences in the 4th quarter worth approximately $28,000. Geneos Wealth Management Inc. grew its position in Neurocrine Biosciences by 143.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after purchasing an additional 135 shares during the last quarter. Finally, Meeder Asset Management Inc. grew 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 purchasing an additional 202 shares during the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on NBIX shares. Needham & Company LLC reaffirmed a “buy” rating and set a $185.00 price objective on shares of Neurocrine Biosciences in a research report on Monday, April 6th. Piper Sandler lifted their target price on Neurocrine Biosciences from $190.00 to $207.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Citigroup lifted their target price on Neurocrine Biosciences from $242.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Canaccord Genuity Group lifted their target price on Neurocrine Biosciences from $164.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, April 7th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Neurocrine Biosciences in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Neurocrine Biosciences presently has a consensus rating of “Moderate Buy” and a consensus price target of $186.05.

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.