Leslie Norwalk Sells 1,250 Shares of Neurocrine Biosciences (NASDAQ:NBIX) Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Director Leslie Norwalk sold 1,250 shares of the stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $168.06, for a total value of $210,075.00. Following the sale, the director owned 2,838 shares of the company’s stock, valued at $476,954.28. This trade represents a 30.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ:NBIX opened at $165.24 on Wednesday. Neurocrine Biosciences, Inc. has a one year low of $122.14 and a one year high of $169.57. The stock has a fifty day moving average of $144.09 and a 200-day moving average of $140.05. The company has a market capitalization of $16.61 billion, a PE ratio of 25.46, a price-to-earnings-growth ratio of 1.22 and a beta of 0.40.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Leerink Partners increased their price objective on Neurocrine Biosciences from $160.00 to $170.00 and gave the company an “outperform” rating in a research report on Wednesday, April 22nd. Wolfe Research assumed coverage on Neurocrine Biosciences in a research report on Tuesday, February 24th. They set an “outperform” rating and a $160.00 price objective for the company. Sanford C. Bernstein assumed coverage on Neurocrine Biosciences in a research report on Friday, May 22nd. They set an “outperform” rating and a $221.00 price objective for the company. Wall Street Zen upgraded Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 25th. Finally, Zacks Research upgraded Neurocrine Biosciences from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $187.52.

Institutional Trading of Neurocrine Biosciences

Hedge funds and other institutional investors have recently modified their holdings of the company. Nilsine Partners LLC purchased a new stake in shares of Neurocrine Biosciences during the fourth quarter worth $1,197,000. Ruffer LLP purchased a new stake in shares of Neurocrine Biosciences during the fourth quarter worth $2,479,000. Korea Investment CORP raised its holdings in shares of Neurocrine Biosciences by 94.3% during the third quarter. Korea Investment CORP now owns 71,689 shares of the company’s stock worth $10,064,000 after acquiring an additional 34,800 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Neurocrine Biosciences by 2.4% during the third quarter. Envestnet Asset Management Inc. now owns 202,846 shares of the company’s stock worth $28,476,000 after acquiring an additional 4,807 shares in the last quarter. Finally, Nordea Investment Management AB increased its position in Neurocrine Biosciences by 81.3% during the fourth quarter. Nordea Investment Management AB now owns 27,202 shares of the company’s stock worth $3,834,000 after buying an additional 12,195 shares during the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

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.