Neurocrine Biosciences (NASDAQ:NBIX) Insider Darin Lippoldt Sells 200 Shares of Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) insider Darin Lippoldt sold 200 shares of the stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $169.56, for a total value of $33,912.00. Following the completion of the sale, the insider directly owned 54,729 shares of the company’s stock, valued at approximately $9,279,849.24. This trade represents a 0.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Darin Lippoldt also recently made the following trade(s):

• On Monday, June 29th, Darin Lippoldt sold 9,800 shares of Neurocrine Biosciences stock. The shares were sold at an average price of $170.16, for a total value of $1,667,568.00.

Neurocrine Biosciences Stock Down 0.9%

Shares of NASDAQ:NBIX opened at $168.54 on Wednesday. The business’s 50 day moving average is $153.53 and its 200 day moving average is $141.34. Neurocrine Biosciences, Inc. has a 12-month low of $122.14 and a 12-month high of $171.50. The stock has a market cap of $16.95 billion, a price-to-earnings ratio of 25.97, a PEG ratio of 0.68 and a beta of 0.40.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NBIX. The Goldman Sachs Group started coverage on shares of Neurocrine Biosciences in a research note on Tuesday, June 2nd. They issued a “buy” rating and a $213.00 target price for the company. Leerink Partners raised their price target on shares of Neurocrine Biosciences from $160.00 to $170.00 and gave the company an “outperform” rating in a research report on Wednesday, April 22nd. Guggenheim reaffirmed a “buy” rating and issued a $175.00 price objective on shares of Neurocrine Biosciences in a research report on Wednesday, May 6th. Canaccord Genuity Group increased their price objective on shares of Neurocrine Biosciences from $164.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, April 7th. Finally, Truist Financial lifted their target price on shares of Neurocrine Biosciences from $140.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $187.52.

Hedge Funds Weigh In On Neurocrine Biosciences

A number of institutional investors have recently made changes to their positions in NBIX. USA Financial Formulas bought a new stake in shares of Neurocrine Biosciences during the 4th quarter worth $25,000. DJE Kapital AG purchased a new stake in Neurocrine Biosciences during the fourth quarter valued at about $28,000. Geneos Wealth Management Inc. lifted its stake in 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 during the last quarter. Meeder Asset Management Inc. boosted its holdings in shares of Neurocrine Biosciences by 651.6% in 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 in the last quarter. Finally, Basecamp Wealth Advisors LLC boosted its holdings in shares of Neurocrine Biosciences by 582.9% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company’s stock worth $31,000 after purchasing an additional 204 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.

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.