Darin Lippoldt Sells 10,000 Shares of Neurocrine Biosciences (NASDAQ:NBIX) Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) insider Darin Lippoldt sold 10,000 shares of Neurocrine Biosciences stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $179.60, for a total value of $1,796,000.00. Following the completion of the sale, the insider owned 54,729 shares of the company’s stock, valued at $9,829,328.40. The trade was a 15.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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 stock was sold at an average price of $170.16, for a total value of $1,667,568.00.
• On Friday, June 26th, Darin Lippoldt sold 200 shares of Neurocrine Biosciences stock. The shares were sold at an average price of $169.56, for a total transaction of $33,912.00.

Neurocrine Biosciences Stock Down 1.2%

Shares of NASDAQ NBIX opened at $172.04 on Wednesday. The firm’s 50-day moving average price is $162.43 and its 200-day moving average price is $143.24. Neurocrine Biosciences, Inc. has a 52-week low of $122.14 and a 52-week high of $181.18. The company has a market cap of $17.30 billion, a PE ratio of 26.51, a PEG ratio of 0.69 and a beta of 0.39.

Key Headlines Impacting Neurocrine Biosciences

Here are the key news stories impacting Neurocrine Biosciences this week:

• Positive Sentiment: Truist Financial raised its price target on Neurocrine Biosciences (NBIX) to $200 from $155 and kept a buy rating, pointing to meaningful upside potential. Benzinga report on Truist price target increase
• Positive Sentiment: Zacks said NBIX could continue rising in the near term because of solid earnings estimate revisions, a sign that analysts are becoming more optimistic about the company’s outlook. Zacks article on rising earnings estimates
• Neutral Sentiment: BMO Capital Markets also lifted its price target on NBIX to $170 from $144, but kept a market perform rating, which is constructive but less bullish than Truist’s call. Benzinga report on BMO price target increase
• Negative Sentiment: Insiders Darin Lippoldt and Ingrid Delaet sold shares recently, which can weigh on sentiment even though the trades were made under pre-arranged 10b5-1 plans. Article on Darin Lippoldt sale Article on Ingrid Delaet sale

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 25th. Truist Financial raised their price target on Neurocrine Biosciences from $155.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday. Royal Bank Of Canada lifted their price objective on Neurocrine Biosciences from $183.00 to $195.00 and gave the stock an “outperform” rating in a report on Tuesday, July 7th. Morgan Stanley upped their price objective on Neurocrine Biosciences from $185.00 to $191.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. Finally, BMO Capital Markets increased their target price on Neurocrine Biosciences from $144.00 to $170.00 and gave the company a “market perform” rating in a report on Monday. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $191.67.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. USA Financial Formulas purchased a new stake in shares of Neurocrine Biosciences in the 4th quarter worth $25,000. Geneos Wealth Management Inc. lifted its position in Neurocrine Biosciences by 143.6% during the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after purchasing an additional 135 shares in the last quarter. DJE Kapital AG purchased a new position in Neurocrine Biosciences during the fourth quarter valued at $28,000. Basecamp Wealth Advisors LLC grew its holdings in Neurocrine Biosciences by 582.9% during the first quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company’s stock valued at $31,000 after purchasing an additional 204 shares during the period. Finally, Cassaday & Co Wealth Management LLC bought a new stake in Neurocrine Biosciences during the first quarter valued at about $33,000. 92.59% of the stock is currently owned by 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.