David Boyer Sells 826 Shares of Neurocrine Biosciences (NASDAQ:NBIX) Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) insider David Boyer sold 826 shares of the firm’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $157.45, for a total transaction of $130,053.70. Following the completion of the transaction, the insider directly owned 8,722 shares in the company, valued at $1,373,278.90. This represents a 8.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Neurocrine Biosciences Stock Performance

Neurocrine Biosciences stock traded down $7.20 during trading hours on Tuesday, hitting $150.02. The company had a trading volume of 1,332,090 shares, compared to its average volume of 1,192,526. The firm has a market cap of $15.25 billion, a P/E ratio of 22.00, a P/E/G ratio of 0.73 and a beta of 0.38. Neurocrine Biosciences, Inc. has a 1 year low of $122.14 and a 1 year high of $186.12. The company has a 50-day moving average price of $164.12 and a two-hundred day moving average price of $151.60.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its earnings results on Friday, July 31st. The company reported $2.85 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $1.20. The business had revenue of $959.00 million for the quarter, compared to the consensus estimate of $891.16 million. Neurocrine Biosciences had a net margin of 20.91% and a return on equity of 22.43%. The company’s revenue for the quarter was up 39.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.65 EPS. As a group, equities research analysts anticipate that Neurocrine Biosciences, Inc. will post 7.25 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NBIX. The Goldman Sachs Group started coverage on Neurocrine Biosciences in a research note on Tuesday, June 2nd. They issued a “buy” rating and a $213.00 price objective on the stock. TD Cowen lifted their target price on Neurocrine Biosciences from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Stifel Nicolaus upped their target price on Neurocrine Biosciences from $188.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Royal Bank Of Canada reissued an “outperform” rating and set a $198.00 price target on shares of Neurocrine Biosciences in a research report on Tuesday, September 8th. Finally, Wells Fargo & Company raised their price target on Neurocrine Biosciences from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Neurocrine Biosciences presently has an average rating of “Moderate Buy” and a consensus price target of $201.09.

Hedge Funds Weigh In On Neurocrine Biosciences

A number of hedge funds and other institutional investors have recently modified their holdings of NBIX. Sequoia Financial Advisors LLC lifted its holdings in Neurocrine Biosciences by 31.0% during the second quarter. Sequoia Financial Advisors LLC now owns 6,351 shares of the company’s stock worth $1,070,000 after buying an additional 1,502 shares during the period. Tidal Investments LLC boosted its position in Neurocrine Biosciences by 186.7% during the 2nd quarter. Tidal Investments LLC now owns 81,460 shares of the company’s stock valued at $13,729,000 after acquiring an additional 53,045 shares in the last quarter. WINTON GROUP Ltd purchased a new position in shares of Neurocrine Biosciences in the 2nd quarter valued at $270,000. Engineers Gate Manager LP increased its holdings in shares of Neurocrine Biosciences by 64.0% in the 2nd quarter. Engineers Gate Manager LP now owns 18,361 shares of the company’s stock valued at $3,094,000 after acquiring an additional 7,163 shares during the period. Finally, RFG Advisory LLC purchased a new position in shares of Neurocrine Biosciences in the 2nd quarter valued at $1,381,000. 92.59% of the stock is currently owned by institutional investors.

About Neurocrine Biosciences

Neurocrine Biosciences, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for neurological, neuroendocrine and psychiatric disorders. The company develops therapies for conditions with significant unmet medical needs, using expertise in neuroscience and endocrine biology.

Its primary commercial product is INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor approved in the United States for the treatment of tardive dyskinesia and chorea associated with Huntington’s disease.