Leslie Norwalk Sells 3,810 Shares of Neurocrine Biosciences (NASDAQ:NBIX) Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Director Leslie Norwalk sold 3,810 shares of Neurocrine Biosciences stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $155.01, for a total transaction of $590,588.10. Following the transaction, the director owned 2,429 shares in the company, valued at $376,519.29. The trade was a 61.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Neurocrine Biosciences Trading Down 0.4%

NASDAQ:NBIX opened at $158.42 on Friday. The firm has a market capitalization of $15.93 billion, a price-to-earnings ratio of 24.41, a PEG ratio of 1.19 and a beta of 0.34. The firm’s fifty day simple moving average is $134.05 and its 200 day simple moving average is $138.46. Neurocrine Biosciences, Inc. has a twelve month low of $117.59 and a twelve month high of $162.39.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings results on Wednesday, February 11th. The company reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.36 by ($0.48). Neurocrine Biosciences had a return on equity of 19.79% and a net margin of 21.55%.The firm had revenue of $805.50 million for the quarter, compared to analysts’ expectations of $804.21 million. During the same period last year, the firm earned $1.69 EPS. The business’s quarterly revenue was up 28.3% on a year-over-year basis. On average, analysts predict that Neurocrine Biosciences, Inc. will post 7.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Wolfe Research assumed coverage on shares of Neurocrine Biosciences in a research note on Tuesday, February 24th. They set an “outperform” rating and a $160.00 price target on the stock. Canaccord Genuity Group lifted their price target on shares of Neurocrine Biosciences from $164.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, April 7th. Truist Financial lifted their price target on shares of Neurocrine Biosciences from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Royal Bank Of Canada lifted their price target on shares of Neurocrine Biosciences from $176.00 to $180.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th. Finally, UBS Group dropped their price target on shares of Neurocrine Biosciences from $188.00 to $178.00 and set a “buy” rating on the stock in a research note on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Neurocrine Biosciences has an average rating of “Moderate Buy” and an average target price of $184.15.

Institutional Investors Weigh In On Neurocrine Biosciences

Several hedge funds and other institutional investors have recently modified their holdings of NBIX. USA Financial Formulas bought a new stake in shares of Neurocrine Biosciences in the 4th quarter worth about $25,000. Geneos Wealth Management Inc. increased its position in shares of Neurocrine Biosciences by 143.6% in 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. Golden State Wealth Management LLC increased its position in shares of 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 during the last quarter. Eastern Bank bought a new stake in shares of Neurocrine Biosciences in the 3rd quarter worth about $27,000. Finally, DJE Kapital AG bought a new stake in shares of Neurocrine Biosciences in the 4th quarter worth about $28,000. 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.