Neurocrine Biosciences (NASDAQ:NBIX) Insider Sells 3,888 Shares

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) insider David Boyer sold 3,888 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $156.64, for a total value of $609,016.32. Following the sale, the insider directly owned 7,799 shares in the company, valued at $1,221,635.36. This trade represents a 33.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ:NBIX traded up $0.56 during midday trading on Thursday, reaching $156.39. The company had a trading volume of 1,068,307 shares, compared to its average volume of 1,170,854. The company has a fifty day simple moving average of $138.29 and a two-hundred day simple moving average of $138.99. The firm has a market cap of $15.73 billion, a price-to-earnings ratio of 24.10, a price-to-earnings-growth ratio of 1.17 and a beta of 0.34. Neurocrine Biosciences, Inc. has a 1-year low of $121.42 and a 1-year high of $162.39.

Hedge Funds Weigh In On Neurocrine Biosciences

A number of large investors have recently made changes to their positions in the business. Segall Bryant & Hamill LLC increased its holdings in shares of Neurocrine Biosciences by 0.8% in the 1st quarter. Segall Bryant & Hamill LLC now owns 56,934 shares of the company’s stock valued at $7,500,000 after purchasing an additional 464 shares during the period. Arete Wealth Advisors LLC acquired a new position in shares of Neurocrine Biosciences in the 1st quarter valued at about $3,037,000. Bank of America Corp DE boosted its position in Neurocrine Biosciences by 10.6% during the first quarter. Bank of America Corp DE now owns 583,827 shares of the company’s stock valued at $76,913,000 after purchasing an additional 55,723 shares during the last quarter. Edgestream Partners L.P. boosted its position in Neurocrine Biosciences by 134.1% during the first quarter. Edgestream Partners L.P. now owns 50,587 shares of the company’s stock valued at $6,664,000 after purchasing an additional 28,979 shares during the last quarter. Finally, Janus Henderson Group PLC grew its stake in Neurocrine Biosciences by 1.7% in the first quarter. Janus Henderson Group PLC now owns 466,977 shares of the company’s stock valued at $61,515,000 after purchasing an additional 7,801 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Royal Bank Of Canada boosted their price target on shares of Neurocrine Biosciences from $176.00 to $180.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Wall Street Zen raised shares of Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 25th. Needham & Company LLC reaffirmed a “buy” rating and issued a $185.00 price objective on shares of Neurocrine Biosciences in a research note on Monday, April 6th. HC Wainwright raised their price objective on shares of Neurocrine Biosciences from $192.00 to $215.00 and gave the stock a “buy” rating in a research note on Tuesday, April 7th. Finally, Wedbush raised their price objective on shares of Neurocrine Biosciences from $166.00 to $176.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Neurocrine Biosciences currently has an average rating of “Moderate Buy” and an average target price of $185.90.

Neurocrine Biosciences Company Profile

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.