Matt Abernethy Sells 1,178 Shares of Neurocrine Biosciences, Inc. (NBIX) Stock

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Neurocrine Biosciences, Inc. (NASDAQ:NBIX) CFO Matt Abernethy sold 1,178 shares of Neurocrine Biosciences stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $90.00, for a total transaction of $106,020.00. Following the completion of the sale, the chief financial officer now owns 1,947 shares in the company, valued at approximately $175,230. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

NBIX opened at $84.18 on Friday. The stock has a market cap of $7.89 billion, a P/E ratio of 1,739.40, a price-to-earnings-growth ratio of 22.25 and a beta of 0.90. Neurocrine Biosciences, Inc. has a twelve month low of $68.22 and a twelve month high of $126.98.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Monday, November 5th. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. The firm had revenue of $151.80 million for the quarter, compared to analyst estimates of $151.51 million. Neurocrine Biosciences had a net margin of 2.40% and a return on equity of 2.54%. Neurocrine Biosciences’s quarterly revenue was up 149.7% on a year-over-year basis. During the same period in the previous year, the business posted ($0.13) earnings per share. Analysts anticipate that Neurocrine Biosciences, Inc. will post 0.19 EPS for the current fiscal year.

NBIX has been the topic of several research analyst reports. Leerink Swann initiated coverage on shares of Neurocrine Biosciences in a research report on Monday, November 12th. They issued a “market perform” rating and a $110.00 target price on the stock. BidaskClub lowered shares of Neurocrine Biosciences from a “buy” rating to a “hold” rating in a research report on Saturday, September 15th. ValuEngine lowered shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 15th. Morgan Stanley dropped their target price on shares of Neurocrine Biosciences from $145.00 to $135.00 and set a “buy” rating on the stock in a research report on Tuesday, November 6th. Finally, Cantor Fitzgerald initiated coverage on shares of Neurocrine Biosciences in a research report on Friday, September 14th. They issued a “buy” rating and a $150.00 target price on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and seventeen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $124.88.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Financial Architects Inc boosted its position in Neurocrine Biosciences by 283.7% during the third quarter. Financial Architects Inc now owns 1,385 shares of the company’s stock worth $170,000 after acquiring an additional 1,024 shares during the last quarter. Principal Financial Group Inc. boosted its position in Neurocrine Biosciences by 1.6% during the first quarter. Principal Financial Group Inc. now owns 78,956 shares of the company’s stock worth $6,547,000 after acquiring an additional 1,234 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in Neurocrine Biosciences during the third quarter worth about $234,000. Cubist Systematic Strategies LLC acquired a new position in Neurocrine Biosciences during the second quarter worth about $216,000. Finally, Swiss National Bank boosted its position in Neurocrine Biosciences by 1.8% during the second quarter. Swiss National Bank now owns 156,500 shares of the company’s stock worth $15,375,000 after acquiring an additional 2,800 shares during the last quarter. Hedge funds and other institutional investors own 96.88% of the company’s stock.

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About Neurocrine Biosciences

Neurocrine Biosciences, Inc discovers and develops pharmaceuticals for the treatment of neurological and endocrine-related diseases and disorders in the United States. The company's lead products include INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor (VMAT2), which is used for the treatment of movement disorders; elagolix, a gonadotropin-releasing hormone (GnRH) antagonist that is in Phase III clinical trial for use in women's health; and opicapone, a catechol-O-methyltransferase inhibitor, which is in Phase III clinical trial that is used for in adjunct therapy and preparations of levodopa/DOPA decarboxylase inhibitors for adult patients with Parkinson's disease.

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