Richard Pops Sells 15,000 Shares of Neurocrine Biosciences (NASDAQ:NBIX) Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Director Richard Pops sold 15,000 shares of the company’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $157.65, for a total value of $2,364,750.00. Following the sale, the director directly owned 34,480 shares of the company’s stock, valued at approximately $5,435,772. This represents a 30.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Neurocrine Biosciences Stock Down 0.8%

Shares of NASDAQ NBIX traded down $1.21 during mid-day trading on Monday, hitting $157.21. 1,127,630 shares of the company traded hands, compared to its average volume of 1,182,389. Neurocrine Biosciences, Inc. has a 1 year low of $117.59 and a 1 year high of $162.39. The stock has a market capitalization of $15.81 billion, a price-to-earnings ratio of 24.22, a PEG ratio of 1.19 and a beta of 0.34. The business has a 50 day moving average of $134.05 and a two-hundred day moving average of $138.39.

Institutional Investors Weigh In On Neurocrine Biosciences

Several hedge funds have recently bought and sold shares of the business. Royal Bank of Canada lifted its stake in Neurocrine Biosciences by 6.8% in the 1st quarter. Royal Bank of Canada now owns 332,300 shares of the company’s stock worth $43,777,000 after acquiring an additional 21,288 shares in the last quarter. Rock Springs Capital Management LP increased its position in Neurocrine Biosciences by 19.9% in the 1st quarter. Rock Springs Capital Management LP now owns 150,450 shares of the company’s stock worth $19,820,000 after purchasing an additional 24,950 shares during the last quarter. Empowered Funds LLC increased its position in Neurocrine Biosciences by 1,823.3% in the 1st quarter. Empowered Funds LLC now owns 83,971 shares of the company’s stock worth $11,062,000 after purchasing an additional 79,605 shares during the last quarter. Quantinno Capital Management LP increased its position in Neurocrine Biosciences by 157.5% in the 1st quarter. Quantinno Capital Management LP now owns 69,499 shares of the company’s stock worth $9,156,000 after purchasing an additional 42,508 shares during the last quarter. Finally, Lazard Asset Management LLC increased its position in Neurocrine Biosciences by 91.7% in the 1st quarter. Lazard Asset Management LLC now owns 124,479 shares of the company’s stock worth $16,399,000 after purchasing an additional 59,554 shares during the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Royal Bank Of Canada increased their price objective on Neurocrine Biosciences from $176.00 to $180.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th. Zacks Research raised Neurocrine Biosciences from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 15th. Piper Sandler increased their price objective on Neurocrine Biosciences from $190.00 to $207.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Wolfe Research assumed coverage on Neurocrine Biosciences in a research note on Tuesday, February 24th. They issued an “outperform” rating and a $160.00 price objective for the company. Finally, UBS Group reduced their price objective on Neurocrine Biosciences from $188.00 to $178.00 and set a “buy” rating for the company in a research note on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Neurocrine Biosciences has an average rating of “Moderate Buy” and an average target price of $184.15.

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.