Neurocrine Biosciences (NASDAQ:NBIX) Director Kevin Charles Gorman Sells 245,088 Shares of Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Director Kevin Charles Gorman sold 245,088 shares of Neurocrine Biosciences stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $154.33, for a total transaction of $37,824,431.04. Following the completion of the sale, the director owned 511,293 shares of the company’s stock, valued at $78,907,848.69. This trade represents a 32.40% decrease in their ownership of the stock. The transaction was disclosed in a filing 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 Up 0.5%

NBIX stock opened at $155.50 on Friday. The firm has a 50 day moving average of $136.13 and a 200 day moving average of $138.77. The stock has a market capitalization of $15.64 billion, a PE ratio of 23.96, a price-to-earnings-growth ratio of 1.16 and a beta of 0.34. Neurocrine Biosciences, Inc. has a 52 week low of $117.59 and a 52 week high of $162.39.

Hedge Funds Weigh In On Neurocrine Biosciences

Large investors have recently made changes to their positions in the company. USA Financial Formulas acquired a new position in shares of Neurocrine Biosciences in the 4th quarter valued at $25,000. Golden State Wealth Management LLC lifted its stake 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 valued at $26,000 after purchasing an additional 100 shares during the period. DJE Kapital AG acquired a new position in shares of Neurocrine Biosciences in the 4th quarter valued at $28,000. Geneos Wealth Management Inc. lifted its stake 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 valued at $25,000 after purchasing an additional 135 shares during the period. Finally, Meeder Asset Management Inc. lifted its stake in shares of Neurocrine Biosciences by 651.6% in the 4th quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock valued at $33,000 after purchasing an additional 202 shares during the period. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on NBIX. Guggenheim restated a “buy” rating and set a $175.00 price objective on shares of Neurocrine Biosciences in a research note on Wednesday, May 6th. Truist Financial lifted their price objective on shares of Neurocrine Biosciences from $140.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Royal Bank Of Canada lifted their price objective on shares of Neurocrine Biosciences from $176.00 to $180.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Needham & Company LLC restated a “buy” rating and set a $185.00 price objective on shares of Neurocrine Biosciences in a research note on Monday, April 6th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Neurocrine Biosciences in a research note on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $184.15.

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.