Jude Onyia Sells 11,000 Shares of Neurocrine Biosciences (NASDAQ:NBIX) Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) insider Jude Onyia sold 11,000 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $155.53, for a total transaction of $1,710,830.00. Following the completion of the sale, the insider owned 25,846 shares of the company’s stock, valued at $4,019,828.38. This trade represents a 29.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Neurocrine Biosciences Stock Up 1.2%

NASDAQ:NBIX traded up $1.91 during mid-day trading on Friday, hitting $158.30. 1,907,756 shares of the stock traded hands, compared to its average volume of 1,178,075. The stock has a market capitalization of $15.92 billion, a price-to-earnings ratio of 24.39, a PEG ratio of 1.17 and a beta of 0.34. Neurocrine Biosciences, Inc. has a 52 week low of $121.42 and a 52 week high of $162.39. The firm’s 50 day moving average is $138.81 and its two-hundred day moving average is $139.02.

Institutional Trading of Neurocrine Biosciences

Hedge funds and other institutional investors have recently bought and sold shares of the business. Royal Bank of Canada increased its holdings in Neurocrine Biosciences by 36.7% during the 1st quarter. Royal Bank of Canada now owns 82,810 shares of the company’s stock worth $9,158,000 after purchasing an additional 22,224 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Neurocrine Biosciences by 60.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,783 shares of the company’s stock worth $1,647,000 after purchasing an additional 5,577 shares during the period. NewEdge Advisors LLC raised its holdings in shares of Neurocrine Biosciences by 56.3% in the first quarter. NewEdge Advisors LLC now owns 7,630 shares of the company’s stock valued at $844,000 after acquiring an additional 2,747 shares in the last quarter. Empowered Funds LLC bought a new position in Neurocrine Biosciences during the 1st quarter worth about $1,333,000. Finally, Geneos Wealth Management Inc. grew its holdings in Neurocrine Biosciences by 143.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after acquiring an additional 135 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Guggenheim reaffirmed a “buy” rating and set a $175.00 target price on shares of Neurocrine Biosciences in a research note on Wednesday, May 6th. Weiss Ratings restated a “hold (c+)” rating on shares of Neurocrine Biosciences in a report on Tuesday, April 21st. Wolfe Research began coverage on Neurocrine Biosciences in a research report on Tuesday, February 24th. They issued an “outperform” rating and a $160.00 price objective on the stock. Citigroup increased their target price on Neurocrine Biosciences from $242.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Finally, Morgan Stanley increased their target price on Neurocrine Biosciences from $185.00 to $191.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $186.05.

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.