Neurocrine Biosciences (NASDAQ:NBIX) Insider Sells $354,321.31 in Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) insider Ingrid Delaet sold 2,261 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $156.71, for a total transaction of $354,321.31. Following the completion of the transaction, the insider owned 16,225 shares in the company, valued at approximately $2,542,619.75. This represents a 12.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Neurocrine Biosciences Price Performance

Shares of NBIX stock traded down $6.16 during trading hours on Tuesday, hitting $154.84. The company had a trading volume of 1,039,465 shares, compared to its average volume of 1,177,157. The company’s fifty day moving average is $139.98 and its 200 day moving average is $139.18. Neurocrine Biosciences, Inc. has a fifty-two week low of $122.14 and a fifty-two week high of $162.39. The stock has a market capitalization of $15.57 billion, a PE ratio of 23.86, a price-to-earnings-growth ratio of 1.19 and a beta of 0.39.

Analysts Set New Price Targets

Several brokerages have recently commented on NBIX. Canaccord Genuity Group upped their price objective on shares of Neurocrine Biosciences from $164.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, April 7th. Needham & Company LLC reiterated a “buy” rating and set a $185.00 target price on shares of Neurocrine Biosciences in a report on Monday, April 6th. HC Wainwright increased their target price on shares of Neurocrine Biosciences from $192.00 to $215.00 and gave the stock a “buy” rating in a report on Tuesday, April 7th. Wolfe Research assumed coverage on shares of Neurocrine Biosciences in a report on Tuesday, February 24th. They set an “outperform” rating and a $160.00 target price on the stock. Finally, Piper Sandler increased their price objective on shares of Neurocrine Biosciences from $190.00 to $207.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Neurocrine Biosciences presently has an average rating of “Moderate Buy” and a consensus target price of $187.52.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NBIX. USA Financial Formulas purchased a new position in Neurocrine Biosciences in the fourth quarter worth $25,000. Geneos Wealth Management Inc. raised its position in Neurocrine Biosciences by 143.6% in the first 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. DJE Kapital AG purchased a new position in Neurocrine Biosciences in the fourth quarter worth $28,000. Cassaday & Co Wealth Management LLC purchased a new position in Neurocrine Biosciences in the first quarter worth $33,000. Finally, Meeder Asset Management Inc. raised its position in Neurocrine Biosciences by 651.6% in the fourth quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock worth $33,000 after acquiring an additional 202 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

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.