Neurocrine Biosciences (NASDAQ:NBIX) Director Leslie Norwalk Sells 1,250 Shares of Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Director Leslie Norwalk sold 1,250 shares of Neurocrine Biosciences stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $168.06, for a total transaction of $210,075.00. Following the sale, the director directly owned 2,838 shares of the company’s stock, valued at $476,954.28. This represents a 30.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Neurocrine Biosciences Stock Performance

NASDAQ NBIX opened at $163.12 on Tuesday. Neurocrine Biosciences, Inc. has a 52-week low of $122.14 and a 52-week high of $169.57. The company has a market capitalization of $16.40 billion, a P/E ratio of 25.13, a P/E/G ratio of 1.23 and a beta of 0.39. The company has a fifty day moving average of $143.35 and a 200-day moving average of $139.85.

Hedge Funds Weigh In On Neurocrine Biosciences

A number of hedge funds have recently modified their holdings of NBIX. USA Financial Formulas purchased a new position in shares of Neurocrine Biosciences in the fourth quarter valued at about $25,000. Geneos Wealth Management Inc. increased its position in shares of Neurocrine Biosciences by 143.6% in the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after acquiring an additional 135 shares during the period. DJE Kapital AG purchased a new position in shares of Neurocrine Biosciences in the fourth quarter valued at about $28,000. Cassaday & Co Wealth Management LLC purchased a new position in shares of Neurocrine Biosciences in the first quarter valued at about $33,000. Finally, Meeder Asset Management Inc. increased its position in shares of Neurocrine Biosciences by 651.6% in the fourth quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock valued at $33,000 after acquiring an additional 202 shares during the period. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on NBIX shares. JPMorgan Chase & Co. boosted their price target on shares of Neurocrine Biosciences from $177.00 to $185.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Wedbush boosted their price target on shares of Neurocrine Biosciences from $166.00 to $176.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th. Needham & Company LLC reissued a “buy” rating and issued a $185.00 price target on shares of Neurocrine Biosciences in a research note on Monday, April 6th. Wall Street Zen raised shares of Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 25th. Finally, Weiss Ratings raised shares of Neurocrine Biosciences from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $187.52.

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.