Insider Selling: Neurocrine Biosciences (NASDAQ:NBIX) Insider Sells $1,507,145.76 in Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) insider Ingrid Delaet sold 8,433 shares of the business’s stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $178.72, for a total value of $1,507,145.76. Following the sale, the insider owned 16,225 shares of the company’s stock, valued at approximately $2,899,732. This represents a 34.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Ingrid Delaet also recently made the following trade(s):

• On Tuesday, July 7th, Ingrid Delaet sold 3,401 shares of Neurocrine Biosciences stock. The shares were sold at an average price of $178.57, for a total value of $607,316.57.
• On Wednesday, July 8th, Ingrid Delaet sold 2,737 shares of Neurocrine Biosciences stock. The stock was sold at an average price of $178.54, for a total value of $488,663.98.
• On Friday, May 29th, Ingrid Delaet sold 2,261 shares of Neurocrine Biosciences stock. The stock was sold at an average price of $156.71, for a total value of $354,321.31.

Neurocrine Biosciences Price Performance

NBIX traded up $2.31 during trading on Thursday, hitting $180.55. The stock had a trading volume of 1,178,602 shares, compared to its average volume of 1,182,578. The company has a 50 day moving average price of $158.87 and a 200-day moving average price of $142.41. Neurocrine Biosciences, Inc. has a one year low of $122.14 and a one year high of $181.00. The firm has a market cap of $18.15 billion, a price-to-earnings ratio of 27.82, a P/E/G ratio of 0.71 and a beta of 0.39.

Institutional Trading of Neurocrine Biosciences

A number of institutional investors and hedge funds have recently made changes to their positions in NBIX. AQR Capital Management LLC increased its stake in Neurocrine Biosciences by 18.0% in the fourth quarter. AQR Capital Management LLC now owns 3,271,706 shares of the company’s stock valued at $462,652,000 after acquiring an additional 498,058 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Neurocrine Biosciences by 8.0% in the 1st quarter. Renaissance Technologies LLC now owns 2,418,897 shares of the company’s stock valued at $318,665,000 after purchasing an additional 180,100 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Neurocrine Biosciences by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 2,059,282 shares of the company’s stock valued at $291,342,000 after purchasing an additional 34,457 shares during the last quarter. Los Angeles Capital Management LLC raised its holdings in shares of Neurocrine Biosciences by 7.4% during the 4th quarter. Los Angeles Capital Management LLC now owns 1,291,278 shares of the company’s stock worth $178,248,000 after buying an additional 88,522 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Neurocrine Biosciences by 31.9% during the 4th quarter. Northern Trust Corp now owns 1,221,184 shares of the company’s stock worth $173,201,000 after buying an additional 295,470 shares during the last quarter. Institutional investors own 92.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NBIX. The Goldman Sachs Group assumed coverage on shares of Neurocrine Biosciences in a research report on Tuesday, June 2nd. They issued a “buy” rating and a $213.00 price target for the company. Sanford C. Bernstein assumed coverage on Neurocrine Biosciences in a research note on Friday, May 22nd. They set an “outperform” rating and a $221.00 price objective on the stock. Zacks Research raised Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 23rd. Truist Financial upped their target price on Neurocrine Biosciences from $140.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Finally, Wall Street Zen raised Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 25th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $188.10.

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.