Insider Selling: Neurocrine Biosciences (NASDAQ:NBIX) Director Sells $4,133,000.00 in Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Director Stephen Sherwin sold 25,000 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $165.32, for a total transaction of $4,133,000.00. Following the sale, the director owned 15,860 shares of the company’s stock, valued at approximately $2,621,975.20. The trade was a 61.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Neurocrine Biosciences Stock Up 1.2%

NASDAQ NBIX opened at $162.71 on Friday. The company has a 50-day simple moving average of $145.35 and a two-hundred day simple moving average of $140.35. Neurocrine Biosciences, Inc. has a 12-month low of $122.14 and a 12-month high of $169.57. The firm has a market cap of $16.36 billion, a price-to-earnings ratio of 25.07, a PEG ratio of 1.21 and a beta of 0.40.

Hedge Funds Weigh In On Neurocrine Biosciences

Several hedge funds and other institutional investors have recently modified their holdings of the company. NewEdge Advisors LLC raised its stake in shares of Neurocrine Biosciences by 0.5% during the first quarter. NewEdge Advisors LLC now owns 13,066 shares of the company’s stock valued at $1,721,000 after acquiring an additional 68 shares during the last quarter. AlTi Global Inc. increased its position in shares of Neurocrine Biosciences by 1.0% during the third quarter. AlTi Global Inc. now owns 6,828 shares of the company’s stock valued at $959,000 after buying an additional 70 shares during the period. Huntington National Bank increased its position in shares of Neurocrine Biosciences by 12.6% during the fourth quarter. Huntington National Bank now owns 678 shares of the company’s stock valued at $96,000 after buying an additional 76 shares during the period. Perigon Wealth Management LLC increased its position in shares of Neurocrine Biosciences by 3.1% during the fourth quarter. Perigon Wealth Management LLC now owns 2,590 shares of the company’s stock valued at $367,000 after buying an additional 78 shares during the period. Finally, Motley Fool Asset Management LLC increased its position in shares of Neurocrine Biosciences by 4.8% during the fourth quarter. Motley Fool Asset Management LLC now owns 1,693 shares of the company’s stock valued at $240,000 after buying an additional 78 shares during the period. 92.59% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on NBIX shares. Morgan Stanley upped their price objective on shares of Neurocrine Biosciences from $185.00 to $191.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Truist Financial upped 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. Wedbush upped their price objective on shares of Neurocrine Biosciences from $166.00 to $176.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Piper Sandler upped their price objective on shares of Neurocrine Biosciences from $190.00 to $207.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Finally, HC Wainwright upped their price objective on shares of Neurocrine Biosciences from $192.00 to $215.00 and gave the company a “buy” rating in a research note on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Neurocrine Biosciences presently has an average rating of “Moderate Buy” and a consensus price target 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.