Neurocrine Biosciences (NASDAQ:NBIX) Insider Sells $488,663.98 in Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) insider Ingrid Delaet sold 2,737 shares of the firm’s stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $178.54, for a total transaction of $488,663.98. Following the sale, the insider owned 16,225 shares in the company, valued at approximately $2,896,811.50. This trade represents a 14.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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 stock was sold at an average price of $178.57, for a total transaction of $607,316.57.
• On Thursday, July 9th, Ingrid Delaet sold 8,433 shares of Neurocrine Biosciences stock. The stock was sold at an average price of $178.72, for a total transaction of $1,507,145.76.
• On Friday, May 29th, Ingrid Delaet sold 2,261 shares of Neurocrine Biosciences stock. The shares were sold at an average price of $156.71, for a total value of $354,321.31.

Neurocrine Biosciences Price Performance

NASDAQ NBIX traded up $2.31 during trading hours on Thursday, reaching $180.55. 1,178,602 shares of the stock traded hands, compared to its average volume of 1,182,578. The stock has a 50 day simple moving average of $158.87 and a two-hundred day simple moving average of $142.41. Neurocrine Biosciences, Inc. has a 1 year low of $122.14 and a 1 year high of $181.00. The company has a market cap of $18.15 billion, a price-to-earnings ratio of 27.82, a price-to-earnings-growth ratio of 0.71 and a beta of 0.39.

Analyst Ratings Changes

A number of brokerages recently weighed in on NBIX. Royal Bank Of Canada raised their price objective on Neurocrine Biosciences from $183.00 to $195.00 and gave the company an “outperform” rating in a report on Tuesday. Piper Sandler lifted their price target on shares of Neurocrine Biosciences from $190.00 to $207.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Morgan Stanley boosted their price objective on shares of Neurocrine Biosciences from $185.00 to $191.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 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, Canaccord Genuity Group raised their price objective on Neurocrine Biosciences from $164.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, April 7th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Neurocrine Biosciences currently has a consensus rating of “Moderate Buy” and an average target price of $188.10.

Institutional Investors Weigh In On Neurocrine Biosciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NBIX. USA Financial Formulas bought a new stake in Neurocrine Biosciences in the 4th quarter worth $25,000. DJE Kapital AG bought a new position in shares of Neurocrine Biosciences during the fourth quarter valued at about $28,000. Geneos Wealth Management Inc. boosted its holdings in shares of Neurocrine Biosciences by 143.6% during the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after purchasing an additional 135 shares during the period. Meeder Asset Management Inc. boosted its holdings in shares of Neurocrine Biosciences by 651.6% during the fourth quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock worth $33,000 after purchasing an additional 202 shares during the period. Finally, Basecamp Wealth Advisors LLC grew its stake in shares of Neurocrine Biosciences by 582.9% in the first quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company’s stock worth $31,000 after purchasing an additional 204 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors.

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.