Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Director William H. Rastetter Sells 30,000 Shares

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Director William H. Rastetter sold 30,000 shares of Neurocrine Biosciences stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $110.20, for a total transaction of $3,306,000.00. Following the completion of the transaction, the director now owns 37,491 shares in the company, valued at approximately $4,131,508.20. This trade represents a 44.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Neurocrine Biosciences Stock Performance

Shares of NBIX opened at $121.54 on Thursday. The firm has a market cap of $12.02 billion, a PE ratio of 36.94, a PEG ratio of 0.77 and a beta of 0.26. Neurocrine Biosciences, Inc. has a twelve month low of $84.23 and a twelve month high of $157.98. The firm’s 50 day moving average price is $106.12 and its 200 day moving average price is $121.80.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Monday, May 5th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.62). The business had revenue of $572.60 million during the quarter, compared to analyst estimates of $587.06 million. Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.38%. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.20 EPS. On average, sell-side analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Neurocrine Biosciences announced that its board has initiated a stock repurchase program on Friday, February 21st that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to buy up to 4.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Golden State Wealth Management LLC acquired a new stake in Neurocrine Biosciences in the 4th quarter worth approximately $25,000. Huntington National Bank boosted its holdings in shares of Neurocrine Biosciences by 73.5% during the 4th quarter. Huntington National Bank now owns 229 shares of the company’s stock worth $31,000 after buying an additional 97 shares during the period. Brooklyn Investment Group grew its stake in Neurocrine Biosciences by 99.1% in the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock valued at $32,000 after buying an additional 115 shares during the last quarter. Smallwood Wealth Investment Management LLC bought a new position in Neurocrine Biosciences in the 1st quarter worth $34,000. Finally, GeoWealth Management LLC lifted its position in Neurocrine Biosciences by 65.4% during the 4th quarter. GeoWealth Management LLC now owns 258 shares of the company’s stock worth $35,000 after acquiring an additional 102 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NBIX. StockNews.com cut Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 20th. Bank of America cut their price objective on Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating on the stock in a report on Friday, February 7th. UBS Group lifted their target price on shares of Neurocrine Biosciences from $137.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday. Guggenheim upped their price target on shares of Neurocrine Biosciences from $155.00 to $165.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Wedbush reiterated an “outperform” rating on shares of Neurocrine Biosciences in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, Neurocrine Biosciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $162.00.

About Neurocrine Biosciences

Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, neuroendocrine, and neuropsychiatric disorders in the United States and internationally. The company’s products include INGREZZA for tardive dyskinesia and chorea associated with Huntington’s disease; ALKINDI for adrenal insufficiency; Efmody capsules for classic congenital adrenal hyperplasia; Orilissa tablets for endometriosis; and Oriahnn capsules to treat uterine fibroids.