Neurocrine Biosciences (NASDAQ:NBIX) Director Sells $2,364,750.00 in Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Director Richard Pops sold 15,000 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $157.65, for a total value of $2,364,750.00. Following the completion of the sale, the director directly owned 34,480 shares in the company, valued at $5,435,772. This represents a 30.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Neurocrine Biosciences Price Performance

NBIX stock opened at $154.67 on Thursday. The firm has a market capitalization of $15.55 billion, a P/E ratio of 23.83, a P/E/G ratio of 1.16 and a beta of 0.34. The business’s 50-day moving average is $135.62 and its two-hundred day moving average is $138.69. Neurocrine Biosciences, Inc. has a 1 year low of $117.59 and a 1 year high of $162.39.

Wall Street Analyst Weigh In

A number of research firms have issued reports on NBIX. BMO Capital Markets reduced their price target on Neurocrine Biosciences from $147.00 to $140.00 and set a “market perform” rating on the stock in a research report on Thursday, February 12th. Truist Financial raised their target price on Neurocrine Biosciences from $140.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Wolfe Research initiated coverage on Neurocrine Biosciences in a research report on Tuesday, February 24th. They set an “outperform” rating and a $160.00 target price on the stock. Wells Fargo & Company dropped their price target on Neurocrine Biosciences from $180.00 to $175.00 and set an “overweight” rating on the stock in a research note on Friday, February 13th. Finally, Guggenheim restated a “buy” rating and issued a $175.00 price target on shares of Neurocrine Biosciences in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $184.15.

Hedge Funds Weigh In On Neurocrine Biosciences

Several hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. raised its holdings in Neurocrine Biosciences by 11.0% during the third quarter. JPMorgan Chase & Co. now owns 4,730,152 shares of the company’s stock worth $664,019,000 after purchasing an additional 468,405 shares during the last quarter. AQR Capital Management LLC raised its holdings in Neurocrine Biosciences by 18.0% during the fourth quarter. AQR Capital Management LLC now owns 3,271,706 shares of the company’s stock worth $462,652,000 after purchasing an additional 498,058 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Neurocrine Biosciences by 8.0% during the first quarter. Renaissance Technologies LLC now owns 2,418,897 shares of the company’s stock worth $318,665,000 after purchasing an additional 180,100 shares during the last quarter. Geode Capital Management LLC raised its holdings in Neurocrine Biosciences by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 2,059,282 shares of the company’s stock worth $291,342,000 after purchasing an additional 34,457 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its holdings in Neurocrine Biosciences by 7.4% during the fourth quarter. Los Angeles Capital Management LLC now owns 1,291,278 shares of the company’s stock worth $178,248,000 after purchasing an additional 88,522 shares during the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

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.