Neurocrine Biosciences (NASDAQ:NBIX) Insider David Boyer Sells 3,888 Shares

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) insider David Boyer sold 3,888 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $156.64, for a total transaction of $609,016.32. Following the completion of the sale, the insider directly owned 7,799 shares of the company’s stock, valued at $1,221,635.36. This represents a 33.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Neurocrine Biosciences Stock Up 0.4%

Shares of NBIX traded up $0.56 during mid-day trading on Thursday, hitting $156.39. 1,068,307 shares of the company’s stock were exchanged, compared to its average volume of 1,170,854. Neurocrine Biosciences, Inc. has a twelve month low of $121.42 and a twelve month high of $162.39. The firm has a fifty day moving average of $138.29 and a two-hundred day moving average of $138.99. The stock has a market cap of $15.73 billion, a price-to-earnings ratio of 24.10, a P/E/G ratio of 1.17 and a beta of 0.34.

Wall Street Analyst Weigh In

Several research firms have weighed in on NBIX. Leerink Partners raised their target price on Neurocrine Biosciences from $160.00 to $170.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. JPMorgan Chase & Co. increased their price objective on Neurocrine Biosciences from $177.00 to $185.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Canaccord Genuity Group increased their price objective on Neurocrine Biosciences from $164.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, April 7th. Morgan Stanley increased their price objective on Neurocrine Biosciences from $185.00 to $191.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. Finally, Wolfe Research assumed coverage on Neurocrine Biosciences in a report on Tuesday, February 24th. They set an “outperform” rating and a $160.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $185.90.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. AlTi Global Inc. grew its holdings in Neurocrine Biosciences by 1.0% in the 3rd 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 last quarter. Huntington National Bank increased its position in Neurocrine Biosciences by 12.6% in the 4th quarter. Huntington National Bank now owns 678 shares of the company’s stock worth $96,000 after buying an additional 76 shares during the period. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Neurocrine Biosciences by 0.7% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 11,112 shares of the company’s stock worth $1,560,000 after buying an additional 77 shares during the last quarter. Perigon Wealth Management LLC boosted its position in shares of Neurocrine Biosciences by 3.1% in the fourth quarter. Perigon Wealth Management LLC now owns 2,590 shares of the company’s stock valued at $367,000 after acquiring an additional 78 shares during the period. Finally, Motley Fool Asset Management LLC boosted its position in shares of Neurocrine Biosciences by 4.8% in the fourth quarter. Motley Fool Asset Management LLC now owns 1,693 shares of the company’s stock valued at $240,000 after acquiring an additional 78 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

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.