Kevin Charles Gorman Sells 245,088 Shares of Neurocrine Biosciences (NASDAQ:NBIX) Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Director Kevin Charles Gorman sold 245,088 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $154.33, for a total value of $37,824,431.04. Following the completion of the transaction, the director directly owned 511,293 shares of the company’s stock, valued at $78,907,848.69. This represents a 32.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Neurocrine Biosciences Price Performance

Shares of Neurocrine Biosciences stock traded up $0.83 during midday trading on Thursday, reaching $155.50. The company had a trading volume of 1,037,006 shares, compared to its average volume of 1,182,849. The firm has a market cap of $15.64 billion, a PE ratio of 23.96, a P/E/G ratio of 1.16 and a beta of 0.34. Neurocrine Biosciences, Inc. has a fifty-two week low of $117.59 and a fifty-two week high of $162.39. The stock has a fifty day moving average price of $135.62 and a 200 day moving average price of $138.69.

Analyst Ratings Changes

Several equities research analysts have 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 report on Wednesday, May 6th. Royal Bank Of Canada lifted their price objective on shares of Neurocrine Biosciences from $176.00 to $180.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Wedbush lifted 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. JPMorgan Chase & Co. lifted their price objective on shares of Neurocrine Biosciences from $177.00 to $185.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Finally, UBS Group dropped their price objective on Neurocrine Biosciences from $188.00 to $178.00 and set a “buy” rating on the stock in a report on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Neurocrine Biosciences presently has an average rating of “Moderate Buy” and an average price target of $184.15.

Hedge Funds Weigh In On Neurocrine Biosciences

Large investors have recently added to or reduced their stakes in the business. USA Financial Formulas purchased a new position in Neurocrine Biosciences in the 4th quarter worth $25,000. Golden State Wealth Management LLC increased its stake in shares of Neurocrine Biosciences by 120.5% in the third quarter. Golden State Wealth Management LLC now owns 183 shares of the company’s stock worth $26,000 after buying an additional 100 shares during the period. DJE Kapital AG purchased a new position in shares of Neurocrine Biosciences in the fourth quarter worth $28,000. Geneos Wealth Management Inc. increased its stake in shares of Neurocrine Biosciences by 143.6% in the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after buying an additional 135 shares during the period. Finally, 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. Hedge funds and other institutional investors 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.