Ingrid Delaet Sells 2,261 Shares of Neurocrine Biosciences (NASDAQ:NBIX) Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) insider Ingrid Delaet sold 2,261 shares of the stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $156.71, for a total transaction of $354,321.31. Following the sale, the insider directly owned 16,225 shares of the company’s stock, valued at approximately $2,542,619.75. This trade represents a 12.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Neurocrine Biosciences Price Performance

Shares of NBIX opened at $165.11 on Thursday. Neurocrine Biosciences, Inc. has a 1 year low of $122.14 and a 1 year high of $165.81. The company has a 50 day simple moving average of $141.29 and a two-hundred day simple moving average of $139.38. The firm has a market cap of $16.60 billion, a P/E ratio of 25.44, a price-to-earnings-growth ratio of 1.16 and a beta of 0.40.

Analysts Set New Price Targets

A number of research firms recently weighed in on NBIX. Wells Fargo & Company cut their target price on shares of Neurocrine Biosciences from $180.00 to $175.00 and set an “overweight” rating for the company in a report on Friday, February 13th. Canaccord Genuity Group raised their target price on shares of Neurocrine Biosciences from $164.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, April 7th. Sanford C. Bernstein began coverage on shares of Neurocrine Biosciences in a report on Friday, May 22nd. They issued an “outperform” rating and a $221.00 target price for the company. Needham & Company LLC reissued a “buy” rating and issued a $185.00 target price on shares of Neurocrine Biosciences in a report on Monday, April 6th. Finally, Truist Financial raised their target price on shares of Neurocrine Biosciences from $140.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, May 7th. One research 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $187.52.

Institutional Trading of Neurocrine Biosciences

A number of institutional investors have recently bought and sold shares of the stock. Parallel Advisors LLC lifted its position in Neurocrine Biosciences by 12.3% in the first quarter. Parallel Advisors LLC now owns 1,776 shares of the company’s stock worth $234,000 after buying an additional 195 shares during the last quarter. NewEdge Advisors LLC lifted its position in Neurocrine Biosciences by 0.5% in the first quarter. NewEdge Advisors LLC now owns 13,066 shares of the company’s stock worth $1,721,000 after buying an additional 68 shares during the last quarter. Segall Bryant & Hamill LLC lifted its position in Neurocrine Biosciences by 0.8% in the first quarter. Segall Bryant & Hamill LLC now owns 56,934 shares of the company’s stock worth $7,500,000 after buying an additional 464 shares during the last quarter. Arete Wealth Advisors LLC bought a new stake in Neurocrine Biosciences in the first quarter worth $3,037,000. Finally, Bank of America Corp DE lifted its position in Neurocrine Biosciences by 10.6% in the first quarter. Bank of America Corp DE now owns 583,827 shares of the company’s stock worth $76,913,000 after buying an additional 55,723 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors.

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.