Neurocrine Biosciences (NASDAQ:NBIX) Insider Sells $1,667,568.00 in Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) insider Darin Lippoldt sold 9,800 shares of the business’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $170.16, for a total value of $1,667,568.00. Following the completion of the sale, the insider owned 54,729 shares in the company, valued at approximately $9,312,686.64. This trade represents a 15.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Darin Lippoldt also recently made the following trade(s):

• On Friday, June 26th, Darin Lippoldt sold 200 shares of Neurocrine Biosciences stock. The stock was sold at an average price of $169.56, for a total value of $33,912.00.

Neurocrine Biosciences Stock Performance

NASDAQ:NBIX opened at $174.26 on Friday. The stock has a 50-day simple moving average of $155.13 and a 200 day simple moving average of $141.58. Neurocrine Biosciences, Inc. has a 52-week low of $122.14 and a 52-week high of $174.38. The company has a market cap of $17.52 billion, a PE ratio of 26.85, a PEG ratio of 0.67 and a beta of 0.39.

Institutional Investors Weigh In On Neurocrine Biosciences

A number of institutional investors and hedge funds have recently made changes to their positions in NBIX. USA Financial Formulas bought a new position in shares of Neurocrine Biosciences in the fourth quarter valued at $25,000. Geneos Wealth Management Inc. raised its position in Neurocrine Biosciences by 143.6% during the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after acquiring an additional 135 shares in the last quarter. DJE Kapital AG bought a new stake in Neurocrine Biosciences during the fourth quarter worth $28,000. Basecamp Wealth Advisors LLC raised its position in Neurocrine Biosciences by 582.9% during the first quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company’s stock worth $31,000 after acquiring an additional 204 shares in the last quarter. Finally, Cassaday & Co Wealth Management LLC acquired a new stake in Neurocrine Biosciences in the first quarter valued at $33,000. Institutional investors own 92.59% of the company’s stock.

Analyst Upgrades and Downgrades

NBIX has been the topic of a number of recent research reports. Guggenheim reiterated a “buy” rating and issued a $175.00 price objective on shares of Neurocrine Biosciences in a report on Wednesday, May 6th. Wedbush increased their target price on shares of Neurocrine Biosciences from $166.00 to $176.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. Citigroup raised their target price on shares of Neurocrine Biosciences from $242.00 to $246.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Wall Street Zen upgraded shares of Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 25th. Finally, Royal Bank Of Canada boosted their price target on shares of Neurocrine Biosciences from $180.00 to $183.00 and gave the stock an “outperform” rating in a research report on Friday, May 29th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $187.52.

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.