Ingrid Delaet Sells 3,401 Shares of Neurocrine Biosciences (NASDAQ:NBIX) Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) insider Ingrid Delaet sold 3,401 shares of the company’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $178.57, for a total transaction of $607,316.57. Following the completion of the sale, the insider owned 16,225 shares of the company’s stock, valued at approximately $2,897,298.25. This trade represents a 17.33% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Ingrid Delaet also recently made the following trade(s):

• On Wednesday, July 8th, Ingrid Delaet sold 2,737 shares of Neurocrine Biosciences stock. The stock was sold at an average price of $178.54, for a total transaction of $488,663.98.
• On Thursday, July 9th, Ingrid Delaet sold 8,433 shares of Neurocrine Biosciences stock. The stock was sold at an average price of $178.72, for a total transaction of $1,507,145.76.
• On Friday, May 29th, Ingrid Delaet sold 2,261 shares of Neurocrine Biosciences stock. The shares were sold at an average price of $156.71, for a total transaction of $354,321.31.

Neurocrine Biosciences Stock Up 1.3%

Shares of Neurocrine Biosciences stock traded up $2.31 during midday trading on Thursday, hitting $180.55. The company’s stock had a trading volume of 1,178,602 shares, compared to its average volume of 1,182,578. Neurocrine Biosciences, Inc. has a 1-year low of $122.14 and a 1-year high of $181.00. The firm has a market capitalization of $18.15 billion, a P/E ratio of 27.82, a PEG ratio of 0.71 and a beta of 0.39. The stock has a 50-day simple moving average of $158.87 and a 200-day simple moving average of $142.41.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Royal Bank of Canada increased its position in Neurocrine Biosciences by 36.7% during the first quarter. Royal Bank of Canada now owns 82,810 shares of the company’s stock worth $9,158,000 after buying an additional 22,224 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Neurocrine Biosciences by 60.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,783 shares of the company’s stock worth $1,647,000 after purchasing an additional 5,577 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in Neurocrine Biosciences by 56.3% in the 1st quarter. NewEdge Advisors LLC now owns 7,630 shares of the company’s stock worth $844,000 after purchasing an additional 2,747 shares during the last quarter. Empowered Funds LLC bought a new stake in Neurocrine Biosciences during the first quarter worth approximately $1,333,000. Finally, Geneos Wealth Management Inc. boosted 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 purchasing an additional 135 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on NBIX shares. Wall Street Zen raised shares of Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 25th. Truist Financial lifted their target price on shares of Neurocrine Biosciences from $140.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Citigroup increased their price objective on Neurocrine Biosciences from $242.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Leerink Partners lifted their price objective on Neurocrine Biosciences from $160.00 to $170.00 and gave the company an “outperform” rating in a research report on Wednesday, April 22nd. Finally, Wedbush boosted their target price on Neurocrine Biosciences from $166.00 to $176.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Neurocrine Biosciences has an average rating of “Moderate Buy” and a consensus target price of $188.10.

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.