Ingrid Delaet Sells 4,367 Shares of Neurocrine Biosciences (NASDAQ:NBIX) Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) insider Ingrid Delaet sold 4,367 shares of the company’s stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $181.02, for a total transaction of $790,514.34. Following the completion of the transaction, the insider owned 16,225 shares in the company, valued at approximately $2,937,049.50. This trade represents a 21.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available 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 Tuesday, July 7th, Ingrid Delaet sold 3,401 shares of Neurocrine Biosciences stock. The shares were sold at an average price of $178.57, for a total transaction of $607,316.57.
• 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 value of $1,507,145.76.
• On Friday, May 29th, Ingrid Delaet sold 2,261 shares of Neurocrine Biosciences stock. The stock was sold at an average price of $156.71, for a total value of $354,321.31.

Neurocrine Biosciences Trading Down 1.2%

Neurocrine Biosciences stock opened at $172.04 on Wednesday. The company has a market capitalization of $17.30 billion, a price-to-earnings ratio of 26.51, a PEG ratio of 0.69 and a beta of 0.39. Neurocrine Biosciences, Inc. has a 12 month low of $122.14 and a 12 month high of $181.18. The stock’s 50 day moving average is $162.43 and its 200-day moving average is $143.24.

Key Neurocrine Biosciences News

Here are the key news stories impacting Neurocrine Biosciences this week:

• Positive Sentiment: Truist Financial raised its price target on Neurocrine Biosciences (NBIX) to $200 from $155 and kept a buy rating, pointing to meaningful upside potential. Benzinga report on Truist price target increase
• Positive Sentiment: Zacks said NBIX could continue rising in the near term because of solid earnings estimate revisions, a sign that analysts are becoming more optimistic about the company’s outlook. Zacks article on rising earnings estimates
• Neutral Sentiment: BMO Capital Markets also lifted its price target on NBIX to $170 from $144, but kept a market perform rating, which is constructive but less bullish than Truist’s call. Benzinga report on BMO price target increase
• Negative Sentiment: Insiders Darin Lippoldt and Ingrid Delaet sold shares recently, which can weigh on sentiment even though the trades were made under pre-arranged 10b5-1 plans. Article on Darin Lippoldt sale Article on Ingrid Delaet sale

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its position in Neurocrine Biosciences by 18.0% during the fourth quarter. AQR Capital Management LLC now owns 3,271,706 shares of the company’s stock valued at $462,652,000 after purchasing an additional 498,058 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Neurocrine Biosciences by 8.0% in the 1st quarter. Renaissance Technologies LLC now owns 2,418,897 shares of the company’s stock valued at $318,665,000 after purchasing an additional 180,100 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Neurocrine Biosciences by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 2,059,282 shares of the company’s stock valued at $291,342,000 after purchasing an additional 34,457 shares in the last quarter. Los Angeles Capital Management LLC increased its stake in shares of Neurocrine Biosciences by 7.4% in the 4th quarter. Los Angeles Capital Management LLC now owns 1,291,278 shares of the company’s stock valued at $178,248,000 after purchasing an additional 88,522 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of Neurocrine Biosciences by 31.9% in the 4th quarter. Northern Trust Corp now owns 1,221,184 shares of the company’s stock valued at $173,201,000 after purchasing an additional 295,470 shares during the last quarter. 92.59% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Leerink Partners upped their price objective on Neurocrine Biosciences from $160.00 to $170.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. Canaccord Genuity Group boosted their target price on shares of Neurocrine Biosciences from $164.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, April 7th. Weiss Ratings cut shares of Neurocrine Biosciences from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday. The Goldman Sachs Group began coverage on shares of Neurocrine Biosciences in a research note on Tuesday, June 2nd. They issued a “buy” rating and a $213.00 price target on the stock. Finally, Zacks Research raised shares of Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 23rd. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $191.67.

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.