Insider Selling: Neurocrine Biosciences (NASDAQ:NBIX) Insider Sells 36,937 Shares of Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) insider Julie Cooke sold 36,937 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $156.22, for a total value of $5,770,298.14. Following the completion of the sale, the insider directly owned 22,374 shares in the company, valued at approximately $3,495,266.28. The trade was a 62.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Neurocrine Biosciences Trading Up 1.4%

NBIX traded up $2.24 during trading on Thursday, reaching $167.35. 1,301,765 shares of the company were exchanged, compared to its average volume of 1,185,547. Neurocrine Biosciences, Inc. has a 52 week low of $122.14 and a 52 week high of $169.57. The firm has a 50 day moving average of $141.29 and a 200 day moving average of $139.38. The stock has a market cap of $16.83 billion, a P/E ratio of 25.79, a PEG ratio of 1.16 and a beta of 0.40.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on NBIX shares. Royal Bank Of Canada lifted their price target on Neurocrine Biosciences from $180.00 to $183.00 and gave the stock an “outperform” rating in a report on Friday, May 29th. Zacks Research upgraded shares of Neurocrine Biosciences from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 15th. HC Wainwright boosted their price target on shares of Neurocrine Biosciences from $192.00 to $215.00 and gave the company a “buy” rating in a research report on Tuesday, April 7th. Sanford C. Bernstein began coverage on shares of Neurocrine Biosciences in a research note on Friday, May 22nd. They set an “outperform” rating and a $221.00 price target for the company. Finally, BMO Capital Markets lowered their target price on shares of Neurocrine Biosciences from $147.00 to $140.00 and set a “market perform” rating for the company in a research note on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Neurocrine Biosciences currently has a consensus rating of “Moderate Buy” and an average price target of $187.52.

Hedge Funds Weigh In On Neurocrine Biosciences

Several large investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC grew its position in shares of Neurocrine Biosciences by 0.5% in the 1st quarter. NewEdge Advisors LLC now owns 13,066 shares of the company’s stock valued at $1,721,000 after buying an additional 68 shares during the last quarter. AlTi Global Inc. raised its position in Neurocrine Biosciences by 1.0% during the third quarter. AlTi Global Inc. now owns 6,828 shares of the company’s stock valued at $959,000 after purchasing an additional 70 shares in the last quarter. Huntington National Bank boosted its holdings in Neurocrine Biosciences by 12.6% in the fourth quarter. Huntington National Bank now owns 678 shares of the company’s stock valued at $96,000 after acquiring an additional 76 shares in the last quarter. Perigon Wealth Management LLC boosted its position in shares of Neurocrine Biosciences by 3.1% in the 4th quarter. Perigon Wealth Management LLC now owns 2,590 shares of the company’s stock worth $367,000 after purchasing an additional 78 shares in the last quarter. Finally, Motley Fool Asset Management LLC raised its holdings in Neurocrine Biosciences by 4.8% in the 4th quarter. Motley Fool Asset Management LLC now owns 1,693 shares of the company’s stock worth $240,000 after acquiring an additional 78 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors.

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.