Insider Selling: Neurocrine Biosciences (NASDAQ:NBIX) Insider Sells $609,016.32 in Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) insider David Boyer sold 3,888 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $156.64, for a total transaction of $609,016.32. Following the completion of the transaction, the insider directly owned 7,799 shares of the company’s stock, valued at $1,221,635.36. This represents a 33.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Neurocrine Biosciences Trading Up 1.2%

NASDAQ:NBIX opened at $158.30 on Friday. Neurocrine Biosciences, Inc. has a 1-year low of $121.42 and a 1-year high of $162.39. The firm has a fifty day simple moving average of $139.36 and a 200 day simple moving average of $139.16. The stock has a market capitalization of $15.92 billion, a PE ratio of 24.39, a P/E/G ratio of 1.19 and a beta of 0.34.

Institutional Investors Weigh In On Neurocrine Biosciences

Several hedge funds have recently added to or reduced their stakes in the business. AlTi Global Inc. lifted its holdings in Neurocrine Biosciences by 1.0% during the 3rd quarter. AlTi Global Inc. now owns 6,828 shares of the company’s stock valued at $959,000 after purchasing an additional 70 shares during the last quarter. Huntington National Bank lifted its holdings in Neurocrine Biosciences by 12.6% during the 4th quarter. Huntington National Bank now owns 678 shares of the company’s stock valued at $96,000 after purchasing an additional 76 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in Neurocrine Biosciences by 0.7% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 11,112 shares of the company’s stock valued at $1,560,000 after purchasing an additional 77 shares during the last quarter. Perigon Wealth Management LLC lifted its holdings in Neurocrine Biosciences by 3.1% during the 4th quarter. Perigon Wealth Management LLC now owns 2,590 shares of the company’s stock valued at $367,000 after purchasing an additional 78 shares during the last quarter. Finally, Motley Fool Asset Management LLC lifted its holdings in Neurocrine Biosciences by 4.8% during the 4th quarter. Motley Fool Asset Management LLC now owns 1,693 shares of the company’s stock valued at $240,000 after purchasing an additional 78 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on NBIX shares. Sanford C. Bernstein started coverage on shares of Neurocrine Biosciences in a research note on Friday, May 22nd. They issued an “outperform” rating and a $221.00 target price for the company. Wall Street Zen raised shares of Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 25th. Wolfe Research started coverage on shares of Neurocrine Biosciences in a research note on Tuesday, February 24th. They issued an “outperform” rating and a $160.00 target price for the company. Zacks Research raised shares of Neurocrine Biosciences from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 15th. Finally, Guggenheim reissued a “buy” rating and issued a $175.00 target price on shares of Neurocrine Biosciences in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $186.05.

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.