Neurocrine Biosciences (NASDAQ:NBIX) Director George Morrow Sells 15,000 Shares

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Director George Morrow sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $143.37, for a total value of $2,150,550.00. Following the sale, the director directly owned 7,068 shares in the company, valued at $1,013,339.16. This trade represents a 67.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Neurocrine Biosciences Stock Performance

Neurocrine Biosciences stock opened at $151.58 on Thursday. Neurocrine Biosciences, Inc. has a fifty-two week low of $84.23 and a fifty-two week high of $157.67. The firm has a market capitalization of $15.11 billion, a price-to-earnings ratio of 36.26, a price-to-earnings-growth ratio of 0.94 and a beta of 0.22. The stock’s fifty day moving average is $142.62 and its two-hundred day moving average is $134.47.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results on Tuesday, October 28th. The company reported $2.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.59. Neurocrine Biosciences had a net margin of 15.95% and a return on equity of 15.82%. The company had revenue of $794.90 million during the quarter, compared to analysts’ expectations of $746.61 million. During the same quarter in the previous year, the business posted $1.81 earnings per share. The firm’s quarterly revenue was up 27.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Neurocrine Biosciences

Several large investors have recently made changes to their positions in NBIX. Assetmark Inc. grew its stake in Neurocrine Biosciences by 10.8% during the 2nd quarter. Assetmark Inc. now owns 21,001 shares of the company’s stock worth $2,640,000 after buying an additional 2,045 shares during the last quarter. Rhenman & Partners Asset Management AB boosted its holdings in shares of Neurocrine Biosciences by 66.1% during the second quarter. Rhenman & Partners Asset Management AB now owns 149,217 shares of the company’s stock valued at $18,755,000 after acquiring an additional 59,400 shares during the period. Financiere des Professionnels Fonds d investissement inc. bought a new stake in Neurocrine Biosciences in the 2nd quarter valued at about $696,000. Envestnet Asset Management Inc. boosted its stake in Neurocrine Biosciences by 61.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 198,039 shares of the company’s stock valued at $24,891,000 after purchasing an additional 75,733 shares during the period. Finally, Sequoia Financial Advisors LLC bought a new position in Neurocrine Biosciences in the 2nd quarter worth about $342,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Citigroup increased their price objective on Neurocrine Biosciences from $175.00 to $203.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Wedbush reaffirmed an “outperform” rating on shares of Neurocrine Biosciences in a research note on Monday, September 22nd. UBS Group boosted their price objective on shares of Neurocrine Biosciences from $188.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. Piper Sandler lifted their price objective on Neurocrine Biosciences from $175.00 to $179.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Finally, Needham & Company LLC boosted their target price on shares of Neurocrine Biosciences from $170.00 to $184.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $170.53.

About Neurocrine Biosciences

Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, neuroendocrine, and neuropsychiatric disorders in the United States and internationally. The company’s products include INGREZZA for tardive dyskinesia and chorea associated with Huntington’s disease; ALKINDI for adrenal insufficiency; Efmody capsules for classic congenital adrenal hyperplasia; Orilissa tablets for endometriosis; and Oriahnn capsules to treat uterine fibroids.