Neurocrine Biosciences (NASDAQ:NBIX) Director Sells $210,075.00 in Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Director Leslie Norwalk sold 1,250 shares of the company’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $168.06, for a total value of $210,075.00. Following the sale, the director owned 2,838 shares of the company’s stock, valued at approximately $476,954.28. This represents a 30.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Neurocrine Biosciences Stock Down 0.5%

Shares of NBIX stock traded down $0.76 on Monday, reaching $163.12. The company had a trading volume of 804,512 shares, compared to its average volume of 1,180,765. The stock has a market capitalization of $16.40 billion, a PE ratio of 25.13, a price-to-earnings-growth ratio of 1.23 and a beta of 0.39. The business’s 50-day moving average is $142.73 and its 200 day moving average is $139.68. Neurocrine Biosciences, Inc. has a one year low of $122.14 and a one year high of $169.57.

Institutional Investors Weigh In On Neurocrine Biosciences

Several institutional investors and hedge funds have recently made changes to their positions in NBIX. AQR Capital Management LLC grew its stake in Neurocrine Biosciences by 83.7% during the third quarter. AQR Capital Management LLC now owns 2,773,648 shares of the company’s stock worth $388,435,000 after purchasing an additional 1,263,633 shares during the period. Norges Bank acquired a new stake in Neurocrine Biosciences during the fourth quarter worth approximately $162,664,000. UBS Group AG grew its stake in Neurocrine Biosciences by 169.8% during the fourth quarter. UBS Group AG now owns 983,528 shares of the company’s stock worth $139,494,000 after purchasing an additional 618,956 shares during the period. First Trust Advisors LP grew its stake in Neurocrine Biosciences by 97.0% during the first quarter. First Trust Advisors LP now owns 959,217 shares of the company’s stock worth $126,367,000 after purchasing an additional 472,408 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in Neurocrine Biosciences by 11.0% during the third quarter. JPMorgan Chase & Co. now owns 4,730,152 shares of the company’s stock worth $664,019,000 after purchasing an additional 468,405 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on NBIX shares. Wall Street Zen raised Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 25th. Royal Bank Of Canada upped their target price on Neurocrine Biosciences from $180.00 to $183.00 and gave the stock an “outperform” rating in a report on Friday, May 29th. Citigroup upped their target price on Neurocrine Biosciences from $242.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Piper Sandler upped their target price on Neurocrine Biosciences from $190.00 to $207.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Finally, Wells Fargo & Company lowered their target price on Neurocrine Biosciences from $180.00 to $175.00 and set an “overweight” rating for the company in a report on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $187.52.

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.