Insider Selling: Neurocrine Biosciences (NASDAQ:NBIX) CEO Sells 300 Shares of Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) CEO Kyle Gano sold 300 shares of the company’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $141.97, for a total value of $42,591.00. Following the transaction, the chief executive officer directly owned 140,407 shares in the company, valued at approximately $19,933,581.79. The trade was a 0.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ:NBIX traded up $1.23 during midday trading on Tuesday, reaching $143.19. 744,569 shares of the company’s stock traded hands, compared to its average volume of 1,164,661. The company has a market cap of $14.28 billion, a price-to-earnings ratio of 34.26, a P/E/G ratio of 0.94 and a beta of 0.21. The stock has a 50 day moving average of $141.14 and a 200 day moving average of $130.54. Neurocrine Biosciences, Inc. has a one year low of $84.23 and a one year high of $154.61.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its earnings results on Tuesday, October 28th. The company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.46. The business had revenue of $794.90 million for the quarter, compared to analysts’ expectations of $746.61 million. Neurocrine Biosciences had a net margin of 15.95% and a return on equity of 15.82%. The business’s revenue for the quarter was up 27.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.81 EPS. Sell-side analysts predict that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Wall Street Analyst Weigh In

NBIX has been the topic of a number of research analyst reports. Zacks Research upgraded shares of Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 15th. Canaccord Genuity Group increased their price target on Neurocrine Biosciences from $160.00 to $164.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. UBS Group increased their target price on Neurocrine Biosciences from $188.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, October 9th. Truist Financial reissued a “buy” rating and issued a $172.00 target price (up previously from $165.00) on shares of Neurocrine Biosciences in a report on Thursday, October 30th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Neurocrine Biosciences in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $170.26.

Institutional Investors Weigh In On Neurocrine Biosciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd bought a new stake in Neurocrine Biosciences during the first quarter valued at about $1,460,000. Financiere des Professionnels Fonds d investissement inc. bought a new stake in Neurocrine Biosciences during the 2nd quarter valued at approximately $696,000. Wealth Enhancement Advisory Services LLC raised its stake in Neurocrine Biosciences by 229.1% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 19,107 shares of the company’s stock valued at $2,467,000 after purchasing an additional 13,301 shares during the period. Sequoia Financial Advisors LLC bought a new stake in Neurocrine Biosciences during the 2nd quarter valued at approximately $342,000. Finally, Integrated Wealth Concepts LLC raised its stake in Neurocrine Biosciences by 167.2% during the 1st quarter. Integrated Wealth Concepts LLC now owns 7,233 shares of the company’s stock valued at $800,000 after purchasing an additional 4,526 shares during the period. Institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Company Profile

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.