Neurocrine Biosciences, Inc. (NASDAQ:NBIX – Get Free Report) Director Kevin Charles Gorman sold 245,088 shares of the company’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $154.33, for a total value of $37,824,431.04. Following the completion of the sale, the director owned 511,293 shares of the company’s stock, valued at $78,907,848.69. This represents a 32.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Neurocrine Biosciences Trading Up 0.8%
Shares of NBIX stock opened at $156.70 on Friday. The stock has a fifty day simple moving average of $136.68 and a two-hundred day simple moving average of $138.90. The stock has a market capitalization of $15.76 billion, a price-to-earnings ratio of 24.14, a P/E/G ratio of 1.18 and a beta of 0.34. Neurocrine Biosciences, Inc. has a twelve month low of $117.59 and a twelve month high of $162.39.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on NBIX shares. HC Wainwright lifted their price objective on Neurocrine Biosciences from $192.00 to $215.00 and gave the company a “buy” rating in a report on Tuesday, April 7th. Wall Street Zen upgraded Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 25th. Wells Fargo & Company decreased their price objective on Neurocrine Biosciences from $180.00 to $175.00 and set an “overweight” rating for the company in a report on Friday, February 13th. Truist Financial lifted their price objective on Neurocrine Biosciences from $140.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Finally, Zacks Research upgraded Neurocrine Biosciences from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $185.90.
Hedge Funds Weigh In On Neurocrine Biosciences
Large investors have recently added to or reduced their stakes in the company. Nilsine Partners LLC bought a new position in Neurocrine Biosciences in the fourth quarter worth about $1,197,000. Ruffer LLP bought a new position in Neurocrine Biosciences in the fourth quarter worth about $2,479,000. Korea Investment CORP raised its holdings in Neurocrine Biosciences by 94.3% in the third quarter. Korea Investment CORP now owns 71,689 shares of the company’s stock worth $10,064,000 after purchasing an additional 34,800 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in Neurocrine Biosciences by 2.4% in the third quarter. Envestnet Asset Management Inc. now owns 202,846 shares of the company’s stock worth $28,476,000 after purchasing an additional 4,807 shares in the last quarter. Finally, CIBC Private Wealth Group LLC raised its holdings in Neurocrine Biosciences by 17,250.0% in the third quarter. CIBC Private Wealth Group LLC now owns 7,981 shares of the company’s stock worth $1,120,000 after purchasing an additional 7,935 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors.
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.
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