Neurocrine Biosciences (NASDAQ:NBIX) Insider Julie Cooke Sells 36,937 Shares of Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) insider Julie Cooke sold 36,937 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $156.22, for a total transaction of $5,770,298.14. Following the completion of the transaction, the insider directly owned 22,374 shares in the company, valued at $3,495,266.28. This represents a 62.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Neurocrine Biosciences Price Performance

NBIX stock opened at $167.35 on Friday. The company has a market capitalization of $16.83 billion, a PE ratio of 25.79, a P/E/G ratio of 1.24 and a beta of 0.40. Neurocrine Biosciences, Inc. has a 12 month low of $122.14 and a 12 month high of $169.57. The firm’s 50-day moving average is $142.08 and its 200 day moving average is $139.54.

Analyst Ratings Changes

Several research firms recently commented on NBIX. Sanford C. Bernstein began coverage on shares of Neurocrine Biosciences in a research note on Friday, May 22nd. They issued an “outperform” rating and a $221.00 price target on the stock. Piper Sandler raised their price target on shares of Neurocrine Biosciences from $190.00 to $207.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Wedbush raised their price target on shares of Neurocrine Biosciences from $166.00 to $176.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th. Citigroup raised their price target on shares of Neurocrine Biosciences from $242.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Finally, JPMorgan Chase & Co. raised their price target on shares of Neurocrine Biosciences from $177.00 to $185.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Neurocrine Biosciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $187.52.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NBIX. Royal Bank of Canada increased its position in Neurocrine Biosciences by 36.7% during the 1st quarter. Royal Bank of Canada now owns 82,810 shares of the company’s stock valued at $9,158,000 after purchasing an additional 22,224 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Neurocrine Biosciences by 60.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,783 shares of the company’s stock valued at $1,647,000 after purchasing an additional 5,577 shares during the period. NewEdge Advisors LLC increased its position in Neurocrine Biosciences by 56.3% during the 1st quarter. NewEdge Advisors LLC now owns 7,630 shares of the company’s stock valued at $844,000 after purchasing an additional 2,747 shares during the period. Empowered Funds LLC purchased a new position in Neurocrine Biosciences during the 1st quarter valued at about $1,333,000. Finally, Geneos Wealth Management Inc. increased its position in Neurocrine Biosciences by 143.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after purchasing an additional 135 shares during the period. Hedge funds and other institutional investors own 92.59% of the company’s stock.

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.