Neurocrine Biosciences (NASDAQ:NBIX) Director Stephen Sherwin Sells 25,000 Shares

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Director Stephen Sherwin sold 25,000 shares of Neurocrine Biosciences stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $165.32, for a total transaction of $4,133,000.00. Following the completion of the transaction, the director directly owned 15,860 shares of the company’s stock, valued at $2,621,975.20. This trade represents a 61.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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 Stock Up 1.3%

Neurocrine Biosciences stock traded up $2.12 during trading hours on Tuesday, hitting $165.24. The stock had a trading volume of 1,098,804 shares, compared to its average volume of 1,180,013. The stock has a market capitalization of $16.61 billion, a P/E ratio of 25.46, a price-to-earnings-growth ratio of 1.23 and a beta of 0.39. Neurocrine Biosciences, Inc. has a 12-month low of $122.14 and a 12-month high of $169.57. The stock’s 50-day moving average price is $143.35 and its 200-day moving average price is $139.85.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on NBIX shares. Royal Bank Of Canada lifted their price target on shares of Neurocrine Biosciences from $180.00 to $183.00 and gave the stock an “outperform” rating in a research note on Friday, May 29th. Canaccord Genuity Group lifted their price target on shares of Neurocrine Biosciences from $164.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, April 7th. Wedbush lifted 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 lifted 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, Weiss Ratings upgraded shares of Neurocrine Biosciences from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $187.52.

Institutional Trading of Neurocrine Biosciences

Large investors have recently added to or reduced their stakes in the business. USA Financial Formulas bought a new stake in Neurocrine Biosciences during the fourth quarter valued at approximately $25,000. Geneos Wealth Management Inc. grew its position in Neurocrine Biosciences by 143.6% during the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after buying an additional 135 shares during the period. DJE Kapital AG bought a new stake in Neurocrine Biosciences during the fourth quarter valued at approximately $28,000. Cassaday & Co Wealth Management LLC bought a new stake in Neurocrine Biosciences during the first quarter valued at approximately $33,000. Finally, Meeder Asset Management Inc. grew its position in Neurocrine Biosciences by 651.6% during the fourth quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock valued at $33,000 after buying an additional 202 shares during the period. 92.59% of the stock is currently owned by institutional investors.

Neurocrine Biosciences Company Profile

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.