Insider Selling: Neurocrine Biosciences (NASDAQ:NBIX) Insider Sells $1,762,750.00 in Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) insider Jude Onyia sold 11,000 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $160.25, for a total value of $1,762,750.00. Following the transaction, the insider owned 25,846 shares in the company, valued at $4,141,821.50. This represents a 29.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jude Onyia also recently made the following trade(s):

• On Wednesday, May 27th, Jude Onyia sold 11,000 shares of Neurocrine Biosciences stock. The shares were sold at an average price of $155.53, for a total value of $1,710,830.00.

Neurocrine Biosciences Stock Up 1.4%

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

Analyst Upgrades and Downgrades

NBIX has been the topic of several research reports. Morgan Stanley boosted their price target on Neurocrine Biosciences from $185.00 to $191.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Weiss Ratings upgraded Neurocrine Biosciences from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday. Piper Sandler boosted their price target on Neurocrine Biosciences from $190.00 to $207.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Wells Fargo & Company lowered their price target on Neurocrine Biosciences from $180.00 to $175.00 and set an “overweight” rating on the stock in a research note on Friday, February 13th. Finally, JPMorgan Chase & Co. boosted their price target on Neurocrine Biosciences from $177.00 to $185.00 and gave the company 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 given a Hold rating to the company. Based on data from MarketBeat, Neurocrine Biosciences presently has an average rating of “Moderate Buy” and an average price target of $187.52.

Institutional Investors Weigh In On Neurocrine Biosciences

Institutional investors have recently added to or reduced their stakes in the stock. Nilsine Partners LLC acquired a new stake in Neurocrine Biosciences during the fourth quarter valued at approximately $1,197,000. Ruffer LLP acquired a new position in shares of Neurocrine Biosciences in the 4th quarter worth approximately $2,479,000. Korea Investment CORP boosted its holdings in shares of Neurocrine Biosciences by 94.3% in the 3rd quarter. Korea Investment CORP now owns 71,689 shares of the company’s stock worth $10,064,000 after acquiring an additional 34,800 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Neurocrine Biosciences by 2.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 202,846 shares of the company’s stock worth $28,476,000 after acquiring an additional 4,807 shares in the last quarter. Finally, CIBC Private Wealth Group LLC boosted its holdings in shares of Neurocrine Biosciences by 17,250.0% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 7,981 shares of the company’s stock worth $1,120,000 after acquiring an additional 7,935 shares in the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

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.