Insider Selling: Neurocrine Biosciences (NASDAQ:NBIX) Insider Sells $1,796,000.00 in Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) insider Darin Lippoldt sold 10,000 shares of the stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $179.60, for a total transaction of $1,796,000.00. Following the sale, the insider directly owned 54,729 shares in the company, valued at $9,829,328.40. This trade represents a 15.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Darin Lippoldt also recently made the following trade(s):

• On Monday, June 29th, Darin Lippoldt sold 9,800 shares of Neurocrine Biosciences stock. The stock was sold at an average price of $170.16, for a total transaction of $1,667,568.00.
• On Friday, June 26th, Darin Lippoldt sold 200 shares of Neurocrine Biosciences stock. The stock was sold at an average price of $169.56, for a total transaction of $33,912.00.

Neurocrine Biosciences Stock Performance

NASDAQ NBIX opened at $172.05 on Thursday. The stock has a market capitalization of $17.30 billion, a P/E ratio of 26.51, a price-to-earnings-growth ratio of 0.68 and a beta of 0.39. Neurocrine Biosciences, Inc. has a 52 week low of $122.14 and a 52 week high of $181.18. The stock has a fifty day moving average of $162.93 and a 200-day moving average of $143.42.

Institutional Trading of Neurocrine Biosciences

A number of institutional investors have recently modified their holdings of the company. Generali Investments Management Co LLC boosted its position in shares of Neurocrine Biosciences by 19.8% during the second quarter. Generali Investments Management Co LLC now owns 10,644 shares of the company’s stock worth $1,794,000 after buying an additional 1,762 shares during the period. Handelsbanken Fonder AB raised its position in Neurocrine Biosciences by 9.6% in the 2nd quarter. Handelsbanken Fonder AB now owns 205,871 shares of the company’s stock valued at $34,696,000 after buying an additional 18,004 shares during the last quarter. Fulton Bank N.A. lifted its stake in Neurocrine Biosciences by 5.2% in the 2nd quarter. Fulton Bank N.A. now owns 4,895 shares of the company’s stock valued at $825,000 after acquiring an additional 243 shares in the last quarter. Valeo Financial Advisors LLC acquired a new position in Neurocrine Biosciences during the 2nd quarter worth approximately $283,000. Finally, Trust Point Inc. bought a new position in shares of Neurocrine Biosciences during the 2nd quarter worth approximately $245,000. 92.59% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NBIX has been the subject of several recent research reports. Truist Financial boosted their price objective on Neurocrine Biosciences from $155.00 to $200.00 and gave the stock a “buy” rating in a report on Monday. Morgan Stanley boosted their price target on shares of Neurocrine Biosciences from $185.00 to $191.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. Guggenheim restated a “buy” rating and issued a $175.00 price objective on shares of Neurocrine Biosciences in a report on Wednesday, May 6th. Canaccord Genuity Group raised their price objective on shares of Neurocrine Biosciences from $164.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, April 7th. Finally, Needham & Company LLC restated a “buy” rating and set a $185.00 price objective on shares of Neurocrine Biosciences in a report on Monday, April 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $191.67.

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.