Neurocrine Biosciences (NASDAQ:NBIX) Insider Sells $130,053.70 in Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) insider David Boyer sold 826 shares of the firm’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $157.45, for a total transaction of $130,053.70. Following the transaction, the insider directly owned 8,722 shares in the company, valued at $1,373,278.90. This trade represents a 8.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Neurocrine Biosciences Stock Performance

Shares of NBIX opened at $151.83 on Friday. The company has a 50 day moving average price of $162.42 and a 200-day moving average price of $152.00. Neurocrine Biosciences, Inc. has a fifty-two week low of $122.14 and a fifty-two week high of $186.12. The stock has a market capitalization of $15.43 billion, a PE ratio of 22.26, a PEG ratio of 0.70 and a beta of 0.38.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings data on Friday, July 31st. The company reported $2.85 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $1.20. The company had revenue of $959.00 million during the quarter, compared to the consensus estimate of $891.16 million. Neurocrine Biosciences had a net margin of 20.91% and a return on equity of 22.43%. Neurocrine Biosciences’s revenue for the quarter was up 39.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.65 earnings per share. Equities research analysts forecast that Neurocrine Biosciences, Inc. will post 7.26 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on NBIX shares. Canaccord Genuity Group raised their price objective on Neurocrine Biosciences from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Zacks Research downgraded shares of Neurocrine Biosciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Needham & Company LLC increased their price target on shares of Neurocrine Biosciences from $200.00 to $204.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Piper Sandler raised their price target on shares of Neurocrine Biosciences from $207.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Finally, The Goldman Sachs Group assumed coverage on shares of Neurocrine Biosciences in a report on Tuesday, June 2nd. They issued a “buy” rating and a $213.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Neurocrine Biosciences presently has a consensus rating of “Moderate Buy” and an average target price of $201.09.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NBIX. DJE Kapital AG purchased a new position in shares of Neurocrine Biosciences during the fourth quarter worth $28,000. Basecamp Wealth Advisors LLC boosted its holdings in Neurocrine Biosciences by 582.9% in the first quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company’s stock valued at $31,000 after purchasing an additional 204 shares during the last quarter. Cassaday & Co Wealth Management LLC purchased a new stake in Neurocrine Biosciences in the first quarter valued at $33,000. Ascentis Independent Advisors acquired a new stake in Neurocrine Biosciences during the 1st quarter worth about $40,000. Finally, SJS Investment Consulting Inc. grew its position in Neurocrine Biosciences by 67.2% during the 1st quarter. SJS Investment Consulting Inc. now owns 341 shares of the company’s stock worth $45,000 after purchasing an additional 137 shares during the period. 92.59% of the stock is owned by institutional investors and hedge funds.

About Neurocrine Biosciences

Neurocrine Biosciences, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for neurological, neuroendocrine and psychiatric disorders. The company develops therapies for conditions with significant unmet medical needs, using expertise in neuroscience and endocrine biology.

Its primary commercial product is INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor approved in the United States for the treatment of tardive dyskinesia and chorea associated with Huntington’s disease.