Insider Selling: Neurocrine Biosciences (NASDAQ:NBIX) Insider Sells $1,710,830.00 in Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) insider Jude Onyia sold 11,000 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $155.53, for a total value of $1,710,830.00. Following the sale, the insider directly owned 25,846 shares in the company, valued at approximately $4,019,828.38. This represents a 29.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Neurocrine Biosciences Price Performance

NASDAQ:NBIX opened at $158.30 on Monday. The business’s 50-day simple moving average is $139.36 and its two-hundred day simple moving average is $139.08. The stock has a market cap of $15.92 billion, a PE ratio of 24.39, a P/E/G ratio of 1.19 and a beta of 0.39. Neurocrine Biosciences, Inc. has a 52 week low of $121.42 and a 52 week high of $162.39.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. USA Financial Formulas purchased a new position in shares of Neurocrine Biosciences during the fourth quarter valued at approximately $25,000. Geneos Wealth Management Inc. boosted its position in shares of 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. Golden State Wealth Management LLC boosted its position in shares of Neurocrine Biosciences by 120.5% during the third quarter. Golden State Wealth Management LLC now owns 183 shares of the company’s stock valued at $26,000 after buying an additional 100 shares during the period. DJE Kapital AG purchased a new position in shares of Neurocrine Biosciences during the fourth quarter valued at approximately $28,000. Finally, Cassaday & Co Wealth Management LLC purchased a new position in shares of Neurocrine Biosciences during the first quarter valued at approximately $33,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Canaccord Genuity Group lifted their target price on Neurocrine Biosciences from $164.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, April 7th. JPMorgan Chase & Co. lifted their target price on Neurocrine Biosciences from $177.00 to $185.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Piper Sandler lifted their target price on Neurocrine Biosciences from $190.00 to $207.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. BMO Capital Markets decreased their price objective on Neurocrine Biosciences from $147.00 to $140.00 and set a “market perform” rating on the stock in a research report on Thursday, February 12th. Finally, Leerink Partners upped their price objective on Neurocrine Biosciences from $160.00 to $170.00 and gave the company an “outperform” rating in a research report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $186.05.

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.