Insider Selling: Neurocrine Biosciences (NASDAQ:NBIX) Director Sells $227,512.50 in Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Director Leslie Norwalk sold 1,250 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $182.01, for a total transaction of $227,512.50. Following the sale, the director owned 1,588 shares in the company, valued at approximately $289,031.88. The trade was a 44.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Neurocrine Biosciences Price Performance

NASDAQ NBIX traded up $4.71 during mid-day trading on Thursday, reaching $185.50. The stock had a trading volume of 2,170,803 shares, compared to its average volume of 1,182,411. The stock has a market cap of $18.65 billion, a PE ratio of 28.58, a price-to-earnings-growth ratio of 0.77 and a beta of 0.39. The company has a fifty day moving average price of $167.01 and a 200 day moving average price of $145.90. Neurocrine Biosciences, Inc. has a 1 year low of $122.14 and a 1 year high of $186.12.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Thursday, July 30th. The company reported $2.85 earnings per share for the quarter, topping the consensus estimate of $1.66 by $1.19. Neurocrine Biosciences had a return on equity of 19.79% and a net margin of 21.55%.The firm had revenue of $959.00 million during the quarter, compared to analysts’ expectations of $891.16 million. During the same quarter in the previous year, the business earned $1.65 earnings per share. The company’s revenue was up 39.5% on a year-over-year basis. As a group, equities research analysts expect that Neurocrine Biosciences, Inc. will post 7.11 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently commented on NBIX shares. Guggenheim lifted their price target on shares of Neurocrine Biosciences from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Morgan Stanley increased their price objective on shares of Neurocrine Biosciences from $185.00 to $191.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. Sanford C. Bernstein began coverage on shares of Neurocrine Biosciences in a research report on Friday, May 22nd. They issued an “outperform” rating and a $221.00 target price for the company. Zacks Research raised Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 23rd. Finally, Wells Fargo & Company lifted their price objective on Neurocrine Biosciences from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $194.05.

Hedge Funds Weigh In On Neurocrine Biosciences

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Nilsine Partners LLC purchased a new position in shares of Neurocrine Biosciences during the 4th quarter valued at $1,197,000. Ruffer LLP purchased a new stake in shares of Neurocrine Biosciences during the fourth quarter worth about $2,479,000. Robinhood Asset Management LLC bought a new stake in Neurocrine Biosciences during the 4th quarter valued at approximately $5,715,000. Wesbanco Bank Inc. lifted its holdings in Neurocrine Biosciences by 88.9% in the 4th quarter. Wesbanco Bank Inc. now owns 17,000 shares of the company’s stock worth $2,411,000 after purchasing an additional 8,000 shares in the last quarter. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in Neurocrine Biosciences in the 4th quarter worth approximately $1,866,000. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

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.