David Boyer Sells 826 Shares of Neurocrine Biosciences (NASDAQ:NBIX) Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) insider David Boyer sold 826 shares of the company’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $157.45, for a total transaction of $130,053.70. Following the transaction, the insider owned 8,722 shares of the company’s stock, valued at approximately $1,373,278.90. This trade represents a 8.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 Trading Down 0.3%

NASDAQ NBIX opened at $149.50 on Thursday. The stock has a fifty day simple moving average of $163.00 and a 200-day simple moving average of $151.87. The stock has a market cap of $15.20 billion, a PE ratio of 21.92, a P/E/G ratio of 0.70 and a beta of 0.38. Neurocrine Biosciences, Inc. has a twelve month low of $122.14 and a twelve month high of $186.12.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its earnings results on Friday, July 31st. The company reported $2.85 EPS for the quarter, beating analysts’ consensus estimates of $1.65 by $1.20. Neurocrine Biosciences had a net margin of 20.91% and a return on equity of 22.43%. The company had revenue of $959.00 million for the quarter, compared to analysts’ expectations of $891.16 million. During the same quarter in the prior year, the company posted $1.65 earnings per share. Neurocrine Biosciences’s revenue for the quarter was up 39.5% compared to the same quarter last year. Research analysts predict that Neurocrine Biosciences, Inc. will post 7.25 EPS for the current year.

Institutional Investors Weigh In On Neurocrine Biosciences

Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in shares of Neurocrine Biosciences in the second quarter worth $2,310,886,000. Renaissance Technologies LLC raised its stake in shares of Neurocrine Biosciences by 8.0% in the first quarter. Renaissance Technologies LLC now owns 2,418,897 shares of the company’s stock valued at $318,665,000 after acquiring an additional 180,100 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Neurocrine Biosciences by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 2,059,282 shares of the company’s stock valued at $291,342,000 after purchasing an additional 34,457 shares during the period. Los Angeles Capital Management LLC boosted its holdings in Neurocrine Biosciences by 7.4% in the fourth quarter. Los Angeles Capital Management LLC now owns 1,291,278 shares of the company’s stock valued at $178,248,000 after purchasing an additional 88,522 shares during the period. Finally, Norges Bank acquired a new position in Neurocrine Biosciences during the 4th quarter worth $162,664,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NBIX has been the subject of several research reports. Guggenheim lifted their target price on shares of Neurocrine Biosciences from $200.00 to $222.00 and gave the company a “buy” rating in a report on Friday, July 31st. Needham & Company LLC upped their price target on Neurocrine Biosciences from $200.00 to $204.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Wedbush raised their price target on Neurocrine Biosciences from $185.00 to $194.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. TD Cowen lifted their price objective on Neurocrine Biosciences from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Finally, Zacks Research downgraded Neurocrine Biosciences from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $201.09.

Neurocrine Biosciences Company Profile

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.