Insider Selling: Neurocrine Biosciences (NASDAQ:NBIX) CEO Sells 36,400 Shares of Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) CEO Kyle Gano sold 36,400 shares of the company’s stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $132.70, for a total transaction of $4,830,280.00. Following the sale, the chief executive officer owned 140,407 shares in the company, valued at $18,632,008.90. The trade was a 20.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Kyle Gano also recently made the following trade(s):

• On Tuesday, November 4th, Kyle Gano sold 300 shares of Neurocrine Biosciences stock. The shares were sold at an average price of $141.97, for a total value of $42,591.00.

Neurocrine Biosciences Stock Performance

NASDAQ NBIX traded up $2.15 during trading on Tuesday, reaching $134.54. 1,056,021 shares of the company’s stock were exchanged, compared to its average volume of 910,032. The stock has a market cap of $13.41 billion, a P/E ratio of 32.19, a price-to-earnings-growth ratio of 0.65 and a beta of 0.28. The company has a 50 day moving average price of $144.15 and a two-hundred day moving average price of $140.11. Neurocrine Biosciences, Inc. has a 1 year low of $84.23 and a 1 year high of $160.18.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings data on Tuesday, October 28th. The company reported $2.17 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.59. Neurocrine Biosciences had a net margin of 15.95% and a return on equity of 15.82%. The business had revenue of $794.90 million during the quarter, compared to the consensus estimate of $746.61 million. During the same quarter in the previous year, the firm earned $1.81 EPS. The company’s revenue was up 27.8% compared to the same quarter last year. Research analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Institutional Trading of Neurocrine Biosciences

Several large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its position in Neurocrine Biosciences by 59.6% during the second quarter. JPMorgan Chase & Co. now owns 4,261,747 shares of the company’s stock worth $535,659,000 after purchasing an additional 1,590,749 shares during the last quarter. AQR Capital Management LLC increased its stake in Neurocrine Biosciences by 83.7% during the third quarter. AQR Capital Management LLC now owns 2,773,648 shares of the company’s stock worth $388,435,000 after acquiring an additional 1,263,633 shares during the last quarter. Norges Bank purchased a new position in shares of Neurocrine Biosciences in the 2nd quarter worth about $122,278,000. Los Angeles Capital Management LLC lifted its stake in shares of Neurocrine Biosciences by 19,454.9% in the 2nd quarter. Los Angeles Capital Management LLC now owns 744,650 shares of the company’s stock valued at $93,595,000 after purchasing an additional 740,842 shares in the last quarter. Finally, Two Sigma Investments LP purchased a new stake in shares of Neurocrine Biosciences during the 3rd quarter worth about $48,791,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Morgan Stanley reaffirmed an “equal weight” rating and set a $175.00 price target (up from $173.00) on shares of Neurocrine Biosciences in a report on Thursday, January 8th. Zacks Research cut shares of Neurocrine Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 29th. Truist Financial dropped their price target on shares of Neurocrine Biosciences from $172.00 to $169.00 and set a “buy” rating on the stock in a research note on Thursday, January 8th. Needham & Company LLC increased their price target on shares of Neurocrine Biosciences from $170.00 to $184.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Neurocrine Biosciences from $179.00 to $177.00 and set an “overweight” rating for the company in a research report on Monday, January 12th. Seventeen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $175.10.

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.