Insider Selling: Neurocrine Biosciences (NASDAQ:NBIX) Director Sells 15,000 Shares of Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Director George Morrow sold 15,000 shares of the business’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $143.37, for a total transaction of $2,150,550.00. Following the completion of the sale, the director owned 7,068 shares of the company’s stock, valued at approximately $1,013,339.16. This represents a 67.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Neurocrine Biosciences Stock Up 5.6%

NBIX stock traded up $8.05 during trading on Wednesday, hitting $151.58. 1,732,007 shares of the company’s stock traded hands, compared to its average volume of 1,165,859. The firm has a market capitalization of $15.11 billion, a P/E ratio of 36.26, a PEG ratio of 0.94 and a beta of 0.22. Neurocrine Biosciences, Inc. has a 1 year low of $84.23 and a 1 year high of $157.67. The business has a fifty day simple moving average of $142.44 and a two-hundred day simple moving average of $134.35.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results on Tuesday, October 28th. The company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.59. The business had revenue of $794.90 million for the quarter, compared to analysts’ expectations of $746.61 million. Neurocrine Biosciences had a return on equity of 15.82% and a net margin of 15.95%.The business’s revenue for the quarter was up 27.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.81 EPS. On average, equities research analysts predict that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NBIX. Canaccord Genuity Group raised their price target on shares of Neurocrine Biosciences from $160.00 to $164.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Citigroup upped their price objective on shares of Neurocrine Biosciences from $175.00 to $203.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Piper Sandler increased their target price on shares of Neurocrine Biosciences from $175.00 to $179.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. JPMorgan Chase & Co. upped their price target on shares of Neurocrine Biosciences from $171.00 to $179.00 and gave the stock an “overweight” rating in a research report on Monday, November 3rd. Finally, Guggenheim upped their price objective on shares of Neurocrine Biosciences from $165.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $170.53.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Golden State Wealth Management LLC increased its holdings in shares of Neurocrine Biosciences by 120.5% in the 3rd quarter. Golden State Wealth Management LLC now owns 183 shares of the company’s stock valued at $26,000 after acquiring an additional 100 shares during the last quarter. Eastern Bank purchased a new stake in Neurocrine Biosciences in the 3rd quarter valued at approximately $27,000. Geneos Wealth Management Inc. raised its position in Neurocrine Biosciences by 143.6% in the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after acquiring an additional 135 shares in the last quarter. Quent Capital LLC purchased a new stake in Neurocrine Biosciences during the third quarter worth about $32,000. Finally, WPG Advisers LLC purchased a new stake in shares of Neurocrine Biosciences during the 1st quarter worth approximately $32,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, neuroendocrine, and neuropsychiatric disorders in the United States and internationally. The company’s products include INGREZZA for tardive dyskinesia and chorea associated with Huntington’s disease; ALKINDI for adrenal insufficiency; Efmody capsules for classic congenital adrenal hyperplasia; Orilissa tablets for endometriosis; and Oriahnn capsules to treat uterine fibroids.