Insider Selling: Neurocrine Biosciences (NASDAQ:NBIX) Insider Sells $33,912.00 in Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) insider Darin Lippoldt sold 200 shares of the firm’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $169.56, for a total transaction of $33,912.00. Following the transaction, the insider owned 54,729 shares of the company’s stock, valued at approximately $9,279,849.24. This represents a 0.36% decrease in their position. The sale was disclosed in a document filed 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.

Darin Lippoldt also recently made the following trade(s):

• On Monday, June 29th, Darin Lippoldt sold 9,800 shares of Neurocrine Biosciences stock. The stock was sold at an average price of $170.16, for a total value of $1,667,568.00.

Neurocrine Biosciences Price Performance

Shares of Neurocrine Biosciences stock traded down $1.46 during midday trading on Tuesday, hitting $168.54. 1,074,857 shares of the company were exchanged, compared to its average volume of 1,187,589. The firm has a 50 day simple moving average of $152.82 and a 200-day simple moving average of $141.25. Neurocrine Biosciences, Inc. has a 52 week low of $122.14 and a 52 week high of $171.50. The firm has a market cap of $16.95 billion, a P/E ratio of 25.97, a PEG ratio of 0.67 and a beta of 0.39.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NBIX. Canaccord Genuity Group lifted their price objective on Neurocrine Biosciences from $164.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, April 7th. Piper Sandler increased their price objective on shares of Neurocrine Biosciences from $190.00 to $207.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Truist Financial boosted their target price on shares of Neurocrine Biosciences from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Royal Bank Of Canada boosted their price objective on shares of Neurocrine Biosciences from $180.00 to $183.00 and gave the stock an “outperform” rating in a research report on Friday, May 29th. Finally, Sanford C. Bernstein began coverage on Neurocrine Biosciences in a research report on Friday, May 22nd. They issued an “outperform” rating and a $221.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Neurocrine Biosciences currently has an average rating of “Moderate Buy” and an average target price of $187.52.

Institutional Investors Weigh In On Neurocrine Biosciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC grew its position in shares of Neurocrine Biosciences by 18.0% during the 4th quarter. AQR Capital Management LLC now owns 3,271,706 shares of the company’s stock worth $462,652,000 after buying an additional 498,058 shares during the period. Renaissance Technologies LLC grew its holdings in Neurocrine Biosciences by 8.0% during the first quarter. Renaissance Technologies LLC now owns 2,418,897 shares of the company’s stock valued at $318,665,000 after purchasing an additional 180,100 shares during the period. Geode Capital Management LLC grew its holdings in Neurocrine Biosciences by 1.7% during 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 position in shares of Neurocrine Biosciences by 7.4% during the fourth quarter. Los Angeles Capital Management LLC now owns 1,291,278 shares of the company’s stock worth $178,248,000 after purchasing an additional 88,522 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Neurocrine Biosciences by 31.9% in the 4th quarter. Northern Trust Corp now owns 1,221,184 shares of the company’s stock valued at $173,201,000 after buying an additional 295,470 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Company Profile

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.