Neurocrine Biosciences (NASDAQ:NBIX) Director Leslie Norwalk Sells 3,810 Shares of Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Director Leslie Norwalk sold 3,810 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $155.01, for a total value of $590,588.10. Following the sale, the director directly owned 2,429 shares in the company, valued at $376,519.29. This trade represents a 61.07% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Neurocrine Biosciences Trading Down 1.4%

NBIX stock opened at $159.05 on Friday. The firm has a 50 day moving average of $133.55 and a 200-day moving average of $138.32. The firm has a market capitalization of $15.99 billion, a P/E ratio of 24.51, a price-to-earnings-growth ratio of 1.21 and a beta of 0.34. Neurocrine Biosciences, Inc. has a 12 month low of $117.40 and a 12 month high of $162.39.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its earnings results on Wednesday, February 11th. The company reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.36 by ($0.48). Neurocrine Biosciences had a return on equity of 19.79% and a net margin of 21.55%.The firm had revenue of $805.50 million during the quarter, compared to analysts’ expectations of $804.21 million. During the same quarter in the prior year, the company earned $1.69 earnings per share. The business’s revenue for the quarter was up 28.3% compared to the same quarter last year. Sell-side analysts predict that Neurocrine Biosciences, Inc. will post 7.16 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on NBIX shares. Wells Fargo & Company dropped their price objective on Neurocrine Biosciences from $180.00 to $175.00 and set an “overweight” rating for the company in a research note on Friday, February 13th. Leerink Partners upped their target price on Neurocrine Biosciences from $160.00 to $170.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 22nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $185.00 price target on shares of Neurocrine Biosciences in a report on Monday, April 6th. Citigroup lifted their price target on Neurocrine Biosciences from $242.00 to $246.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Finally, Wolfe Research assumed coverage on shares of Neurocrine Biosciences in a research report on Tuesday, February 24th. They issued an “outperform” rating and a $160.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $184.15.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Nilsine Partners LLC purchased a new stake in Neurocrine Biosciences during the 4th quarter valued at about $1,197,000. Ruffer LLP purchased a new position in Neurocrine Biosciences in the 4th quarter worth approximately $2,479,000. Korea Investment CORP lifted its position in Neurocrine Biosciences by 94.3% in the third quarter. Korea Investment CORP now owns 71,689 shares of the company’s stock valued at $10,064,000 after purchasing an additional 34,800 shares during the last quarter. CIBC Private Wealth Group LLC lifted its position in Neurocrine Biosciences by 17,250.0% in the third quarter. CIBC Private Wealth Group LLC now owns 7,981 shares of the company’s stock valued at $1,120,000 after purchasing an additional 7,935 shares during the last quarter. Finally, Focus Partners Advisor Solutions LLC boosted its stake in shares of Neurocrine Biosciences by 152.5% during the third quarter. Focus Partners Advisor Solutions LLC now owns 13,263 shares of the company’s stock valued at $1,945,000 after purchasing an additional 8,011 shares during the period. 92.59% of the stock is currently owned by 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.