Neurocrine Biosciences (NASDAQ:NBIX) Insider Sells $1,667,568.00 in Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) insider Darin Lippoldt sold 9,800 shares of the company’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $170.16, for a total transaction of $1,667,568.00. Following the completion of the sale, the insider directly owned 54,729 shares of the company’s stock, valued at $9,312,686.64. The trade was a 15.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, June 26th, Darin Lippoldt sold 200 shares of Neurocrine Biosciences stock. The shares were sold at an average price of $169.56, for a total transaction of $33,912.00.

Neurocrine Biosciences Stock Down 0.9%

NASDAQ NBIX traded down $1.46 on Tuesday, reaching $168.54. 1,074,857 shares of the stock traded hands, compared to its average volume of 1,187,589. Neurocrine Biosciences, Inc. has a 12 month low of $122.14 and a 12 month high of $171.50. The company has a market cap of $16.95 billion, a price-to-earnings ratio of 25.97, a P/E/G ratio of 0.67 and a beta of 0.39. The firm’s fifty day simple moving average is $152.82 and its 200 day simple moving average is $141.25.

Institutional Trading of Neurocrine Biosciences

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Basecamp Wealth Advisors LLC boosted its holdings in shares of Neurocrine Biosciences by 582.9% in the first quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company’s stock worth $31,000 after buying an additional 204 shares during the period. Pacer Advisors Inc. lifted its position in shares of Neurocrine Biosciences by 471.3% in the 1st quarter. Pacer Advisors Inc. now owns 169,230 shares of the company’s stock valued at $22,294,000 after acquiring an additional 139,609 shares in the last quarter. Carmignac Gestion lifted its position in shares of Neurocrine Biosciences by 192.5% in the 1st quarter. Carmignac Gestion now owns 186,000 shares of the company’s stock valued at $24,504,000 after acquiring an additional 122,400 shares in the last quarter. Defilade Capital Management L.P. acquired a new position in Neurocrine Biosciences in the 1st quarter worth approximately $27,656,000. Finally, Parallel Advisors LLC boosted its stake in Neurocrine Biosciences by 12.3% in the 1st quarter. Parallel Advisors LLC now owns 1,776 shares of the company’s stock worth $234,000 after purchasing an additional 195 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Guggenheim reiterated a “buy” rating and issued a $175.00 price target on shares of Neurocrine Biosciences in a research report on Wednesday, May 6th. Leerink Partners lifted their price objective on shares of Neurocrine Biosciences from $160.00 to $170.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 22nd. Zacks Research upgraded shares of Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 23rd. Morgan Stanley increased their target price on shares of Neurocrine Biosciences from $185.00 to $191.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Finally, The Goldman Sachs Group assumed coverage on shares of Neurocrine Biosciences in a report on Tuesday, June 2nd. They set a “buy” rating and a $213.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $187.52.

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.