Neurocrine Biosciences (NASDAQ:NBIX) Director Stephen Sherwin Sells 25,000 Shares of Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Director Stephen Sherwin sold 25,000 shares of the business’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $165.32, for a total value of $4,133,000.00. Following the completion of the transaction, the director owned 15,860 shares of the company’s stock, valued at $2,621,975.20. This represents a 61.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Neurocrine Biosciences Price Performance

NBIX stock opened at $165.24 on Wednesday. Neurocrine Biosciences, Inc. has a 1-year low of $122.14 and a 1-year high of $169.57. The business has a fifty day moving average price of $144.09 and a 200-day moving average price of $140.05. The stock has a market capitalization of $16.61 billion, a P/E ratio of 25.46, a P/E/G ratio of 1.22 and a beta of 0.40.

Hedge Funds Weigh In On Neurocrine Biosciences

A number of hedge funds have recently made changes to their positions in NBIX. USA Financial Formulas bought a new position in Neurocrine Biosciences during the fourth quarter valued at approximately $25,000. DJE Kapital AG bought a new position in Neurocrine Biosciences during the fourth quarter valued at approximately $28,000. Geneos Wealth Management Inc. boosted its stake in Neurocrine Biosciences by 143.6% during the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after buying an additional 135 shares during the last quarter. Meeder Asset Management Inc. boosted its stake in Neurocrine Biosciences by 651.6% during the fourth quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock valued at $33,000 after buying an additional 202 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC bought a new position in Neurocrine Biosciences during the first quarter valued at approximately $33,000. Institutional investors own 92.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NBIX. Wedbush boosted their price target on Neurocrine Biosciences from $166.00 to $176.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th. Canaccord Genuity Group boosted their price target on Neurocrine Biosciences from $164.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, April 7th. Truist Financial upped their price objective on Neurocrine Biosciences from $140.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. JPMorgan Chase & Co. increased their target price on Neurocrine Biosciences from $177.00 to $185.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $185.00 target price on shares of Neurocrine Biosciences in a report on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Neurocrine Biosciences has an average rating of “Moderate Buy” and a consensus target price of $187.52.

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.