Neurocrine Biosciences (NASDAQ:NBIX) Insider Ingrid Delaet Sells 2,261 Shares

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) insider Ingrid Delaet sold 2,261 shares of the company’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $156.71, for a total transaction of $354,321.31. Following the sale, the insider owned 16,225 shares of the company’s stock, valued at $2,542,619.75. This trade represents a 12.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Neurocrine Biosciences Price Performance

NBIX stock opened at $154.84 on Wednesday. Neurocrine Biosciences, Inc. has a 52-week low of $122.14 and a 52-week high of $162.39. The company has a 50-day moving average of $139.98 and a two-hundred day moving average of $139.18. The stock has a market capitalization of $15.57 billion, a price-to-earnings ratio of 23.86, a price-to-earnings-growth ratio of 1.21 and a beta of 0.40.

Institutional Investors Weigh In On Neurocrine Biosciences

Several hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its stake in shares of Neurocrine Biosciences by 11.0% in the third quarter. JPMorgan Chase & Co. now owns 4,730,152 shares of the company’s stock valued at $664,019,000 after buying an additional 468,405 shares during the period. AQR Capital Management LLC lifted its stake in shares of Neurocrine Biosciences by 18.0% in the fourth quarter. AQR Capital Management LLC now owns 3,271,706 shares of the company’s stock valued at $462,652,000 after buying an additional 498,058 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Neurocrine Biosciences by 8.0% in the first quarter. Renaissance Technologies LLC now owns 2,418,897 shares of the company’s stock valued at $318,665,000 after buying an additional 180,100 shares during the period. Geode Capital Management LLC lifted its stake in shares of Neurocrine Biosciences by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 2,059,282 shares of the company’s stock valued at $291,342,000 after buying an additional 34,457 shares during the period. Finally, Los Angeles Capital Management LLC lifted its stake in shares of Neurocrine Biosciences by 7.4% in the fourth quarter. Los Angeles Capital Management LLC now owns 1,291,278 shares of the company’s stock valued at $178,248,000 after buying an additional 88,522 shares during the period. Institutional investors own 92.59% of the company’s stock.

Analyst Upgrades and Downgrades

NBIX has been the subject of a number of recent analyst reports. Citigroup upped their price target on shares of Neurocrine Biosciences from $242.00 to $246.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Piper Sandler upped their price target on shares of Neurocrine Biosciences from $190.00 to $207.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Wolfe Research initiated coverage on shares of Neurocrine Biosciences in a report on Tuesday, February 24th. They set an “outperform” rating and a $160.00 price target for the company. Weiss Ratings restated a “hold (c+)” rating on shares of Neurocrine Biosciences in a report on Tuesday, April 21st. Finally, Zacks Research upgraded shares of Neurocrine Biosciences from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price 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.