Neurocrine Biosciences (NASDAQ:NBIX) Insider Sells $5,770,298.14 in Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) insider Julie Cooke sold 36,937 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $156.22, for a total value of $5,770,298.14. Following the sale, the insider owned 22,374 shares of the company’s stock, valued at approximately $3,495,266.28. This represents a 62.28% 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 Stock Down 2.1%

Neurocrine Biosciences stock opened at $163.88 on Friday. The business has a 50-day simple moving average of $142.73 and a two-hundred day simple moving average of $139.71. The company has a market cap of $16.48 billion, a P/E ratio of 25.25, a P/E/G ratio of 1.23 and a beta of 0.40. Neurocrine Biosciences, Inc. has a 52-week low of $122.14 and a 52-week high of $169.57.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Royal Bank Of Canada boosted their price objective on Neurocrine Biosciences from $180.00 to $183.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. Zacks Research upgraded Neurocrine Biosciences from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 15th. Piper Sandler boosted their price objective on Neurocrine Biosciences from $190.00 to $207.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Citigroup boosted their price objective on Neurocrine Biosciences from $242.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Finally, Wolfe Research started coverage on Neurocrine Biosciences in a report on Tuesday, February 24th. They issued an “outperform” rating and a $160.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Neurocrine Biosciences presently has an average rating of “Moderate Buy” and an average price target of $187.52.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Royal Bank of Canada raised its holdings in shares of Neurocrine Biosciences by 36.7% during the 1st quarter. Royal Bank of Canada now owns 82,810 shares of the company’s stock worth $9,158,000 after acquiring an additional 22,224 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Neurocrine Biosciences by 60.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,783 shares of the company’s stock worth $1,647,000 after acquiring an additional 5,577 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of Neurocrine Biosciences by 56.3% during the 1st quarter. NewEdge Advisors LLC now owns 7,630 shares of the company’s stock worth $844,000 after acquiring an additional 2,747 shares in the last quarter. Empowered Funds LLC purchased a new stake in shares of Neurocrine Biosciences during the 1st quarter worth approximately $1,333,000. Finally, Geneos Wealth Management Inc. raised its holdings in shares of Neurocrine Biosciences by 143.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after acquiring an additional 135 shares in the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

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.