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

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Director Stephen Sherwin sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $165.32, for a total transaction of $4,133,000.00. Following the sale, the director owned 15,860 shares of the company’s stock, valued at $2,621,975.20. This trade represents a 61.18% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 Stock Up 1.3%

NASDAQ:NBIX traded up $2.12 during trading hours on Tuesday, hitting $165.24. 1,098,804 shares of the stock traded hands, compared to its average volume of 1,180,013. Neurocrine Biosciences, Inc. has a 1 year low of $122.14 and a 1 year high of $169.57. The company has a market cap of $16.61 billion, a price-to-earnings ratio of 25.46, a price-to-earnings-growth ratio of 1.23 and a beta of 0.39. The stock has a 50 day moving average price of $143.35 and a 200 day moving average price of $139.85.

Hedge Funds Weigh In On Neurocrine Biosciences

Several hedge funds have recently modified their holdings of NBIX. AQR Capital Management LLC lifted its holdings in shares of Neurocrine Biosciences by 83.7% in the third quarter. AQR Capital Management LLC now owns 2,773,648 shares of the company’s stock worth $388,435,000 after buying an additional 1,263,633 shares in the last quarter. Norges Bank purchased a new position in shares of Neurocrine Biosciences in the fourth quarter worth $162,664,000. UBS Group AG lifted its holdings in shares of Neurocrine Biosciences by 169.8% in the fourth quarter. UBS Group AG now owns 983,528 shares of the company’s stock worth $139,494,000 after buying an additional 618,956 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of Neurocrine Biosciences by 97.0% in the first quarter. First Trust Advisors LP now owns 959,217 shares of the company’s stock worth $126,367,000 after buying an additional 472,408 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings 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 worth $664,019,000 after buying an additional 468,405 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Royal Bank Of Canada lifted their price target on shares of Neurocrine Biosciences from $180.00 to $183.00 and gave the company an “outperform” rating in a report on Friday, May 29th. Weiss Ratings raised shares of Neurocrine Biosciences from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, June 3rd. Citigroup lifted 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. Wall Street Zen raised shares of Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 25th. Finally, BMO Capital Markets lowered their price target on shares of Neurocrine Biosciences from $147.00 to $140.00 and set a “market perform” rating on the stock in a report on Thursday, February 12th. 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 company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average 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.