Jude Onyia Sells 20,362 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) insider Jude Onyia sold 20,362 shares of the stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $130.13, for a total value of $2,649,707.06. Following the completion of the transaction, the insider directly owned 18,289 shares in the company, valued at approximately $2,379,947.57. This represents a 52.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Neurocrine Biosciences Stock Down 1.0%

Neurocrine Biosciences stock traded down $1.23 during mid-day trading on Monday, reaching $127.88. 537,941 shares of the company’s stock traded hands, compared to its average volume of 1,141,222. Neurocrine Biosciences, Inc. has a 12-month low of $84.23 and a 12-month high of $157.98. The stock has a 50 day moving average of $121.77 and a two-hundred day moving average of $121.59. The company has a market cap of $12.66 billion, a price-to-earnings ratio of 43.35, a PEG ratio of 1.32 and a beta of 0.24.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results on Monday, May 5th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.62). Neurocrine Biosciences had a net margin of 12.68% and a return on equity of 11.81%. The business had revenue of $572.60 million for the quarter, compared to analysts’ expectations of $587.06 million. During the same quarter in the prior year, the company posted $1.20 earnings per share. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Wedbush reaffirmed an “outperform” rating on shares of Neurocrine Biosciences in a research report on Tuesday, May 6th. Canaccord Genuity Group boosted their target price on shares of Neurocrine Biosciences from $158.00 to $160.00 and gave the company a “buy” rating in a research report on Tuesday, May 6th. Guggenheim lifted their price target on shares of Neurocrine Biosciences from $155.00 to $165.00 and gave the stock a “buy” rating in a research note on Tuesday, May 6th. Piper Sandler reissued an “overweight” rating and set a $154.00 price objective (down previously from $160.00) on shares of Neurocrine Biosciences in a research report on Tuesday, May 6th. Finally, Wall Street Zen cut Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 20th. Three investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $162.00.

Institutional Investors Weigh In On Neurocrine Biosciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dodge & Cox boosted its holdings in shares of Neurocrine Biosciences by 83.5% in the 1st quarter. Dodge & Cox now owns 5,534,624 shares of the company’s stock worth $612,129,000 after purchasing an additional 2,518,199 shares during the period. Raymond James Financial Inc. bought a new stake in Neurocrine Biosciences in the fourth quarter worth $115,193,000. Wellington Management Group LLP boosted its stake in Neurocrine Biosciences by 102.9% during the fourth quarter. Wellington Management Group LLP now owns 1,457,425 shares of the company’s stock worth $198,939,000 after buying an additional 739,199 shares during the period. Thrivent Financial for Lutherans increased its position in Neurocrine Biosciences by 2,759.4% during the fourth quarter. Thrivent Financial for Lutherans now owns 737,772 shares of the company’s stock valued at $100,705,000 after acquiring an additional 711,970 shares during the last quarter. Finally, Orbimed Advisors LLC raised its stake in shares of Neurocrine Biosciences by 210.4% in the fourth quarter. Orbimed Advisors LLC now owns 938,120 shares of the company’s stock valued at $128,053,000 after acquiring an additional 635,900 shares during the period. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, neuroendocrine, and neuropsychiatric disorders in the United States and internationally. The company’s products include INGREZZA for tardive dyskinesia and chorea associated with Huntington’s disease; ALKINDI for adrenal insufficiency; Efmody capsules for classic congenital adrenal hyperplasia; Orilissa tablets for endometriosis; and Oriahnn capsules to treat uterine fibroids.