Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Director Kevin Charles Gorman Sells 106,322 Shares

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Director Kevin Charles Gorman sold 106,322 shares of the stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $126.41, for a total value of $13,440,164.02. Following the sale, the director owned 514,596 shares of the company’s stock, valued at $65,050,080.36. This represents a 17.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Kevin Charles Gorman also recently made the following trade(s):

• On Tuesday, May 27th, Kevin Charles Gorman sold 9,613 shares of Neurocrine Biosciences stock. The stock was sold at an average price of $120.38, for a total value of $1,157,212.94.

Neurocrine Biosciences Stock Performance

Shares of NBIX stock opened at $123.98 on Tuesday. Neurocrine Biosciences, Inc. has a 52-week low of $84.23 and a 52-week high of $154.87. The firm has a market capitalization of $12.30 billion, a P/E ratio of 36.68, a P/E/G ratio of 0.90 and a beta of 0.25. The stock has a 50 day moving average price of $128.71 and a 200 day moving average price of $119.93.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.08. The firm had revenue of $687.50 million during the quarter, compared to analyst estimates of $653.09 million. Neurocrine Biosciences had a return on equity of 13.22% and a net margin of 13.88%. Neurocrine Biosciences’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same period last year, the company earned $1.63 EPS. As a group, sell-side analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Geneos Wealth Management Inc. increased its holdings in 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 purchasing an additional 135 shares during the period. WPG Advisers LLC purchased a new position in Neurocrine Biosciences during the 1st quarter worth $32,000. Smallwood Wealth Investment Management LLC purchased a new position in Neurocrine Biosciences during the 1st quarter worth $34,000. GeoWealth Management LLC increased its holdings in Neurocrine Biosciences by 65.4% during the 4th quarter. GeoWealth Management LLC now owns 258 shares of the company’s stock worth $35,000 after purchasing an additional 102 shares during the period. Finally, SVB Wealth LLC purchased a new position in Neurocrine Biosciences during the 1st quarter worth $35,000. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the company. UBS Group increased their target price on Neurocrine Biosciences from $152.00 to $174.00 and gave the stock a “buy” rating in a research report on Wednesday, July 9th. Stifel Nicolaus increased their target price on Neurocrine Biosciences from $166.00 to $174.00 and gave the stock a “buy” rating in a research report on Thursday, July 31st. Wall Street Zen upgraded Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 2nd. Piper Sandler increased their target price on Neurocrine Biosciences from $154.00 to $175.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. Finally, HC Wainwright cut their target price on Neurocrine Biosciences from $185.00 to $168.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Three research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $160.90.

About Neurocrine Biosciences

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.