Neurocrine Biosciences (NASDAQ:NBIX) Director Sells $227,512.50 in Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Director Leslie Norwalk sold 1,250 shares of the stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $182.01, for a total transaction of $227,512.50. Following the transaction, the director directly owned 1,588 shares in the company, valued at approximately $289,031.88. This represents a 44.05% decrease in their position. The transaction was disclosed in a legal filing 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 Price Performance

Neurocrine Biosciences stock traded up $4.71 during mid-day trading on Thursday, hitting $185.50. The company’s stock had a trading volume of 2,170,803 shares, compared to its average volume of 1,182,411. The business has a 50 day moving average price of $167.01 and a 200-day moving average price of $145.90. Neurocrine Biosciences, Inc. has a 12 month low of $122.14 and a 12 month high of $186.12. The stock has a market cap of $18.65 billion, a price-to-earnings ratio of 28.58, a price-to-earnings-growth ratio of 0.77 and a beta of 0.39.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Thursday, July 30th. The company reported $2.85 EPS for the quarter, topping the consensus estimate of $1.66 by $1.19. Neurocrine Biosciences had a return on equity of 19.79% and a net margin of 21.55%.The firm had revenue of $959.00 million for the quarter, compared to the consensus estimate of $891.16 million. During the same quarter in the previous year, the business earned $1.65 earnings per share. The company’s quarterly revenue was up 39.5% on a year-over-year basis. On average, equities research analysts expect that Neurocrine Biosciences, Inc. will post 7.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Weiss Ratings raised shares of Neurocrine Biosciences from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday. Needham & Company LLC restated a “buy” rating and set a $185.00 target price on shares of Neurocrine Biosciences in a report on Monday, April 6th. Zacks Research upgraded shares of Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 23rd. Leerink Partners raised their target price on shares of Neurocrine Biosciences from $160.00 to $170.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Finally, Guggenheim lifted their target price on shares of Neurocrine Biosciences from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $194.05.

Institutional Trading of Neurocrine Biosciences

A number of hedge funds have recently made changes to their positions in NBIX. DJE Kapital AG purchased a new position in Neurocrine Biosciences during the fourth quarter valued at $28,000. Geneos Wealth Management Inc. grew its stake in shares of Neurocrine Biosciences by 143.6% in the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after acquiring an additional 135 shares during the last quarter. Meeder Asset Management Inc. increased its holdings in shares of Neurocrine Biosciences by 651.6% during the fourth quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock valued at $33,000 after acquiring an additional 202 shares in the last quarter. Basecamp Wealth Advisors LLC raised its position in shares of Neurocrine Biosciences by 582.9% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company’s stock worth $31,000 after purchasing an additional 204 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC bought a new position in Neurocrine Biosciences in the 1st quarter worth about $33,000. 92.59% of the stock is owned by institutional investors.

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.