Neurocrine Biosciences (NASDAQ:NBIX) Insider David Boyer Sells 826 Shares

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) insider David Boyer sold 826 shares of Neurocrine Biosciences stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $157.45, for a total transaction of $130,053.70. Following the transaction, the insider owned 8,722 shares of the company’s stock, valued at $1,373,278.90. The trade was a 8.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Neurocrine Biosciences Stock Down 4.6%

Shares of NBIX opened at $150.02 on Wednesday. The stock has a market cap of $15.25 billion, a P/E ratio of 22.00, a P/E/G ratio of 0.73 and a beta of 0.38. The business’s 50 day moving average price is $163.57 and its 200-day moving average price is $151.73. Neurocrine Biosciences, Inc. has a 52 week low of $122.14 and a 52 week high of $186.12.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data on Friday, July 31st. The company reported $2.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $1.20. The company had revenue of $959.00 million during the quarter, compared to analyst estimates of $891.16 million. Neurocrine Biosciences had a return on equity of 22.43% and a net margin of 20.91%.The firm’s revenue for the quarter was up 39.5% on a year-over-year basis. During the same quarter last year, the company earned $1.65 EPS. On average, equities analysts anticipate that Neurocrine Biosciences, Inc. will post 7.25 EPS for the current year.

Hedge Funds Weigh In On Neurocrine Biosciences

Several hedge funds and other institutional investors have recently modified their holdings of NBIX. NewEdge Advisors LLC raised its position in shares of Neurocrine Biosciences by 0.5% in the first quarter. NewEdge Advisors LLC now owns 13,066 shares of the company’s stock valued at $1,721,000 after buying an additional 68 shares during the last quarter. Huntington National Bank lifted its stake in shares of Neurocrine Biosciences by 12.6% in the fourth quarter. Huntington National Bank now owns 678 shares of the company’s stock worth $96,000 after buying an additional 76 shares in the last quarter. Motley Fool Asset Management LLC boosted its position in Neurocrine Biosciences by 4.8% during the fourth quarter. Motley Fool Asset Management LLC now owns 1,693 shares of the company’s stock worth $240,000 after acquiring an additional 78 shares during the last quarter. Main Management ETF Advisors LLC grew its stake in Neurocrine Biosciences by 1.0% during the 4th quarter. Main Management ETF Advisors LLC now owns 7,830 shares of the company’s stock valued at $1,111,000 after acquiring an additional 80 shares in the last quarter. Finally, Westpac Banking Corp grew its stake in Neurocrine Biosciences by 6.0% during the 1st quarter. Westpac Banking Corp now owns 1,615 shares of the company’s stock valued at $213,000 after acquiring an additional 91 shares in the last quarter. 92.59% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on NBIX shares. Canaccord Genuity Group lifted their price target on Neurocrine Biosciences from $200.00 to $210.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Truist Financial increased their price objective on shares of Neurocrine Biosciences from $200.00 to $213.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Cantor Fitzgerald raised their price objective on shares of Neurocrine Biosciences from $210.00 to $215.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Needham & Company LLC lifted their target price on shares of Neurocrine Biosciences from $200.00 to $204.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Finally, BMO Capital Markets upped their target price on shares of Neurocrine Biosciences from $144.00 to $170.00 and gave the stock a “market perform” rating in a research note on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $201.09.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for neurological, neuroendocrine and psychiatric disorders. The company develops therapies for conditions with significant unmet medical needs, using expertise in neuroscience and endocrine biology.

Its primary commercial product is INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor approved in the United States for the treatment of tardive dyskinesia and chorea associated with Huntington’s disease.