David Boyer Sells 3,888 Shares of Neurocrine Biosciences (NASDAQ:NBIX) Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) insider David Boyer sold 3,888 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $156.64, for a total transaction of $609,016.32. Following the completion of the sale, the insider owned 7,799 shares of the company’s stock, valued at approximately $1,221,635.36. This represents a 33.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Neurocrine Biosciences Price Performance

Shares of NBIX stock opened at $158.30 on Friday. The firm has a 50-day moving average of $139.36 and a 200-day moving average of $139.16. The company has a market cap of $15.92 billion, a P/E ratio of 24.39, a P/E/G ratio of 1.17 and a beta of 0.34. Neurocrine Biosciences, Inc. has a one year low of $121.42 and a one year high of $162.39.

Hedge Funds Weigh In On Neurocrine Biosciences

Large investors have recently modified their holdings of the business. USA Financial Formulas purchased a new position in shares of Neurocrine Biosciences in the fourth quarter worth about $25,000. Golden State Wealth Management LLC boosted its position in shares of Neurocrine Biosciences by 120.5% in the third quarter. Golden State Wealth Management LLC now owns 183 shares of the company’s stock valued at $26,000 after acquiring an additional 100 shares during the period. DJE Kapital AG bought a new position in shares of Neurocrine Biosciences in the fourth quarter valued at approximately $28,000. Geneos Wealth Management Inc. boosted its position 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 valued at $25,000 after acquiring an additional 135 shares during the period. Finally, Meeder Asset Management Inc. lifted its position in 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 purchasing an additional 202 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on NBIX shares. Wall Street Zen upgraded shares of Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 25th. Leerink Partners raised their price objective on shares of Neurocrine Biosciences from $160.00 to $170.00 and gave the stock an “outperform” rating in a report on Wednesday, April 22nd. JPMorgan Chase & Co. raised their price objective on shares of Neurocrine Biosciences from $177.00 to $185.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Needham & Company LLC restated a “buy” rating and set a $185.00 price objective on shares of Neurocrine Biosciences in a report on Monday, April 6th. Finally, Truist Financial raised their price objective on shares of Neurocrine Biosciences from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Neurocrine Biosciences has an average rating of “Moderate Buy” and a consensus price target of $186.05.

Neurocrine Biosciences Company Profile

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.