Insider Selling: Neurocrine Biosciences (NASDAQ:NBIX) Director Sells $210,075.00 in Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Director Leslie Norwalk sold 1,250 shares of Neurocrine Biosciences stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $168.06, for a total transaction of $210,075.00. Following the completion of the transaction, the director directly owned 2,838 shares in the company, valued at $476,954.28. The trade was a 30.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Neurocrine Biosciences Price Performance

Shares of Neurocrine Biosciences stock opened at $160.86 on Thursday. The firm’s fifty day simple moving average is $144.73 and its 200-day simple moving average is $140.20. The stock has a market capitalization of $16.17 billion, a price-to-earnings ratio of 24.79, a PEG ratio of 1.24 and a beta of 0.40. Neurocrine Biosciences, Inc. has a 12 month low of $122.14 and a 12 month high of $169.57.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on NBIX. Sanford C. Bernstein began coverage on shares of Neurocrine Biosciences in a report on Friday, May 22nd. They issued an “outperform” rating and a $221.00 target price on the stock. Leerink Partners lifted their target price on shares of Neurocrine Biosciences from $160.00 to $170.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. Citigroup lifted their target price on shares of Neurocrine Biosciences from $242.00 to $246.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. JPMorgan Chase & Co. lifted their target price on shares of Neurocrine Biosciences from $177.00 to $185.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Finally, Wells Fargo & Company lowered their price objective on shares of Neurocrine Biosciences from $180.00 to $175.00 and set an “overweight” rating on the stock in a research report on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Neurocrine Biosciences has an average rating of “Moderate Buy” and an average target price of $187.52.

Hedge Funds Weigh In On Neurocrine Biosciences

A number of hedge funds and other institutional investors have recently bought and sold shares of NBIX. AQR Capital Management LLC grew its position in Neurocrine Biosciences by 83.7% in the 3rd quarter. AQR Capital Management LLC now owns 2,773,648 shares of the company’s stock valued at $388,435,000 after buying an additional 1,263,633 shares during the last quarter. Norges Bank purchased a new position in Neurocrine Biosciences in the 4th quarter valued at $162,664,000. UBS Group AG grew its position in Neurocrine Biosciences by 169.8% in the 4th quarter. UBS Group AG now owns 983,528 shares of the company’s stock valued at $139,494,000 after buying an additional 618,956 shares during the last quarter. First Trust Advisors LP grew its position in Neurocrine Biosciences by 97.0% in the 1st quarter. First Trust Advisors LP now owns 959,217 shares of the company’s stock valued at $126,367,000 after buying an additional 472,408 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in Neurocrine Biosciences by 11.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,730,152 shares of the company’s stock valued at $664,019,000 after buying an additional 468,405 shares during the last quarter. 92.59% of the stock is currently owned by hedge funds and other 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.