Insider Selling: Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Director Sells $2,090,332.50 in Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Director William H. Rastetter sold 14,250 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $146.69, for a total transaction of $2,090,332.50. Following the transaction, the director now owns 37,491 shares of the company’s stock, valued at $5,499,554.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Neurocrine Biosciences Price Performance

NBIX opened at $145.01 on Monday. The firm has a market capitalization of $14.59 billion, a price-to-earnings ratio of 39.95 and a beta of 0.37. The company’s 50 day simple moving average is $141.96 and its two-hundred day simple moving average is $138.93. Neurocrine Biosciences, Inc. has a 1-year low of $103.63 and a 1-year high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.52). The company had revenue of $590.20 million during the quarter, compared to analyst estimates of $545.98 million. Neurocrine Biosciences had a net margin of 16.00% and a return on equity of 14.86%. Neurocrine Biosciences’s revenue for the quarter was up 30.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.95 EPS. On average, equities analysts anticipate that Neurocrine Biosciences, Inc. will post 4.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NBIX. StockNews.com raised Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 4th. Wedbush reiterated an “outperform” rating and issued a $152.00 target price on shares of Neurocrine Biosciences in a research note on Wednesday, May 29th. Barclays raised their price target on shares of Neurocrine Biosciences from $169.00 to $180.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Citigroup upped their price objective on shares of Neurocrine Biosciences from $150.00 to $158.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Finally, Evercore ISI began coverage on Neurocrine Biosciences in a research report on Tuesday, May 14th. They set an “outperform” rating and a $175.00 target price on the stock. Six analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Neurocrine Biosciences presently has a consensus rating of “Moderate Buy” and a consensus target price of $158.68.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC increased its position in Neurocrine Biosciences by 7,880.3% during the fourth quarter. International Assets Investment Management LLC now owns 5,666 shares of the company’s stock worth $747,000 after purchasing an additional 5,595 shares during the last quarter. Cerity Partners LLC acquired a new stake in shares of Neurocrine Biosciences during the 4th quarter worth approximately $575,000. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Neurocrine Biosciences by 5.3% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 243,935 shares of the company’s stock valued at $32,141,000 after buying an additional 12,382 shares during the period. Strs Ohio acquired a new position in Neurocrine Biosciences in the fourth quarter valued at approximately $1,957,000. Finally, Mackenzie Financial Corp grew its position in Neurocrine Biosciences by 1.3% in the fourth quarter. Mackenzie Financial Corp now owns 96,855 shares of the company’s stock worth $12,762,000 after acquiring an additional 1,224 shares during the period. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Company Profile

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.