Insider Selling: Neurocrine Biosciences, Inc. (NASDAQ:NBIX) CEO Sells 65,000 Shares of Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) CEO Kyle Gano sold 65,000 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $141.50, for a total value of $9,197,500.00. Following the transaction, the chief executive officer now directly owns 135,392 shares of the company’s stock, valued at $19,157,968. This trade represents a 32.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Neurocrine Biosciences Price Performance

NASDAQ NBIX opened at $143.26 on Friday. The stock has a market capitalization of $14.51 billion, a P/E ratio of 38.41 and a beta of 0.33. The business has a 50 day simple moving average of $131.84 and a 200 day simple moving average of $131.16. Neurocrine Biosciences, Inc. has a one year low of $110.95 and a one year high of $157.98.

Analyst Ratings Changes

Several research analysts have commented on NBIX shares. Raymond James reissued an “outperform” rating and set a $155.00 target price on shares of Neurocrine Biosciences in a research note on Thursday, October 10th. Piper Sandler restated an “overweight” rating and issued a $160.00 target price on shares of Neurocrine Biosciences in a research report on Monday, December 23rd. UBS Group upped their price target on shares of Neurocrine Biosciences from $142.00 to $162.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. BMO Capital Markets cut their price objective on Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating on the stock in a report on Thursday, October 17th. Finally, Wedbush restated an “outperform” rating and set a $148.00 price objective on shares of Neurocrine Biosciences in a research report on Monday, December 16th. Five equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $164.81.

Institutional Trading of Neurocrine Biosciences

Large investors have recently modified their holdings of the stock. Brooklyn Investment Group boosted its stake in Neurocrine Biosciences by 99.1% during the fourth quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock worth $32,000 after acquiring an additional 115 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Neurocrine Biosciences by 171.9% during the third quarter. Blue Trust Inc. now owns 348 shares of the company’s stock valued at $40,000 after purchasing an additional 220 shares during the period. UMB Bank n.a. boosted its position in shares of Neurocrine Biosciences by 211.6% during the 4th quarter. UMB Bank n.a. now owns 455 shares of the company’s stock worth $62,000 after purchasing an additional 309 shares in the last quarter. Truvestments Capital LLC acquired a new stake in shares of Neurocrine Biosciences in the 3rd quarter valued at about $63,000. Finally, True Wealth Design LLC raised its stake in Neurocrine Biosciences by 11,740.0% during the 3rd quarter. True Wealth Design LLC now owns 592 shares of the company’s stock worth $68,000 after buying an additional 587 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

About Neurocrine Biosciences

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.