Kevin Charles Gorman Sells 146,105 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Director Kevin Charles Gorman sold 146,105 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $149.46, for a total value of $21,836,853.30. Following the completion of the sale, the director now owns 514,596 shares in the company, valued at $76,911,518.16. This represents a 22.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Neurocrine Biosciences Stock Up 1.7 %

Shares of NBIX stock opened at $153.29 on Friday. The company’s fifty day simple moving average is $135.88 and its two-hundred day simple moving average is $131.44. Neurocrine Biosciences, Inc. has a 52 week low of $110.95 and a 52 week high of $157.98. The stock has a market cap of $15.52 billion, a P/E ratio of 41.10 and a beta of 0.33.

Hedge Funds Weigh In On Neurocrine Biosciences

Institutional investors have recently bought and sold shares of the business. Sheaff Brock Investment Advisors LLC boosted its stake in shares of Neurocrine Biosciences by 11.7% during the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 2,499 shares of the company’s stock worth $341,000 after purchasing an additional 261 shares during the period. Principal Securities Inc. grew its stake in shares of Neurocrine Biosciences by 24.3% during the fourth quarter. Principal Securities Inc. now owns 1,382 shares of the company’s stock worth $189,000 after acquiring an additional 270 shares during the last quarter. Autumn Glory Partners LLC purchased a new stake in Neurocrine Biosciences during the 4th quarter valued at about $273,000. Asset Management One Co. Ltd. increased its holdings in Neurocrine Biosciences by 1.7% in the 4th quarter. Asset Management One Co. Ltd. now owns 70,431 shares of the company’s stock worth $9,821,000 after buying an additional 1,201 shares during the period. Finally, Stanley Laman Group Ltd. increased its holdings in shares of Neurocrine Biosciences by 12.3% during the 4th quarter. Stanley Laman Group Ltd. now owns 42,158 shares of the company’s stock valued at $5,755,000 after purchasing an additional 4,627 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Royal Bank of Canada lowered their price target on shares of Neurocrine Biosciences from $136.00 to $133.00 and set a “sector perform” rating on the stock in a research report on Friday, October 4th. Needham & Company LLC reiterated a “hold” rating on shares of Neurocrine Biosciences in a research report on Friday, December 20th. Piper Sandler restated an “overweight” rating and set a $160.00 price target on shares of Neurocrine Biosciences in a report on Monday, December 23rd. Barclays raised their target price on Neurocrine Biosciences from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, December 23rd. Finally, Raymond James reissued an “outperform” rating and set a $155.00 target price on shares of Neurocrine Biosciences in a research report on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $166.10.

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.