Insider Selling: Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Director Sells 30,000 Shares of Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Director William H. Rastetter sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $110.20, for a total transaction of $3,306,000.00. Following the completion of the sale, the director now directly owns 37,491 shares of the company’s stock, valued at approximately $4,131,508.20. This represents a 44.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Neurocrine Biosciences Stock Down 3.4 %

Shares of NASDAQ:NBIX opened at $117.52 on Friday. The firm has a market cap of $11.63 billion, a price-to-earnings ratio of 35.72, a PEG ratio of 0.77 and a beta of 0.26. Neurocrine Biosciences, Inc. has a 12 month low of $84.23 and a 12 month high of $157.98. The company’s fifty day simple moving average is $106.18 and its 200 day simple moving average is $121.81.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.62). The firm had revenue of $572.60 million during the quarter, compared to the consensus estimate of $587.06 million. Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.38%. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.20 earnings per share. Research analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Neurocrine Biosciences announced that its board has initiated a share buyback plan on Friday, February 21st that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 4.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Morgan Stanley reissued an “overweight” rating and issued a $150.00 target price (down from $185.00) on shares of Neurocrine Biosciences in a research note on Friday, March 7th. HC Wainwright dropped their price objective on Neurocrine Biosciences from $185.00 to $168.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. JPMorgan Chase & Co. raised their target price on shares of Neurocrine Biosciences from $183.00 to $184.00 and gave the company an “overweight” rating in a research note on Wednesday, March 26th. BMO Capital Markets increased their price objective on shares of Neurocrine Biosciences from $96.00 to $115.00 and gave the company a “market perform” rating in a report on Tuesday. Finally, Needham & Company LLC lifted their target price on shares of Neurocrine Biosciences from $138.00 to $139.00 and gave the stock a “buy” rating in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $162.00.

Institutional Trading of Neurocrine Biosciences

A number of institutional investors have recently made changes to their positions in the business. Caprock Group LLC bought a new stake in Neurocrine Biosciences during the 4th quarter worth about $236,000. Charles Schwab Investment Management Inc. increased its position in shares of Neurocrine Biosciences by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 762,557 shares of the company’s stock worth $104,089,000 after purchasing an additional 15,266 shares during the last quarter. Oakworth Capital Inc. bought a new stake in shares of Neurocrine Biosciences during the 4th quarter worth approximately $379,000. Avantax Advisory Services Inc. boosted its holdings in shares of Neurocrine Biosciences by 11.4% in the 4th quarter. Avantax Advisory Services Inc. now owns 2,895 shares of the company’s stock valued at $395,000 after buying an additional 297 shares during the last quarter. Finally, Synergy Asset Management LLC bought a new position in shares of Neurocrine Biosciences in the fourth quarter valued at $996,000. 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.