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 Neurocrine Biosciences stock in a transaction dated 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 sale, the chief executive officer now owns 135,392 shares of the company’s stock, valued at approximately $19,157,968. This represents a 32.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Neurocrine Biosciences Trading Up 0.9 %

Shares of NBIX traded up $1.34 during mid-day trading on Friday, hitting $143.26. 976,444 shares of the company traded hands, compared to its average volume of 952,731. Neurocrine Biosciences, Inc. has a one year low of $110.95 and a one year high of $157.98. The stock has a market capitalization of $14.51 billion, a price-to-earnings ratio of 38.41 and a beta of 0.33. The business has a 50-day moving average of $131.49 and a 200 day moving average of $131.18.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on NBIX shares. Raymond James reiterated an “outperform” rating and issued a $155.00 target price on shares of Neurocrine Biosciences in a research note on Thursday, October 10th. Wedbush reissued an “outperform” rating and set a $148.00 price target on shares of Neurocrine Biosciences in a research report on Monday, December 16th. UBS Group increased their target price on Neurocrine Biosciences from $142.00 to $162.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Barclays upped their target price on shares of Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday, December 23rd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Neurocrine Biosciences in a report on Friday, December 20th. Five analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $164.81.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NBIX. Brooklyn Investment Group grew its stake in shares of Neurocrine Biosciences by 99.1% in the fourth quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock valued at $32,000 after buying an additional 115 shares in the last quarter. Blue Trust Inc. raised its stake in Neurocrine Biosciences by 171.9% during the third quarter. Blue Trust Inc. now owns 348 shares of the company’s stock worth $40,000 after acquiring an additional 220 shares in the last quarter. UMB Bank n.a. raised its position in Neurocrine Biosciences by 211.6% in the fourth quarter. UMB Bank n.a. now owns 455 shares of the company’s stock valued at $62,000 after purchasing an additional 309 shares during the last quarter. Truvestments Capital LLC bought a new position in shares of Neurocrine Biosciences during the third quarter worth about $63,000. Finally, True Wealth Design LLC increased its position in shares of Neurocrine Biosciences by 11,740.0% during the third 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. 92.59% of the stock is owned by institutional investors and hedge funds.

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.