Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Director Sells $21,836,853.30 in Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Director Kevin Charles Gorman sold 146,105 shares of the business’s stock in a transaction dated Monday, January 27th. The stock was 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 directly owns 514,596 shares of the company’s stock, valued at $76,911,518.16. This represents a 22.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Neurocrine Biosciences Stock Down 1.0 %

NASDAQ:NBIX opened at $151.82 on Friday. The firm has a 50-day moving average price of $136.97 and a 200 day moving average price of $131.62. The firm has a market capitalization of $15.37 billion, a PE ratio of 40.70 and a beta of 0.33. Neurocrine Biosciences, Inc. has a 12-month low of $110.95 and a 12-month high of $157.98.

Wall Street Analysts Forecast Growth

NBIX has been the subject of several analyst reports. UBS Group boosted their target price on Neurocrine Biosciences from $162.00 to $176.00 and gave the stock a “buy” rating in a report on Thursday. William Blair reiterated an “outperform” rating on shares of Neurocrine Biosciences in a research note on Monday, December 16th. Royal Bank of Canada cut their target price on shares of Neurocrine Biosciences from $136.00 to $133.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. StockNews.com downgraded Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. Finally, BMO Capital Markets cut their price objective on Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating for the company in a research report on Thursday, October 17th. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Neurocrine Biosciences has an average rating of “Moderate Buy” and an average target price of $166.10.

Hedge Funds Weigh In On Neurocrine Biosciences

Hedge funds and other institutional investors have recently modified their holdings of the stock. Golden State Wealth Management LLC acquired a new position in Neurocrine Biosciences during the fourth quarter worth $25,000. Brooklyn Investment Group increased its position in shares of Neurocrine Biosciences by 99.1% during the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock worth $32,000 after purchasing an additional 115 shares in the last quarter. Blue Trust Inc. lifted its holdings in Neurocrine Biosciences by 171.9% during the 3rd 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 last quarter. R Squared Ltd acquired a new position in Neurocrine Biosciences in the fourth quarter valued at about $61,000. Finally, UMB Bank n.a. grew its stake in Neurocrine Biosciences by 211.6% during the fourth quarter. UMB Bank n.a. now owns 455 shares of the company’s stock worth $62,000 after buying an additional 309 shares during the last quarter. Institutional investors 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.