Neurocrine Biosciences, Inc. (NASDAQ:NBIX) CEO Sells $9,197,500.00 in 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 completion of the transaction, the chief executive officer now owns 135,392 shares of the company’s stock, valued at $19,157,968. This trade represents a 32.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ NBIX opened at $143.26 on Friday. Neurocrine Biosciences, Inc. has a 1 year low of $110.95 and a 1 year high of $157.98. The firm has a market cap of $14.51 billion, a P/E ratio of 38.41 and a beta of 0.33. The stock has a fifty day moving average price of $131.84 and a two-hundred day moving average price of $131.20.

Analyst Ratings Changes

Several research analysts have recently commented on the company. StockNews.com lowered Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. UBS Group increased their target price 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. Needham & Company LLC reaffirmed a “hold” rating on shares of Neurocrine Biosciences in a research report on Friday, December 20th. Piper Sandler reiterated an “overweight” rating and set a $160.00 price objective on shares of Neurocrine Biosciences in a research note on Monday, December 23rd. Finally, Wedbush reiterated an “outperform” rating and set a $148.00 price target on shares of Neurocrine Biosciences in a research report on Monday, December 16th. Five research 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 company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $164.81.

Institutional Trading of Neurocrine Biosciences

A number of hedge funds and other institutional investors have recently made changes to their positions in NBIX. Whalen Wealth Management Inc. acquired a new position in shares of Neurocrine Biosciences in the 4th quarter valued at $264,000. Janney Montgomery Scott LLC grew its holdings in shares of Neurocrine Biosciences by 7.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 17,545 shares of the company’s stock valued at $2,395,000 after buying an additional 1,150 shares in the last quarter. Daymark Wealth Partners LLC acquired a new position in Neurocrine Biosciences during the fourth quarter valued at $244,000. Perpetual Ltd boosted its position in Neurocrine Biosciences by 4.3% during the 4th quarter. Perpetual Ltd now owns 13,101 shares of the company’s stock worth $1,788,000 after acquiring an additional 541 shares during the period. Finally, Ballentine Partners LLC purchased a new position in Neurocrine Biosciences during the 4th quarter valued at about $229,000. 92.59% of the stock is currently owned by institutional investors.

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.