Insider Selling: Neurocrine Biosciences, Inc. (NASDAQ:NBIX) CEO Sells $116,022.20 in Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) CEO Kyle Gano sold 980 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $118.39, for a total transaction of $116,022.20. Following the sale, the chief executive officer now owns 137,658 shares of the company’s stock, valued at approximately $16,297,330.62. This represents a 0.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Kyle Gano also recently made the following trade(s):

• On Friday, January 31st, Kyle Gano sold 1,541 shares of Neurocrine Biosciences stock. The stock was sold at an average price of $152.87, for a total transaction of $235,572.67.
• On Wednesday, January 15th, Kyle Gano sold 65,000 shares of Neurocrine Biosciences stock. The stock was sold at an average price of $141.50, for a total transaction of $9,197,500.00.

Neurocrine Biosciences Price Performance

Shares of NBIX traded up $0.33 during midday trading on Wednesday, hitting $117.18. 2,148,807 shares of the company traded hands, compared to its average volume of 1,350,825. Neurocrine Biosciences, Inc. has a one year low of $110.95 and a one year high of $157.98. The firm has a market cap of $11.86 billion, a P/E ratio of 35.62 and a beta of 0.33. The stock has a 50-day moving average of $138.49 and a 200-day moving average of $131.02.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its earnings results on Thursday, February 6th. The company reported $1.00 earnings per share for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.62). Neurocrine Biosciences had a return on equity of 13.45% and a net margin of 14.49%. Sell-side analysts forecast that Neurocrine Biosciences, Inc. will post 6.53 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. UBS Group upped their price target on shares of Neurocrine Biosciences from $162.00 to $176.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. William Blair reissued an “outperform” rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Neurocrine Biosciences in a research note on Tuesday. They issued a “hold” rating and a $138.00 price target for the company. HC Wainwright cut their target price on Neurocrine Biosciences from $190.00 to $185.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Finally, Piper Sandler reissued an “overweight” rating and issued a $160.00 price objective on shares of Neurocrine Biosciences in a research note on Monday, December 23rd. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Neurocrine Biosciences has a consensus rating of “Moderate Buy” and a consensus target price of $166.90.

Institutional Trading of Neurocrine Biosciences

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Neurocrine Biosciences by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 10,119,641 shares of the company’s stock valued at $1,381,331,000 after buying an additional 122,681 shares during the period. State Street Corp raised its position in shares of Neurocrine Biosciences by 11.7% in the 3rd quarter. State Street Corp now owns 5,148,293 shares of the company’s stock worth $593,186,000 after acquiring an additional 539,936 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Neurocrine Biosciences by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 1,875,062 shares of the company’s stock valued at $255,523,000 after buying an additional 15,830 shares in the last quarter. Wellington Management Group LLP grew its holdings in Neurocrine Biosciences by 102.9% in the fourth quarter. Wellington Management Group LLP now owns 1,457,425 shares of the company’s stock worth $198,939,000 after purchasing an additional 739,199 shares during the period. Finally, Braidwell LP increased its position in Neurocrine Biosciences by 20.9% during the 3rd quarter. Braidwell LP now owns 917,674 shares of the company’s stock valued at $105,734,000 after buying an additional 158,665 shares in the last quarter. Hedge funds and other 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.