Key Points
- Director Leslie Norwalk sold 3,810 shares of Neurocrine Biosciences on May 12 at an average price of $155.01, totaling about $590,588. The sale was made under a pre-arranged Rule 10b5-1 trading plan, and her remaining stake fell 61.07% to 2,429 shares.
- NBIX shares were down 1.4% in recent trading, opening at $159.05, near the stock’s 52-week high of $162.39. The company has a market cap of about $15.99 billion and a beta of 0.34.
- Neurocrine’s last quarterly report showed EPS of $1.88, missing analyst expectations of $2.36, while revenue came in at $805.5 million, slightly above estimates and up 28.3% year over year. Analysts currently maintain a Moderate Buy consensus with an average price target of $184.15.
Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Get Free Report) Director Leslie Norwalk sold 3,810 shares of the firm's stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $155.01, for a total transaction of $590,588.10. Following the completion of the sale, the director directly owned 2,429 shares in the company, valued at approximately $376,519.29. This trade represents a 61.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Neurocrine Biosciences Trading Down 1.4%
Shares of NASDAQ:NBIX opened at $159.05 on Friday. The company has a 50-day moving average price of $133.55 and a 200-day moving average price of $138.32. The company has a market cap of $15.99 billion, a price-to-earnings ratio of 24.51, a price-to-earnings-growth ratio of 1.21 and a beta of 0.34. Neurocrine Biosciences, Inc. has a 12 month low of $117.40 and a 12 month high of $162.39.
Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last posted its earnings results on Wednesday, February 11th. The company reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.36 by ($0.48). Neurocrine Biosciences had a return on equity of 19.79% and a net margin of 21.55%.The business had revenue of $805.50 million during the quarter, compared to the consensus estimate of $804.21 million. During the same period in the previous year, the business earned $1.69 earnings per share. The firm's revenue for the quarter was up 28.3% compared to the same quarter last year. As a group, research analysts forecast that Neurocrine Biosciences, Inc. will post 7.16 EPS for the current fiscal year.
Analyst Ratings Changes
A number of brokerages have recently weighed in on NBIX. Guggenheim reiterated a "buy" rating and issued a $175.00 price objective on shares of Neurocrine Biosciences in a research report on Wednesday, May 6th. Zacks Research upgraded shares of Neurocrine Biosciences from a "strong sell" rating to a "hold" rating in a report on Wednesday, April 15th. Piper Sandler upped their target price on Neurocrine Biosciences from $190.00 to $207.00 and gave the stock an "overweight" rating in a report on Wednesday, May 6th. JPMorgan Chase & Co. raised their target price on Neurocrine Biosciences from $177.00 to $185.00 and gave the company an "overweight" rating in a research note on Friday, May 8th. Finally, BMO Capital Markets reduced their price target on Neurocrine Biosciences from $147.00 to $140.00 and set a "market perform" rating on the stock in a research note on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $184.15.
Get Our Latest Analysis on Neurocrine Biosciences
Institutional Investors Weigh In On Neurocrine Biosciences
Several hedge funds have recently added to or reduced their stakes in NBIX. Nilsine Partners LLC bought a new position in Neurocrine Biosciences in the 4th quarter worth about $1,197,000. Ruffer LLP bought a new stake in Neurocrine Biosciences during the 4th quarter valued at about $2,479,000. Korea Investment CORP increased its stake in Neurocrine Biosciences by 94.3% during the 3rd quarter. Korea Investment CORP now owns 71,689 shares of the company's stock valued at $10,064,000 after purchasing an additional 34,800 shares in the last quarter. CIBC Private Wealth Group LLC raised its holdings in Neurocrine Biosciences by 17,250.0% in the third quarter. CIBC Private Wealth Group LLC now owns 7,981 shares of the company's stock worth $1,120,000 after buying an additional 7,935 shares during the last quarter. Finally, Focus Partners Advisor Solutions LLC raised its holdings in Neurocrine Biosciences by 152.5% in the third quarter. Focus Partners Advisor Solutions LLC now owns 13,263 shares of the company's stock worth $1,945,000 after buying an additional 8,011 shares during the last quarter. 92.59% of the stock is owned by institutional investors.
About Neurocrine Biosciences
(
Get Free Report)
Neurocrine Biosciences (NASDAQ: NBIX) is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research‐driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine's operations encompass drug discovery, clinical development and commercialization activities.
The company's lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.
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