Key Points
- Neurocrine Biosciences director Richard Pops sold 15,000 shares on May 15 at an average price of $157.65, totaling about $2.36 million. The sale reduced his ownership by 30.32% and was made under a pre-arranged Rule 10b5-1 trading plan.
- NBIX shares were slightly lower, opening at $157.21 and trading down 0.8% in the session. The stock is near its 52-week high of $162.39 and well above its 50-day and 200-day moving averages.
- Analysts remain broadly positive on the stock, with a consensus rating of “Moderate Buy” and an average price target of $184.15. Recent firms including RBC, Canaccord Genuity, JPMorgan, and Guggenheim all maintained or raised favorable targets and ratings.
Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Get Free Report) Director Richard Pops sold 15,000 shares of the business's stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $157.65, for a total value of $2,364,750.00. Following the transaction, the director owned 34,480 shares in the company, valued at $5,435,772. This represents a 30.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Neurocrine Biosciences Trading Down 0.8%
Shares of NASDAQ:NBIX opened at $157.21 on Tuesday. The business's 50 day moving average is $134.60 and its 200-day moving average is $138.45. The firm has a market capitalization of $15.81 billion, a PE ratio of 24.22, a PEG ratio of 1.19 and a beta of 0.34. Neurocrine Biosciences, Inc. has a 1-year low of $117.59 and a 1-year high of $162.39.
Hedge Funds Weigh In On Neurocrine Biosciences
Large investors have recently modified their holdings of the stock. Arete Wealth Advisors LLC bought a new position in Neurocrine Biosciences in the 1st quarter worth approximately $3,037,000. ADAR1 Capital Management LLC acquired a new position in shares of Neurocrine Biosciences during the first quarter valued at $329,000. Amundi increased its position in Neurocrine Biosciences by 22.4% in the first quarter. Amundi now owns 203,637 shares of the company's stock worth $26,827,000 after purchasing an additional 37,287 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Neurocrine Biosciences by 4.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,557 shares of the company's stock worth $600,000 after purchasing an additional 202 shares during the last quarter. Finally, Talon Private Wealth LLC acquired a new position in Neurocrine Biosciences during the 1st quarter valued at about $631,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research analysts recently issued reports on the stock. Royal Bank Of Canada increased their price target on shares of Neurocrine Biosciences from $176.00 to $180.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 6th. Canaccord Genuity Group upped their price target on Neurocrine Biosciences from $164.00 to $200.00 and gave the company a "buy" rating in a research report on Tuesday, April 7th. Zacks Research upgraded shares of Neurocrine Biosciences from a "strong sell" rating to a "hold" rating in a research note on Wednesday, April 15th. JPMorgan Chase & Co. lifted their price target on shares of Neurocrine Biosciences from $177.00 to $185.00 and gave the company an "overweight" rating in a report on Friday, May 8th. Finally, Guggenheim reaffirmed a "buy" rating and set a $175.00 price objective on shares of Neurocrine Biosciences in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $184.15.
Check Out Our Latest Stock Report on NBIX
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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