Key Points
- Insider sale: Neurocrine Biosciences insider David Boyer sold 3,888 shares on May 26 at an average price of $156.64, totaling about $609,016. The sale, executed under a pre-arranged Rule 10b5-1 plan, reduced his position by 33.27%.
- Stock near highs: NBIX opened at $156.39, just below its 52-week high of $162.39, and remains well above its 50-day and 200-day moving averages. The company has a market cap of about $15.73 billion and a beta of 0.34.
- Wall Street sentiment remains positive: Analysts have a consensus rating of Moderate Buy with an average price target of $185.90. Recent calls included target increases from Morgan Stanley and JPMorgan, while Sanford C. Bernstein initiated coverage with an outperform rating.
Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Get Free Report) insider David Boyer sold 3,888 shares of the business's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $156.64, for a total transaction of $609,016.32. Following the completion of the sale, the insider directly owned 7,799 shares of the company's stock, valued at approximately $1,221,635.36. The trade was a 33.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Neurocrine Biosciences Stock Performance
Shares of Neurocrine Biosciences stock opened at $156.39 on Friday. The firm has a 50-day moving average of $138.81 and a 200-day moving average of $139.02. The stock has a market cap of $15.73 billion, a PE ratio of 24.10, a PEG ratio of 1.17 and a beta of 0.34. Neurocrine Biosciences, Inc. has a 52-week low of $121.42 and a 52-week high of $162.39.
Institutional Trading of Neurocrine Biosciences
Several hedge funds and other institutional investors have recently made changes to their positions in NBIX. JPMorgan Chase & Co. boosted its holdings in Neurocrine Biosciences by 11.0% in the third quarter. JPMorgan Chase & Co. now owns 4,730,152 shares of the company's stock valued at $664,019,000 after acquiring an additional 468,405 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Neurocrine Biosciences by 18.0% in the fourth quarter. AQR Capital Management LLC now owns 3,271,706 shares of the company's stock valued at $462,652,000 after acquiring an additional 498,058 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Neurocrine Biosciences by 8.0% in the first quarter. Renaissance Technologies LLC now owns 2,418,897 shares of the company's stock valued at $318,665,000 after acquiring an additional 180,100 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Neurocrine Biosciences by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 2,059,282 shares of the company's stock valued at $291,342,000 after acquiring an additional 34,457 shares during the last quarter. Finally, Los Angeles Capital Management LLC boosted its holdings in Neurocrine Biosciences by 7.4% in the fourth quarter. Los Angeles Capital Management LLC now owns 1,291,278 shares of the company's stock valued at $178,248,000 after acquiring an additional 88,522 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several research analysts have commented on the company. Morgan Stanley boosted their target price on Neurocrine Biosciences from $185.00 to $191.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 6th. JPMorgan Chase & Co. boosted their target price on Neurocrine Biosciences from $177.00 to $185.00 and gave the stock an "overweight" rating in a research note on Friday, May 8th. Sanford C. Bernstein assumed coverage on Neurocrine Biosciences in a research note on Friday, May 22nd. They set an "outperform" rating and a $221.00 target price for the company. BMO Capital Markets lowered their target price on Neurocrine Biosciences from $147.00 to $140.00 and set a "market perform" rating for the company in a research note on Thursday, February 12th. Finally, Guggenheim reissued a "buy" rating and set a $175.00 target price on shares of Neurocrine Biosciences in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $185.90.
Read Our Latest Research 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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