Key Points
- Neurocrine Biosciences insider Jude Onyia sold 11,000 shares on May 27 at an average price of $155.53, generating about $1.71 million. After the sale, Onyia still held 25,846 shares, and the trade was made under a pre-arranged Rule 10b5-1 plan.
- NBIX shares were up 1.2% and opened at $158.30, near their 52-week high of $162.39. The stock also trades above both its 50-day and 200-day moving averages.
- Analyst sentiment remains positive, with several firms raising price targets, including Sanford C. Bernstein initiating coverage with an $221 target. MarketBeat data shows a consensus rating of “Moderate Buy” and an average price target of $186.05.
Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Get Free Report) insider Jude Onyia sold 11,000 shares of Neurocrine Biosciences stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $155.53, for a total transaction of $1,710,830.00. Following the sale, the insider owned 25,846 shares in the company, valued at approximately $4,019,828.38. This represents a 29.85% decrease in their ownership of the stock. The sale was disclosed in a 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 Stock Up 1.2%
Shares of NASDAQ NBIX opened at $158.30 on Friday. The firm's 50-day simple moving average is $139.36 and its 200 day simple moving average is $139.16. Neurocrine Biosciences, Inc. has a fifty-two week low of $121.42 and a fifty-two week high of $162.39. The stock has a market cap of $15.92 billion, a P/E ratio of 24.39, a P/E/G ratio of 1.17 and a beta of 0.34.
Analyst Upgrades and Downgrades
Several brokerages have commented on NBIX. Sanford C. Bernstein began coverage on shares of Neurocrine Biosciences in a research report on Friday, May 22nd. They issued an "outperform" rating and a $221.00 price target on the stock. Canaccord Genuity Group boosted their price target on shares of Neurocrine Biosciences from $164.00 to $200.00 and gave the stock a "buy" rating in a research report on Tuesday, April 7th. Royal Bank Of Canada boosted their price target on shares of Neurocrine Biosciences from $180.00 to $183.00 and gave the stock an "outperform" rating in a research report on Friday. Wedbush boosted their price target on shares of Neurocrine Biosciences from $166.00 to $176.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 6th. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Neurocrine Biosciences in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $186.05.
Read Our Latest Report on Neurocrine Biosciences
Institutional Trading of Neurocrine Biosciences
Several institutional investors and hedge funds have recently bought and sold shares of the stock. AlTi Global Inc. lifted its position in shares of Neurocrine Biosciences by 1.0% during the 3rd quarter. AlTi Global Inc. now owns 6,828 shares of the company's stock worth $959,000 after purchasing an additional 70 shares during the last quarter. Huntington National Bank lifted its position in shares of Neurocrine Biosciences by 12.6% during the 4th quarter. Huntington National Bank now owns 678 shares of the company's stock worth $96,000 after purchasing an additional 76 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in shares of Neurocrine Biosciences by 0.7% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 11,112 shares of the company's stock worth $1,560,000 after purchasing an additional 77 shares during the last quarter. Perigon Wealth Management LLC lifted its position in shares of Neurocrine Biosciences by 3.1% during the 4th quarter. Perigon Wealth Management LLC now owns 2,590 shares of the company's stock worth $367,000 after purchasing an additional 78 shares during the last quarter. Finally, Motley Fool Asset Management LLC lifted its position in shares of Neurocrine Biosciences by 4.8% during the 4th quarter. Motley Fool Asset Management LLC now owns 1,693 shares of the company's stock worth $240,000 after purchasing an additional 78 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company's stock.
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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