Key Points
- Insider sale: Neurocrine Biosciences insider Jude Onyia sold 11,000 shares on June 1 at an average price of $160.25, totaling about $1.76 million. The sale reduced his ownership by nearly 30% and was made under a pre-arranged Rule 10b5-1 plan.
- Recent trading activity: Onyia also sold 11,000 shares on May 27 at an average price of $155.53, for about $1.71 million. This suggests continued insider selling over a short period.
- Analyst sentiment remains positive: Wall Street analysts still broadly rate NBIX a Moderate Buy, with an average price target of $187.52. The stock was trading at $154.84, below several analysts’ targets.
Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Get Free Report) insider Ingrid Delaet sold 2,261 shares of the stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $156.71, for a total transaction of $354,321.31. Following the completion of the transaction, the insider directly owned 16,225 shares of the company's stock, valued at $2,542,619.75. This trade represents a 12.23% decrease in their position. The transaction was disclosed in a filing 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 Stock Down 3.8%
NASDAQ:NBIX opened at $154.84 on Wednesday. Neurocrine Biosciences, Inc. has a 12-month low of $122.14 and a 12-month high of $162.39. The firm has a market capitalization of $15.57 billion, a PE ratio of 23.86, a price-to-earnings-growth ratio of 1.21 and a beta of 0.40. The firm has a 50-day moving average price of $139.98 and a 200 day moving average price of $139.18.
Institutional Inflows and Outflows
A number of institutional investors have recently modified their holdings of NBIX. Royal Bank of Canada raised its stake in shares of Neurocrine Biosciences by 36.7% in the first quarter. Royal Bank of Canada now owns 82,810 shares of the company's stock valued at $9,158,000 after acquiring an additional 22,224 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Neurocrine Biosciences by 60.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,783 shares of the company's stock valued at $1,647,000 after acquiring an additional 5,577 shares during the last quarter. NewEdge Advisors LLC raised its stake in shares of Neurocrine Biosciences by 56.3% in the first quarter. NewEdge Advisors LLC now owns 7,630 shares of the company's stock valued at $844,000 after acquiring an additional 2,747 shares during the last quarter. Empowered Funds LLC bought a new position in shares of Neurocrine Biosciences in the first quarter valued at approximately $1,333,000. Finally, Geneos Wealth Management Inc. raised its stake in shares of Neurocrine Biosciences by 143.6% in the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company's stock valued at $25,000 after acquiring an additional 135 shares during the last quarter. Institutional investors own 92.59% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts recently issued reports on the stock. Canaccord Genuity Group increased 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 increased 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, May 29th. Citigroup increased their price target on shares of Neurocrine Biosciences from $242.00 to $246.00 and gave the stock a "buy" rating in a research report on Wednesday, May 6th. BMO Capital Markets dropped their price target on shares of Neurocrine Biosciences from $147.00 to $140.00 and set a "market perform" rating for the company in a research report on Thursday, February 12th. Finally, HC Wainwright increased their price target on shares of Neurocrine Biosciences from $192.00 to $215.00 and gave the stock a "buy" rating in a research report on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $187.52.
Get Our Latest Stock Report on NBIX
About Neurocrine Biosciences
(
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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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