Key Points
- Neurocrine Biosciences insider Julie Cooke sold 36,937 shares on June 2 at an average price of $156.22, totaling about $5.77 million. The sale reduced her ownership by 62.28% and was made under a pre-arranged Rule 10b5-1 plan.
- Analysts remain broadly positive on NBIX, with recent firms including Citigroup, Wells Fargo, Leerink Partners, RBC, and Goldman Sachs issuing or maintaining bullish views. MarketBeat shows a consensus rating of Moderate Buy with an average price target of $187.52.
- The stock has been trading near its 52-week high, opening at $167.35 versus a 52-week range of $122.14 to $169.57. Neurocrine also has a market cap of about $16.83 billion and is primarily known for its lead drug Ingrezza, used to treat tardive dyskinesia.
Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Get Free Report) insider Julie Cooke sold 36,937 shares of the firm's stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $156.22, for a total transaction of $5,770,298.14. Following the completion of the sale, the insider owned 22,374 shares in the company, valued at $3,495,266.28. This represents a 62.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Neurocrine Biosciences Stock Performance
NASDAQ:NBIX opened at $167.35 on Friday. Neurocrine Biosciences, Inc. has a fifty-two week low of $122.14 and a fifty-two week high of $169.57. The stock has a market capitalization of $16.83 billion, a P/E ratio of 25.79, a P/E/G ratio of 1.24 and a beta of 0.40. The company's 50-day simple moving average is $142.08 and its 200-day simple moving average is $139.54.
Analyst Ratings Changes
A number of research firms have recently weighed in on NBIX. Citigroup raised their price target on shares of Neurocrine Biosciences from $242.00 to $246.00 and gave the company a "buy" rating in a report on Wednesday, May 6th. Wells Fargo & Company lowered their price target on shares of Neurocrine Biosciences from $180.00 to $175.00 and set an "overweight" rating on the stock in a report on Friday, February 13th. Leerink Partners raised their price target on shares of Neurocrine Biosciences from $160.00 to $170.00 and gave the company an "outperform" rating in a report on Wednesday, April 22nd. Royal Bank Of Canada raised their price target on shares of Neurocrine Biosciences from $180.00 to $183.00 and gave the company an "outperform" rating in a report on Friday, May 29th. Finally, The Goldman Sachs Group began coverage on shares of Neurocrine Biosciences in a report on Tuesday. They issued a "buy" rating and a $213.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $187.52.
Read Our Latest Stock Report on Neurocrine Biosciences
Institutional Trading of Neurocrine Biosciences
Institutional investors have recently bought and sold shares of the stock. USA Financial Formulas acquired a new stake in Neurocrine Biosciences in the 4th quarter worth approximately $25,000. Geneos Wealth Management Inc. boosted its stake in Neurocrine Biosciences by 143.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company's stock worth $25,000 after purchasing an additional 135 shares in the last quarter. DJE Kapital AG acquired a new stake in Neurocrine Biosciences in the 4th quarter worth approximately $28,000. Cassaday & Co Wealth Management LLC acquired a new stake in Neurocrine Biosciences in the 1st quarter worth approximately $33,000. Finally, Meeder Asset Management Inc. boosted its stake in Neurocrine Biosciences by 651.6% in the 4th quarter. Meeder Asset Management Inc. now owns 233 shares of the company's stock worth $33,000 after purchasing an additional 202 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
