Key Points
- Neurocrine Biosciences director Stephen Sherwin sold 25,000 shares on June 5 at an average price of $165.32, totaling about $4.13 million. The sale reduced his holdings by 61.18% and was made under a pre-arranged Rule 10b5-1 trading plan.
- The stock was trading higher, opening at $165.24 and up 1.3% in the session mentioned. NBIX has traded between a 12-month low of $122.14 and high of $169.57.
- Analysts remain upbeat on NBIX, with several firms raising price targets and the consensus rating at “Moderate Buy.” The average price target is $187.52, while institutional ownership remains high at 92.59%.
Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Get Free Report) Director Stephen Sherwin sold 25,000 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $165.32, for a total value of $4,133,000.00. Following the transaction, the director directly owned 15,860 shares of the company's stock, valued at approximately $2,621,975.20. The trade was a 61.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Neurocrine Biosciences Trading Up 1.3%
Shares of Neurocrine Biosciences stock opened at $165.24 on Wednesday. The stock has a 50 day moving average of $144.09 and a 200 day moving average of $140.05. Neurocrine Biosciences, Inc. has a 12 month low of $122.14 and a 12 month high of $169.57. The firm has a market cap of $16.61 billion, a PE ratio of 25.46, a PEG ratio of 1.22 and a beta of 0.40.
Institutional Investors Weigh In On Neurocrine Biosciences
Several institutional investors have recently modified their holdings of NBIX. JPMorgan Chase & Co. raised its holdings in shares of Neurocrine Biosciences by 11.0% in the third quarter. JPMorgan Chase & Co. now owns 4,730,152 shares of the company's stock worth $664,019,000 after buying an additional 468,405 shares during the period. AQR Capital Management LLC raised its holdings in shares of Neurocrine Biosciences by 18.0% in the fourth quarter. AQR Capital Management LLC now owns 3,271,706 shares of the company's stock worth $462,652,000 after buying an additional 498,058 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Neurocrine Biosciences by 8.0% in the first quarter. Renaissance Technologies LLC now owns 2,418,897 shares of the company's stock worth $318,665,000 after buying an additional 180,100 shares during the period. Geode Capital Management LLC raised its holdings in shares of Neurocrine Biosciences by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 2,059,282 shares of the company's stock worth $291,342,000 after buying an additional 34,457 shares during the period. Finally, Los Angeles Capital Management LLC raised its holdings in shares of 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 worth $178,248,000 after buying an additional 88,522 shares during the period. 92.59% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on NBIX shares. Canaccord Genuity Group increased their price target on Neurocrine Biosciences from $164.00 to $200.00 and gave the company a "buy" rating in a research note on Tuesday, April 7th. Needham & Company LLC reaffirmed a "buy" rating and issued a $185.00 price objective on shares of Neurocrine Biosciences in a research note on Monday, April 6th. Piper Sandler raised their price objective on Neurocrine Biosciences from $190.00 to $207.00 and gave the company an "overweight" rating in a research note on Wednesday, May 6th. Royal Bank Of Canada raised their price objective on Neurocrine Biosciences from $180.00 to $183.00 and gave the company an "outperform" rating in a research note on Friday, May 29th. Finally, The Goldman Sachs Group began coverage on Neurocrine Biosciences in a research note on Tuesday, June 2nd. They issued a "buy" rating and a $213.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $187.52.
View Our Latest Stock Report on NBIX
Neurocrine Biosciences Company Profile
(
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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