Key Points
- Insider sale: Neurocrine Biosciences insider Darin Lippoldt sold 9,800 shares on June 29 at an average price of $170.16, for a total of about $1.67 million.
- Position change: After the sale, Lippoldt still held 54,729 shares, and the transaction reduced his stake by 15.19%. The trade was made under a pre-arranged Rule 10b5-1 plan.
- Stock and analyst backdrop: NBIX recently traded near its 1-year high at $168.54, while analysts remain mostly bullish with a consensus rating of Moderate Buy and an average price target of $187.52.
Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Get Free Report) insider Darin Lippoldt sold 200 shares of the stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $169.56, for a total transaction of $33,912.00. Following the transaction, the insider owned 54,729 shares in the company, valued at $9,279,849.24. The trade was a 0.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Darin Lippoldt also recently made the following trade(s):
- On Monday, June 29th, Darin Lippoldt sold 9,800 shares of Neurocrine Biosciences stock. The stock was sold at an average price of $170.16, for a total transaction of $1,667,568.00.
Neurocrine Biosciences Stock Performance
Shares of Neurocrine Biosciences stock opened at $168.54 on Wednesday. Neurocrine Biosciences, Inc. has a 52-week low of $122.14 and a 52-week high of $171.50. The stock has a market capitalization of $16.95 billion, a price-to-earnings ratio of 25.97, a price-to-earnings-growth ratio of 0.68 and a beta of 0.40. The company has a fifty day moving average of $153.53 and a 200-day moving average of $141.34.
Analyst Ratings Changes
Several research firms have issued reports on NBIX. Truist Financial upped their price target on shares of Neurocrine Biosciences from $140.00 to $155.00 and gave the company a "buy" rating in a research report on Thursday, May 7th. Leerink Partners lifted their price objective on Neurocrine Biosciences from $160.00 to $170.00 and gave the stock an "outperform" rating in a report on Wednesday, April 22nd. Weiss Ratings raised Neurocrine Biosciences from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, June 24th. HC Wainwright increased their target price on Neurocrine Biosciences from $192.00 to $215.00 and gave the company a "buy" rating in a report on Tuesday, April 7th. Finally, Needham & Company LLC restated a "buy" rating and set a $185.00 price target on shares of Neurocrine Biosciences in a research report on Monday, April 6th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Neurocrine Biosciences has an average rating of "Moderate Buy" and a consensus target price of $187.52.
Get Our Latest Stock Analysis on Neurocrine Biosciences
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of NBIX. AQR Capital Management LLC grew its position in shares of Neurocrine Biosciences by 83.7% in the 3rd quarter. AQR Capital Management LLC now owns 2,773,648 shares of the company's stock worth $388,435,000 after buying an additional 1,263,633 shares during the last quarter. Norges Bank purchased a new position in Neurocrine Biosciences during the 4th quarter valued at $162,664,000. UBS Group AG increased its position in Neurocrine Biosciences by 169.8% during the 4th quarter. UBS Group AG now owns 983,528 shares of the company's stock valued at $139,494,000 after purchasing an additional 618,956 shares during the period. First Trust Advisors LP raised its holdings in Neurocrine Biosciences by 97.0% in the 1st quarter. First Trust Advisors LP now owns 959,217 shares of the company's stock worth $126,367,000 after purchasing an additional 472,408 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI purchased a new stake in shares of Neurocrine Biosciences in the 4th quarter worth about $65,162,000. Institutional investors 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.
Further Reading
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