Key Points
- Neurocrine Biosciences insider Ingrid Delaet sold 4,367 shares on July 10 at an average price of $181.02, totaling about $790,514. The sale reduced her ownership by 21.21% and was made under a pre-arranged Rule 10b5-1 plan.
- NBIX shares were down 1.7% and opened at $174.10, near their 52-week high of $181.18. The stock has a market cap of $17.51 billion and has traded well above its 200-day moving average.
- Wall Street sentiment remains positive, with several analysts raising price targets and the consensus rating at Moderate Buy. The average target price is $191.67, suggesting continued upside expectations.
Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Get Free Report) insider Ingrid Delaet sold 4,367 shares of the business's stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $181.02, for a total transaction of $790,514.34. Following the sale, the insider directly owned 16,225 shares of the company's stock, valued at approximately $2,937,049.50. The trade was a 21.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Ingrid Delaet also recently made the following trade(s):
- On Tuesday, July 7th, Ingrid Delaet sold 3,401 shares of Neurocrine Biosciences stock. The shares were sold at an average price of $178.57, for a total transaction of $607,316.57.
- On Wednesday, July 8th, Ingrid Delaet sold 2,737 shares of Neurocrine Biosciences stock. The shares were sold at an average price of $178.54, for a total transaction of $488,663.98.
- On Thursday, July 9th, Ingrid Delaet sold 8,433 shares of Neurocrine Biosciences stock. The shares were sold at an average price of $178.72, for a total value of $1,507,145.76.
- On Friday, May 29th, Ingrid Delaet sold 2,261 shares of Neurocrine Biosciences stock. The stock was sold at an average price of $156.71, for a total value of $354,321.31.
Neurocrine Biosciences Stock Down 1.7%
Shares of Neurocrine Biosciences stock opened at $174.10 on Tuesday. The company has a market cap of $17.51 billion, a PE ratio of 26.83, a price-to-earnings-growth ratio of 0.71 and a beta of 0.39. Neurocrine Biosciences, Inc. has a 52 week low of $122.14 and a 52 week high of $181.18. The business has a 50 day moving average price of $161.69 and a 200-day moving average price of $143.06.
Wall Street Analysts Forecast Growth
NBIX has been the subject of a number of analyst reports. Piper Sandler increased their price target on Neurocrine Biosciences from $190.00 to $207.00 and gave the company an "overweight" rating in a research report on Wednesday, May 6th. Truist Financial lifted their price objective on shares of Neurocrine Biosciences from $155.00 to $200.00 and gave the stock a "buy" rating in a report on Monday. JPMorgan Chase & Co. upped their target price on shares of Neurocrine Biosciences from $177.00 to $185.00 and gave the stock an "overweight" rating in a research note on Friday, May 8th. Zacks Research upgraded shares of Neurocrine Biosciences from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 23rd. Finally, Morgan Stanley raised their price target on shares of Neurocrine Biosciences from $185.00 to $191.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Neurocrine Biosciences has a consensus rating of "Moderate Buy" and an average target price of $191.67.
Read Our Latest Report on NBIX
Institutional Trading of Neurocrine Biosciences
A number of hedge funds have recently bought and sold shares of the business. USA Financial Formulas purchased a new position in Neurocrine Biosciences in the fourth quarter worth $25,000. Geneos Wealth Management Inc. increased its position in shares of Neurocrine Biosciences by 143.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company's stock valued at $25,000 after purchasing an additional 135 shares during the last quarter. DJE Kapital AG purchased a new stake in shares of Neurocrine Biosciences during the 4th quarter valued at $28,000. Basecamp Wealth Advisors LLC raised its stake in shares of Neurocrine Biosciences by 582.9% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company's stock worth $31,000 after purchasing an additional 204 shares during the period. Finally, Cassaday & Co Wealth Management LLC bought a new stake in shares of Neurocrine Biosciences during the 1st quarter worth $33,000. 92.59% of the stock is currently owned by institutional investors.
More Neurocrine Biosciences News
Here are the key news stories impacting Neurocrine Biosciences this week:
- Positive Sentiment: Truist Financial raised its price target on Neurocrine Biosciences to $200 from $155 and reiterated a buy rating, signaling confidence in further upside for the stock. Benzinga report on Truist price target increase
- Neutral Sentiment: BMO Capital Markets also lifted its price target on Neurocrine Biosciences to $170 from $144, but kept a market perform rating, suggesting a more cautious view despite the higher valuation estimate. Benzinga report on BMO price target increase
- Negative Sentiment: Two insiders sold shares in recent transactions, including Darin Lippoldt and Ingrid Delaet, which can create concern about management’s near-term outlook even though the sales were made under pre-arranged 10b5-1 plans. Article on Darin Lippoldt sale Article on Ingrid Delaet sale
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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