Key Points
- Director Leslie Norwalk sold 1,250 Neurocrine Biosciences shares at an average price of $182.01, generating $227,512.50. The transaction reduced her position by 44.05% and was conducted under a pre-arranged Rule 10b5-1 trading plan.
- Neurocrine shares rose 2.6% and opened at $185.50, near their 52-week high of $186.12. Institutional investors and hedge funds own 92.59% of the company.
- Analysts maintain a favorable outlook, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $194.05; recent targets range as high as $221.
Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Get Free Report) Director Leslie Norwalk sold 1,250 shares of the business's stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $182.01, for a total transaction of $227,512.50. Following the completion of the transaction, the director owned 1,588 shares in the company, valued at approximately $289,031.88. The trade was a 44.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Neurocrine Biosciences Trading Up 2.6%
Shares of Neurocrine Biosciences stock opened at $185.50 on Friday. The business has a 50-day moving average price of $167.61 and a two-hundred day moving average price of $146.25. Neurocrine Biosciences, Inc. has a 1-year low of $122.14 and a 1-year high of $186.12. The company has a market cap of $18.65 billion, a P/E ratio of 28.58, a PEG ratio of 0.76 and a beta of 0.39.
Institutional Investors Weigh In On Neurocrine Biosciences
A number of institutional investors and hedge funds have recently made changes to their positions in NBIX. Geneos Wealth Management Inc. lifted its position in Neurocrine Biosciences by 143.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company's stock valued at $25,000 after acquiring an additional 135 shares in the last quarter. DJE Kapital AG bought a new stake in Neurocrine Biosciences during the 4th quarter worth approximately $28,000. Basecamp Wealth Advisors LLC raised its stake in shares of Neurocrine Biosciences by 582.9% in the first 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 last quarter. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Neurocrine Biosciences in the first quarter worth approximately $33,000. Finally, Meeder Asset Management Inc. lifted its holdings in shares of Neurocrine Biosciences by 651.6% in the fourth quarter. Meeder Asset Management Inc. now owns 233 shares of the company's stock valued at $33,000 after purchasing an additional 202 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company's stock.
Analysts Set New Price Targets
Several equities analysts have issued reports on the company. Royal Bank Of Canada boosted their price target on Neurocrine Biosciences from $183.00 to $195.00 and gave the company an "outperform" rating in a research note on Tuesday, July 7th. The Goldman Sachs Group initiated coverage on shares of Neurocrine Biosciences in a research note on Tuesday, June 2nd. They issued a "buy" rating and a $213.00 price objective for the company. Truist Financial boosted their target price on shares of Neurocrine Biosciences from $155.00 to $200.00 and gave the company a "buy" rating in a research report on Monday, July 13th. Sanford C. Bernstein started coverage on shares of Neurocrine Biosciences in a report on Friday, May 22nd. They issued an "outperform" rating and a $221.00 price target for the company. Finally, Wells Fargo & Company upped their price objective on shares of Neurocrine Biosciences from $175.00 to $200.00 and gave the company an "overweight" rating in a report on Friday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Neurocrine Biosciences presently has an average rating of "Moderate Buy" and a consensus target price of $194.05.
View Our Latest Research Report on NBIX
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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