Key Points
- Neurocrine CFO Matt Abernethy sold 2,311 shares at an average price of $157.20, generating $363,289.20. The Rule 10b5-1 sale covered tax withholding obligations tied to vested equity awards and reduced his holdings by 5.12%.
- Neurocrine shares opened at $150.02, down 4.6%, while the company reported quarterly earnings of $2.85 per share and revenue of $959 million—beating analyst expectations and marking 39.5% year-over-year revenue growth.
- Wall Street maintains a “Moderate Buy” consensus, with an average price target of $201.09; 20 analysts rate the stock Strong Buy or Buy, compared with four Hold ratings.
Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Get Free Report) insider David Boyer sold 826 shares of the stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $157.45, for a total value of $130,053.70. Following the completion of the sale, the insider directly owned 8,722 shares of the company's stock, valued at approximately $1,373,278.90. This represents a 8.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Neurocrine Biosciences Stock Performance
NASDAQ NBIX opened at $150.02 on Wednesday. The stock's fifty day moving average is $163.57 and its two-hundred day moving average is $151.73. The firm has a market capitalization of $15.25 billion, a P/E ratio of 22.00, a price-to-earnings-growth ratio of 0.73 and a beta of 0.38. Neurocrine Biosciences, Inc. has a fifty-two week low of $122.14 and a fifty-two week high of $186.12.
Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its earnings results on Friday, July 31st. The company reported $2.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $1.20. Neurocrine Biosciences had a return on equity of 22.43% and a net margin of 20.91%.The company had revenue of $959.00 million during the quarter, compared to analysts' expectations of $891.16 million. During the same period in the prior year, the business earned $1.65 EPS. The firm's quarterly revenue was up 39.5% on a year-over-year basis. As a group, sell-side analysts forecast that Neurocrine Biosciences, Inc. will post 7.25 EPS for the current year.
Analyst Ratings Changes
Several equities research analysts recently issued reports on NBIX shares. Weiss Ratings cut shares of Neurocrine Biosciences from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, September 8th. BMO Capital Markets increased their price target on shares of Neurocrine Biosciences from $144.00 to $170.00 and gave the company a "market perform" rating in a research note on Monday, July 13th. Guggenheim raised their price target on shares of Neurocrine Biosciences from $200.00 to $222.00 and gave the stock a "buy" rating in a report on Friday, July 31st. Citigroup lifted their price target on shares of Neurocrine Biosciences from $249.00 to $253.00 and gave the company a "buy" rating in a research report on Thursday, September 3rd. Finally, Canaccord Genuity Group upped their price objective on Neurocrine Biosciences from $200.00 to $210.00 and gave the company a "buy" rating in a report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $201.09.
View Our Latest Report on NBIX
Hedge Funds Weigh In On Neurocrine Biosciences
Several hedge funds have recently bought and sold shares of NBIX. DJE Kapital AG acquired a new stake in Neurocrine Biosciences in the fourth quarter valued at approximately $28,000. Basecamp Wealth Advisors LLC increased its holdings in Neurocrine Biosciences by 582.9% in the first quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company's stock valued at $31,000 after buying an additional 204 shares during the last quarter. Cassaday & Co Wealth Management LLC purchased a new position in Neurocrine Biosciences in the first quarter valued at $33,000. TrinityBridge Ltd acquired a new stake in Neurocrine Biosciences in the second quarter valued at $45,000. Finally, Transamerica Financial Advisors LLC acquired a new stake in Neurocrine Biosciences in the second quarter valued at $48,000. Institutional investors and hedge funds own 92.59% of the company's stock.
About Neurocrine Biosciences
(
Get Free Report)
Neurocrine Biosciences, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for neurological, neuroendocrine and psychiatric disorders. The company develops therapies for conditions with significant unmet medical needs, using expertise in neuroscience and endocrine biology.
Its primary commercial product is INGREZZA (valbenazine), a vesicular monoamine transporter 2 inhibitor approved in the United States for the treatment of tardive dyskinesia and chorea associated with Huntington's disease.
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