Darin Lippoldt Sells 10,000 Shares of Neurocrine Biosciences (NASDAQ:NBIX) Stock

Key Points

• Neurocrine insider Darin Lippoldt sold 10,000 shares on July 9 at an average price of $179.60, totaling about $1.8 million. The sale reduced his ownership by 15.45% and was made under a pre-arranged Rule 10b5-1 trading plan.
• Lippoldt has also sold shares recently, including 9,800 shares on June 29 and 200 shares on June 26, indicating a pattern of insider selling over the past few weeks.
• NBIX shares were trading near recent highs at $173.99, with the stock up against a one-year range of $122.14 to $181.18. Analysts remain broadly positive, with a consensus rating of Moderate Buy and an average target price of $191.67.

Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Get Free Report) insider Darin Lippoldt sold 10,000 shares of the company's stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $179.60, for a total value of $1,796,000.00. Following the completion of the transaction, the insider owned 54,729 shares of the company's stock, valued at $9,829,328.40. The trade was a 15.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 shares were sold at an average price of $170.16, for a total value of $1,667,568.00.
• On Friday, June 26th, Darin Lippoldt sold 200 shares of Neurocrine Biosciences stock. The shares were sold at an average price of $169.56, for a total value of $33,912.00.

Neurocrine Biosciences Stock Performance

NASDAQ:NBIX traded down $3.12 during mid-day trading on Monday, reaching $173.99. The stock had a trading volume of 1,573,039 shares, compared to its average volume of 1,184,527. The stock has a market capitalization of $17.49 billion, a P/E ratio of 26.81, a P/E/G ratio of 0.71 and a beta of 0.39. The firm has a 50 day moving average price of $160.84 and a two-hundred day moving average price of $142.87. Neurocrine Biosciences, Inc. has a one year low of $122.14 and a one year high of $181.18.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on NBIX shares. Citigroup upped their price objective on shares of Neurocrine Biosciences from $242.00 to $246.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. Sanford C. Bernstein assumed coverage on shares of Neurocrine Biosciences in a research note on Friday, May 22nd. They issued an "outperform" rating and a $221.00 price target for the company. Wedbush upped their price target on shares of Neurocrine Biosciences from $166.00 to $176.00 and gave the company an "outperform" rating in a research report on Wednesday, May 6th. Weiss Ratings cut Neurocrine Biosciences from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday. Finally, Wall Street Zen upgraded Neurocrine Biosciences from a "buy" rating to a "strong-buy" rating in a report on Saturday, April 25th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $191.67.

Institutional Investors Weigh In On Neurocrine Biosciences

Institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC increased its position 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 valued at $462,652,000 after acquiring an additional 498,058 shares during the period. Renaissance Technologies LLC grew its stake 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 purchasing an additional 180,100 shares during the last quarter. Geode Capital Management LLC grew its stake 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 purchasing an additional 34,457 shares during the last quarter. Los Angeles Capital Management LLC increased its holdings in Neurocrine Biosciences by 7.4% during the 4th quarter. Los Angeles Capital Management LLC now owns 1,291,278 shares of the company's stock valued at $178,248,000 after purchasing an additional 88,522 shares during the period. Finally, Northern Trust Corp increased its holdings in Neurocrine Biosciences by 31.9% during the 4th quarter. Northern Trust Corp now owns 1,221,184 shares of the company's stock valued at $173,201,000 after purchasing an additional 295,470 shares during the period. Hedge funds and other institutional investors own 92.59% of the company's stock.

Neurocrine Biosciences Company Profile

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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