Ingrid Delaet Sells 2,737 Shares of Neurocrine Biosciences (NASDAQ:NBIX) Stock

Key Points

• Ingrid Delaet sold 2,737 shares of Neurocrine Biosciences on July 8 at an average price of $178.54, totaling about $488,664. The sale reduced her direct ownership by 14.43% and was made under a pre-arranged Rule 10b5-1 trading plan.
• Delaet has been actively trimming her stake, with additional sales reported on July 7, July 9, and May 29. Those transactions ranged from $354,321 to $1.51 million in value.
• NBIX shares were trading near their 12-month high at $180.55, while analysts remain broadly positive with an average “Moderate Buy” rating and a consensus target price of $188.10.

Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Get Free Report) insider Ingrid Delaet sold 2,737 shares of the business's stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $178.54, for a total transaction of $488,663.98. Following the completion of the transaction, the insider directly owned 16,225 shares in the company, valued at $2,896,811.50. This trade represents a 14.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 Thursday, July 9th, Ingrid Delaet sold 8,433 shares of Neurocrine Biosciences stock. The stock was sold at an average price of $178.72, for a total transaction 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 transaction of $354,321.31.

Neurocrine Biosciences Stock Performance

NBIX traded up $2.31 during midday trading on Thursday, reaching $180.55. The company had a trading volume of 1,178,602 shares, compared to its average volume of 1,182,578. The stock has a market cap of $18.15 billion, a PE ratio of 27.82, a P/E/G ratio of 0.71 and a beta of 0.39. Neurocrine Biosciences, Inc. has a 12-month low of $122.14 and a 12-month high of $181.00. The business has a 50-day moving average price of $158.87 and a two-hundred day moving average price of $142.41.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. NewEdge Advisors LLC boosted its position in shares of Neurocrine Biosciences by 0.5% during the 1st quarter. NewEdge Advisors LLC now owns 13,066 shares of the company's stock valued at $1,721,000 after acquiring an additional 68 shares during the last quarter. Huntington National Bank grew its holdings in shares of Neurocrine Biosciences by 12.6% during the fourth quarter. Huntington National Bank now owns 678 shares of the company's stock worth $96,000 after purchasing an additional 76 shares in the last quarter. Perigon Wealth Management LLC increased its position in shares of Neurocrine Biosciences by 3.1% in the fourth quarter. Perigon Wealth Management LLC now owns 2,590 shares of the company's stock worth $367,000 after purchasing an additional 78 shares during the last quarter. Motley Fool Asset Management LLC increased its position in shares of Neurocrine Biosciences by 4.8% in the fourth quarter. Motley Fool Asset Management LLC now owns 1,693 shares of the company's stock worth $240,000 after purchasing an additional 78 shares during the last quarter. Finally, Main Management ETF Advisors LLC raised its stake in Neurocrine Biosciences by 1.0% in the fourth quarter. Main Management ETF Advisors LLC now owns 7,830 shares of the company's stock valued at $1,111,000 after purchasing an additional 80 shares in the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Canaccord Genuity Group increased their price objective on Neurocrine Biosciences from $164.00 to $200.00 and gave the company a "buy" rating in a report on Tuesday, April 7th. Weiss Ratings upgraded Neurocrine Biosciences from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, June 24th. Zacks Research raised Neurocrine Biosciences from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 23rd. The Goldman Sachs Group assumed coverage on shares of Neurocrine Biosciences in a research note on Tuesday, June 2nd. They issued a "buy" rating and a $213.00 target price for the company. Finally, Wall Street Zen raised shares of Neurocrine Biosciences from a "buy" rating to a "strong-buy" rating in a research report on Saturday, April 25th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $188.10.

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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