Ingrid Delaet Sells 3,401 Shares of Neurocrine Biosciences (NASDAQ:NBIX) Stock

Key Points

• Ingrid Delaet sold 3,401 shares of Neurocrine Biosciences on July 7 at an average price of $178.57, totaling about $607,317. The sale reduced her stake by 17.33% and was made under a pre-arranged Rule 10b5-1 trading plan.
• Delaet has also made several additional sales this week, including 2,737 shares on July 8 and 8,433 shares on July 9, adding to the recent insider selling activity in NBIX.
• NBIX shares were near their 52-week high, trading around $180.55, while analysts remain generally positive with a consensus rating of “Moderate Buy” and an average price target of $188.10.

Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Get Free Report) insider Ingrid Delaet sold 3,401 shares of the business's stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $178.57, for a total value of $607,316.57. Following the completion of the sale, the insider owned 16,225 shares in the company, valued at $2,897,298.25. This represents a 17.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 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 value of $488,663.98.
• 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 Price Performance

Shares of NBIX stock traded up $2.31 during trading on Thursday, reaching $180.55. The company's stock had a trading volume of 1,178,602 shares, compared to its average volume of 1,182,578. Neurocrine Biosciences, Inc. has a 1-year low of $122.14 and a 1-year high of $181.00. The stock's 50-day moving average price is $158.87 and its 200 day moving average price is $142.41. The company has a market capitalization of $18.15 billion, a price-to-earnings ratio of 27.82, a P/E/G ratio of 0.71 and a beta of 0.39.

Analyst Ratings Changes

A number of research firms have recently weighed in on NBIX. Needham & Company LLC reaffirmed a "buy" rating and set a $185.00 price objective on shares of Neurocrine Biosciences in a research report on Monday, April 6th. Wall Street Zen raised Neurocrine Biosciences from a "buy" rating to a "strong-buy" rating in a research note on Saturday, April 25th. Zacks Research upgraded Neurocrine Biosciences from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 23rd. Sanford C. Bernstein initiated coverage on Neurocrine Biosciences in a report on Friday, May 22nd. They set an "outperform" rating and a $221.00 price target on the stock. Finally, Morgan Stanley increased their price target on 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 investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, Neurocrine Biosciences has a consensus rating of "Moderate Buy" and an average target price of $188.10.

Institutional Investors Weigh In On Neurocrine Biosciences

A number of hedge funds and other institutional investors have recently modified their holdings of NBIX. NewEdge Advisors LLC grew its holdings in shares of Neurocrine Biosciences by 0.5% in the 1st quarter. NewEdge Advisors LLC now owns 13,066 shares of the company's stock worth $1,721,000 after acquiring an additional 68 shares during the last quarter. Huntington National Bank lifted 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 valued at $96,000 after purchasing an additional 76 shares during the last quarter. Perigon Wealth Management LLC boosted its position in shares of Neurocrine Biosciences by 3.1% in the 4th quarter. Perigon Wealth Management LLC now owns 2,590 shares of the company's stock valued at $367,000 after purchasing an additional 78 shares during the period. Motley Fool Asset Management LLC boosted its position in shares of Neurocrine Biosciences by 4.8% in the 4th quarter. Motley Fool Asset Management LLC now owns 1,693 shares of the company's stock valued at $240,000 after purchasing an additional 78 shares during the period. Finally, Main Management ETF Advisors LLC increased its stake in Neurocrine Biosciences by 1.0% in the 4th quarter. Main Management ETF Advisors LLC now owns 7,830 shares of the company's stock worth $1,111,000 after purchasing an additional 80 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

About Neurocrine Biosciences

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.