Insider Selling: Neurocrine Biosciences (NASDAQ:NBIX) Insider Sells 826 Shares of Stock

Key Points

• Insider sale: Neurocrine Biosciences insider David Boyer sold 826 shares for approximately $130,054 under a pre-arranged Rule 10b5-1 plan to cover tax withholding on vested equity awards. His remaining stake fell 8.65% to 8,722 shares.
• Strong financial performance: The company reported quarterly revenue of $959 million, up 39.5% year over year, and adjusted earnings of $2.85 per share, exceeding analysts’ $1.65 estimate.
• Investor outlook remains positive: Institutional investors own 92.59% of the stock, while analysts maintain a consensus “Moderate Buy” rating with an average price target of $201.09, above the reported trading price of $150.02.

Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Get Free Report) insider David Boyer sold 826 shares of the stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $157.45, for a total transaction of $130,053.70. Following the transaction, the insider directly owned 8,722 shares of the company's stock, valued at $1,373,278.90. This trade represents a 8.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 Price Performance

Shares of NBIX stock traded down $7.20 during trading hours on Tuesday, hitting $150.02. The stock had a trading volume of 1,332,090 shares, compared to its average volume of 1,192,526. Neurocrine Biosciences, Inc. has a one year low of $122.14 and a one year high of $186.12. The stock's 50-day moving average price is $164.12 and its two-hundred day moving average price is $151.60. The stock has a market capitalization of $15.25 billion, a price-to-earnings ratio of 22.00, a PEG ratio of 0.73 and a beta of 0.38.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last posted its earnings results on Friday, July 31st. The company reported $2.85 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $891.16 million. During the same period in the previous year, the business earned $1.65 earnings per share. The firm's revenue for the quarter was up 39.5% on a year-over-year basis. As a group, equities research analysts predict that Neurocrine Biosciences, Inc. will post 7.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. purchased a new position in Neurocrine Biosciences during the 2nd quarter valued at $2,310,886,000. Renaissance Technologies LLC grew its position in Neurocrine Biosciences by 8.0% in the 1st quarter. Renaissance Technologies LLC now owns 2,418,897 shares of the company's stock valued at $318,665,000 after acquiring an additional 180,100 shares during the last quarter. Geode Capital Management LLC increased its stake in 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 period. Los Angeles Capital Management LLC increased its stake in Neurocrine Biosciences by 7.4% in the fourth quarter. Los Angeles Capital Management LLC now owns 1,291,278 shares of the company's stock worth $178,248,000 after purchasing an additional 88,522 shares during the period. Finally, Norges Bank bought a new stake in shares of Neurocrine Biosciences during the fourth quarter worth $162,664,000. Institutional investors own 92.59% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. BMO Capital Markets increased their target price on Neurocrine Biosciences from $144.00 to $170.00 and gave the company a "market perform" rating in a research report on Monday, July 13th. Royal Bank Of Canada restated an "outperform" rating and issued a $198.00 price target on shares of Neurocrine Biosciences in a research report on Tuesday, September 8th. Wedbush upped their price target on shares of Neurocrine Biosciences from $185.00 to $194.00 and gave the company an "outperform" rating in a research note on Monday, August 3rd. Wells Fargo & Company increased their price objective on shares of Neurocrine Biosciences from $175.00 to $200.00 and gave the company an "overweight" rating in a research report on Friday, July 17th. Finally, Weiss Ratings cut shares of Neurocrine Biosciences from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, September 8th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $201.09.

Neurocrine Biosciences Company Profile

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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