Insider Selling: Neurocrine Biosciences (NASDAQ:NBIX) Insider Sells $1,507,145.76 in Stock

Key Points

• Neurocrine Biosciences insider Ingrid Delaet sold 8,433 shares on July 9 at an average price of $178.72, generating about $1.51 million in proceeds. The sale reduced her ownership by 34.2% and was made under a pre-arranged Rule 10b5-1 trading plan.
• Delaet also sold additional Neurocrine shares earlier in the same week, including 3,401 shares on July 7 and 2,737 shares on July 8, adding to the recent insider selling activity.
• NBIX stock was trading near its 52-week high at $180.55, and Wall Street sentiment remains positive with a Moderate Buy consensus rating and a $188.10 average price target.

Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Get Free Report) insider Ingrid Delaet sold 8,433 shares of the business's stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $178.72, for a total value of $1,507,145.76. Following the completion of the sale, the insider owned 16,225 shares in the company, valued at approximately $2,899,732. This trade represents a 34.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 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 value of $607,316.57.
• 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 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 value of $354,321.31.

Neurocrine Biosciences Price Performance

Shares of NBIX traded up $2.31 during mid-day trading on Thursday, hitting $180.55. 1,178,602 shares of the company's stock were exchanged, compared to its average volume of 1,182,578. The company 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 52 week low of $122.14 and a 52 week high of $181.00. The company has a 50-day simple moving average of $158.87 and a 200 day simple moving average of $142.41.

Institutional Investors Weigh In On Neurocrine Biosciences

A number of large investors have recently added to or reduced their stakes in the business. USA Financial Formulas bought a new position in Neurocrine Biosciences during the fourth quarter worth $25,000. DJE Kapital AG bought a new position in shares of Neurocrine Biosciences in the fourth quarter valued at about $28,000. Geneos Wealth Management Inc. lifted its stake in shares of Neurocrine Biosciences by 143.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 229 shares of the company's stock worth $25,000 after buying an additional 135 shares during the last quarter. Meeder Asset Management Inc. boosted its holdings in shares of Neurocrine Biosciences by 651.6% during the 4th quarter. Meeder Asset Management Inc. now owns 233 shares of the company's stock worth $33,000 after buying an additional 202 shares during the period. Finally, Basecamp Wealth Advisors LLC boosted its holdings in shares of Neurocrine Biosciences by 582.9% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company's stock worth $31,000 after buying an additional 204 shares during the period. Institutional investors own 92.59% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NBIX. Weiss Ratings upgraded Neurocrine Biosciences from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, June 24th. Wedbush boosted their price target on Neurocrine Biosciences from $166.00 to $176.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 6th. Morgan Stanley upped their price objective on Neurocrine Biosciences from $185.00 to $191.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 6th. The Goldman Sachs Group initiated 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, Royal Bank Of Canada upped their price target on shares of Neurocrine Biosciences from $183.00 to $195.00 and gave the stock an "outperform" rating in a research report on Tuesday. Two equities 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's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus 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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