Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Director Sells $13,440,164.02 in Stock

Key Points

• Kevin Charles Gorman, a director at Neurocrine Biosciences, sold 106,322 shares at an average price of $126.41, totaling over $13.4 million, reducing his ownership by 17.12%.
• Neurocrine Biosciences reported $1.06 EPS for the last quarter, exceeding estimates, with revenue of $687.5 million, up 16.5% year-over-year.
• Shares of Neurocrine Biosciences are currently rated as a Moderate Buy by analysts, with an average price target of $160.90.

Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Get Free Report) Director Kevin Charles Gorman sold 106,322 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $126.41, for a total value of $13,440,164.02. Following the completion of the transaction, the director directly owned 514,596 shares of the company's stock, valued at $65,050,080.36. This represents a 17.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Kevin Charles Gorman also recently made the following trade(s):

• On Tuesday, May 27th, Kevin Charles Gorman sold 9,613 shares of Neurocrine Biosciences stock. The stock was sold at an average price of $120.38, for a total value of $1,157,212.94.

Neurocrine Biosciences Stock Performance

Shares of NBIX stock traded up $2.46 on Wednesday, reaching $131.35. The stock had a trading volume of 529,650 shares, compared to its average volume of 1,282,580. The stock has a market cap of $13.03 billion, a P/E ratio of 38.83, a price-to-earnings-growth ratio of 0.89 and a beta of 0.25. Neurocrine Biosciences, Inc. has a 1 year low of $84.23 and a 1 year high of $154.87. The company has a 50 day simple moving average of $128.79 and a 200 day simple moving average of $119.99.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $1.06 EPS for the quarter, topping analysts' consensus estimates of $0.98 by $0.08. Neurocrine Biosciences had a return on equity of 13.22% and a net margin of 13.88%. The company had revenue of $687.50 million for the quarter, compared to analysts' expectations of $653.09 million. During the same period last year, the firm earned $1.63 EPS. Neurocrine Biosciences's revenue for the quarter was up 16.5% compared to the same quarter last year. On average, equities research analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Neurocrine Biosciences

A number of institutional investors have recently bought and sold shares of NBIX. LPL Financial LLC raised its holdings in Neurocrine Biosciences by 27.8% in the 4th quarter. LPL Financial LLC now owns 16,754 shares of the company's stock worth $2,287,000 after purchasing an additional 3,643 shares during the period. Cerity Partners LLC raised its holdings in Neurocrine Biosciences by 7.0% in the 4th quarter. Cerity Partners LLC now owns 41,737 shares of the company's stock worth $5,290,000 after purchasing an additional 2,713 shares during the period. Invesco Ltd. raised its holdings in Neurocrine Biosciences by 8.6% in the 4th quarter. Invesco Ltd. now owns 949,512 shares of the company's stock worth $129,608,000 after purchasing an additional 74,847 shares during the period. FIL Ltd raised its holdings in Neurocrine Biosciences by 20.5% in the 4th quarter. FIL Ltd now owns 14,417 shares of the company's stock worth $1,968,000 after purchasing an additional 2,452 shares during the period. Finally, Kennedy Capital Management LLC raised its holdings in Neurocrine Biosciences by 16.4% in the 4th quarter. Kennedy Capital Management LLC now owns 36,112 shares of the company's stock worth $4,929,000 after purchasing an additional 5,093 shares during the period. 92.59% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on NBIX shares. Guggenheim upped their price target on Neurocrine Biosciences from $165.00 to $175.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. JPMorgan Chase & Co. upped their price target on Neurocrine Biosciences from $140.00 to $145.00 and gave the stock a "neutral" rating in a research note on Thursday, July 31st. The Goldman Sachs Group started coverage on Neurocrine Biosciences in a research note on Thursday, July 10th. They issued a "buy" rating and a $182.00 price target on the stock. Canaccord Genuity Group upped their price target on Neurocrine Biosciences from $158.00 to $160.00 and gave the stock a "buy" rating in a research note on Tuesday, May 6th. Finally, Wall Street Zen upgraded Neurocrine Biosciences from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 2nd. Three equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Neurocrine Biosciences presently has an average rating of "Moderate Buy" and an average price target of $160.90.

About Neurocrine Biosciences

Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, neuroendocrine, and neuropsychiatric disorders in the United States and internationally. The company's products include INGREZZA for tardive dyskinesia and chorea associated with Huntington's disease; ALKINDI for adrenal insufficiency; Efmody capsules for classic congenital adrenal hyperplasia; Orilissa tablets for endometriosis; and Oriahnn capsules to treat uterine fibroids.