Insider Selling: Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Director Sells 106,322 Shares of 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 Neurocrine Biosciences stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $126.41, for a total value of $13,440,164.02. Following the transaction, the director directly owned 514,596 shares in the company, valued at approximately $65,050,080.36. This trade represents a 17.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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 Trading Up 0.2%

Shares of NBIX traded up $0.24 during trading hours on Friday, hitting $131.55. 36,041 shares of the stock traded hands, compared to its average volume of 1,274,717. Neurocrine Biosciences, Inc. has a 1-year low of $84.23 and a 1-year high of $154.87. The firm has a market capitalization of $13.05 billion, a PE ratio of 38.84, a price-to-earnings-growth ratio of 0.95 and a beta of 0.25. The business has a fifty day moving average of $129.06 and a 200-day moving average of $119.95.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share (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 firm had revenue of $687.50 million for the quarter, compared to analysts' expectations of $653.09 million. During the same quarter last year, the business earned $1.63 earnings per share. The company's revenue was up 16.5% compared to the same quarter last year. As a group, equities research analysts expect 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 hedge funds and other institutional investors have recently added to or reduced their stakes in NBIX. Dodge & Cox boosted its holdings in Neurocrine Biosciences by 83.5% during the first quarter. Dodge & Cox now owns 5,534,624 shares of the company's stock worth $612,129,000 after buying an additional 2,518,199 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Neurocrine Biosciences by 59.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,261,747 shares of the company's stock valued at $535,659,000 after purchasing an additional 1,590,749 shares in the last quarter. Norges Bank bought a new position in shares of Neurocrine Biosciences during the 2nd quarter valued at about $122,278,000. Los Angeles Capital Management LLC lifted its holdings in shares of Neurocrine Biosciences by 19,454.9% during the 2nd quarter. Los Angeles Capital Management LLC now owns 744,650 shares of the company's stock valued at $93,595,000 after purchasing an additional 740,842 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Neurocrine Biosciences by 44.0% during the 1st quarter. Wellington Management Group LLP now owns 2,097,981 shares of the company's stock valued at $232,037,000 after purchasing an additional 640,556 shares in the last quarter. Institutional investors own 92.59% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Piper Sandler boosted their target price on shares of Neurocrine Biosciences from $154.00 to $175.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Needham & Company LLC upped their price target on Neurocrine Biosciences from $138.00 to $139.00 and gave the stock a "buy" rating in a report on Tuesday, May 6th. Guggenheim upped their price target on Neurocrine Biosciences from $165.00 to $175.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Stifel Nicolaus upped their price target on Neurocrine Biosciences from $166.00 to $174.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Finally, Wedbush upped their price target on Neurocrine Biosciences from $137.00 to $141.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Three equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $160.90.

Neurocrine Biosciences Company Profile

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.