Insider Selling: Neurocrine Biosciences, Inc. (NASDAQ:NBIX) CEO Sells 980 Shares of Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) CEO Kyle Gano sold 980 shares of Neurocrine Biosciences stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $118.39, for a total transaction of $116,022.20. Following the transaction, the chief executive officer now owns 137,658 shares of the company’s stock, valued at $16,297,330.62. This represents a 0.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Kyle Gano also recently made the following trade(s):

• On Friday, January 31st, Kyle Gano sold 1,541 shares of Neurocrine Biosciences stock. The shares were sold at an average price of $152.87, for a total transaction of $235,572.67.
• On Wednesday, January 15th, Kyle Gano sold 65,000 shares of Neurocrine Biosciences stock. The stock was sold at an average price of $141.50, for a total value of $9,197,500.00.

Neurocrine Biosciences Stock Performance

Shares of NBIX opened at $117.18 on Thursday. The firm has a market cap of $11.86 billion, a P/E ratio of 35.62 and a beta of 0.33. The business has a 50-day moving average of $138.49 and a 200 day moving average of $131.02. Neurocrine Biosciences, Inc. has a fifty-two week low of $110.95 and a fifty-two week high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings results on Thursday, February 6th. The company reported $1.00 EPS for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.62). Neurocrine Biosciences had a return on equity of 13.45% and a net margin of 14.49%. As a group, research analysts predict that Neurocrine Biosciences, Inc. will post 6.53 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on NBIX. Needham & Company LLC reaffirmed a “hold” rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. HC Wainwright cut their price objective on shares of Neurocrine Biosciences from $190.00 to $185.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Royal Bank of Canada lowered their target price on shares of Neurocrine Biosciences from $154.00 to $148.00 and set a “sector perform” rating for the company in a report on Friday, February 7th. StockNews.com upgraded shares of Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a report on Monday. Finally, William Blair reiterated an “outperform” rating on shares of Neurocrine Biosciences in a research note on Friday, February 7th. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $166.90.

Institutional Investors Weigh In On Neurocrine Biosciences

A number of institutional investors and hedge funds have recently modified their holdings of the company. Caprock Group LLC bought a new position in shares of Neurocrine Biosciences in the 4th quarter worth $236,000. Plato Investment Management Ltd lifted its position in Neurocrine Biosciences by 2,481.9% in the 3rd quarter. Plato Investment Management Ltd now owns 10,973 shares of the company’s stock worth $1,263,000 after buying an additional 10,548 shares during the last quarter. Swiss National Bank boosted its stake in Neurocrine Biosciences by 1.4% in the third quarter. Swiss National Bank now owns 298,700 shares of the company’s stock worth $34,416,000 after buying an additional 4,100 shares in the last quarter. Tri Ri Asset Management Corp bought a new position in Neurocrine Biosciences during the third quarter valued at approximately $3,236,000. Finally, KBC Group NV raised its stake in shares of Neurocrine Biosciences by 78.3% during the third quarter. KBC Group NV now owns 18,972 shares of the company’s stock worth $2,186,000 after acquiring an additional 8,332 shares in the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

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.