Insider Selling: Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Director Sells 146,105 Shares of Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Director Kevin Charles Gorman sold 146,105 shares of the company’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $149.46, for a total value of $21,836,853.30. Following the transaction, the director now directly owns 514,596 shares in the company, valued at $76,911,518.16. This trade represents a 22.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Neurocrine Biosciences Trading Down 0.0 %

Shares of NASDAQ:NBIX traded down $0.03 on Wednesday, hitting $150.68. The company had a trading volume of 991,664 shares, compared to its average volume of 975,348. The stock has a 50 day moving average price of $135.33 and a 200 day moving average price of $131.30. The stock has a market cap of $15.26 billion, a price-to-earnings ratio of 40.40 and a beta of 0.33. Neurocrine Biosciences, Inc. has a 1-year low of $110.95 and a 1-year high of $157.98.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NBIX. Wedbush reissued an “outperform” rating and set a $148.00 price target on shares of Neurocrine Biosciences in a research note on Monday, December 16th. Royal Bank of Canada lowered their price objective on shares of Neurocrine Biosciences from $136.00 to $133.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. William Blair reiterated an “outperform” rating on shares of Neurocrine Biosciences in a report on Monday, December 16th. Needham & Company LLC reaffirmed a “hold” rating on shares of Neurocrine Biosciences in a research report on Friday, December 20th. Finally, Barclays raised their price target on shares of Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, December 23rd. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Neurocrine Biosciences currently has an average rating of “Moderate Buy” and a consensus target price of $165.40.

Institutional Investors Weigh In On Neurocrine Biosciences

Several hedge funds have recently bought and sold shares of NBIX. Golden State Wealth Management LLC bought a new position in Neurocrine Biosciences during the fourth quarter worth about $25,000. Brooklyn Investment Group grew its holdings in shares of Neurocrine Biosciences by 99.1% during the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock valued at $32,000 after purchasing an additional 115 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Neurocrine Biosciences by 171.9% in the third quarter. Blue Trust Inc. now owns 348 shares of the company’s stock valued at $40,000 after buying an additional 220 shares during the period. R Squared Ltd acquired a new position in Neurocrine Biosciences during the 4th quarter worth about $61,000. Finally, UMB Bank n.a. lifted its holdings in Neurocrine Biosciences by 211.6% in the fourth quarter. UMB Bank n.a. now owns 455 shares of the company’s stock valued at $62,000 after buying an additional 309 shares during the period. 92.59% of the stock is currently owned by institutional investors and hedge funds.

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.