Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Director Sells $21,836,853.30 in Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Director Kevin Charles Gorman sold 146,105 shares of Neurocrine Biosciences stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $149.46, for a total transaction of $21,836,853.30. Following the transaction, the director now owns 514,596 shares of the company’s stock, valued at $76,911,518.16. This represents a 22.11 % 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.

Neurocrine Biosciences Price Performance

NASDAQ NBIX traded down $0.03 during trading on Wednesday, reaching $150.68. The company’s stock had a trading volume of 991,664 shares, compared to its average volume of 975,348. The firm has a fifty day moving average of $135.33 and a 200 day moving average of $131.30. Neurocrine Biosciences, Inc. has a one year low of $110.95 and a one year high of $157.98. The stock has a market capitalization of $15.26 billion, a PE ratio of 40.40 and a beta of 0.33.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NBIX. Barclays raised their price target on shares of Neurocrine Biosciences from $160.00 to $165.00 and gave the company an “overweight” rating in a research report on Monday, December 23rd. StockNews.com downgraded Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 1st. BMO Capital Markets reduced their target price on Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating for the company in a report on Thursday, October 17th. UBS Group raised their target price on Neurocrine Biosciences from $142.00 to $162.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Finally, William Blair reissued an “outperform” rating on shares of Neurocrine Biosciences in a research report on Monday, December 16th. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Neurocrine Biosciences has a consensus rating of “Moderate Buy” and an average price target of $165.40.

Hedge Funds Weigh In On Neurocrine Biosciences

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp lifted its holdings in shares of Neurocrine Biosciences by 11.7% during the 3rd quarter. State Street Corp now owns 5,148,293 shares of the company’s stock worth $593,186,000 after acquiring an additional 539,936 shares during the last quarter. Geode Capital Management LLC raised its position in Neurocrine Biosciences by 2.2% during the third quarter. Geode Capital Management LLC now owns 1,859,232 shares of the company’s stock valued at $213,773,000 after purchasing an additional 39,610 shares in the last quarter. Braidwell LP lifted its stake in Neurocrine Biosciences by 20.9% during the third quarter. Braidwell LP now owns 917,674 shares of the company’s stock worth $105,734,000 after purchasing an additional 158,665 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of Neurocrine Biosciences by 145.1% in the 4th quarter. Jennison Associates LLC now owns 820,694 shares of the company’s stock worth $112,025,000 after purchasing an additional 485,894 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of Neurocrine Biosciences by 4.7% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 819,968 shares of the company’s stock valued at $94,478,000 after purchasing an additional 37,098 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

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.