Richard Pops Sells 15,000 Shares of Neurocrine Biosciences (NASDAQ:NBIX) Stock

by · The Cerbat Gem

Neurocrine Biosciences, Inc. (NASDAQ:NBIX – Get Free Report) Director Richard Pops sold 15,000 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $157.65, for a total value of $2,364,750.00. Following the completion of the transaction, the director directly owned 34,480 shares of the company’s stock, valued at approximately $5,435,772. The trade was a 30.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ:NBIX traded down $1.21 on Monday, hitting $157.21. The company’s stock had a trading volume of 1,127,630 shares, compared to its average volume of 1,182,389. Neurocrine Biosciences, Inc. has a 12 month low of $117.59 and a 12 month high of $162.39. The company has a market capitalization of $15.81 billion, a price-to-earnings ratio of 24.22, a price-to-earnings-growth ratio of 1.19 and a beta of 0.34. The stock’s 50-day moving average is $134.05 and its two-hundred day moving average is $138.39.

Institutional Trading of Neurocrine Biosciences

Several institutional investors have recently modified their holdings of the company. Royal Bank of Canada lifted its holdings in shares of Neurocrine Biosciences by 36.7% during the first quarter. Royal Bank of Canada now owns 82,810 shares of the company’s stock valued at $9,158,000 after purchasing an additional 22,224 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Neurocrine Biosciences by 60.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,783 shares of the company’s stock valued at $1,647,000 after purchasing an additional 5,577 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in shares of Neurocrine Biosciences by 56.3% during the first quarter. NewEdge Advisors LLC now owns 7,630 shares of the company’s stock valued at $844,000 after purchasing an additional 2,747 shares during the last quarter. Empowered Funds LLC purchased a new stake in shares of Neurocrine Biosciences during the first quarter valued at $1,333,000. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Neurocrine Biosciences by 143.6% during the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock valued at $25,000 after purchasing an additional 135 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Wall Street Analysts Forecast Growth

NBIX has been the subject of several recent analyst reports. Royal Bank Of Canada increased their price target on Neurocrine Biosciences from $176.00 to $180.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th. Citigroup upped their price objective on Neurocrine Biosciences from $242.00 to $246.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Piper Sandler upped their price objective on Neurocrine Biosciences from $190.00 to $207.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Wedbush upped their price objective on Neurocrine Biosciences from $166.00 to $176.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Finally, HC Wainwright upped their price objective on Neurocrine Biosciences from $192.00 to $215.00 and gave the company a “buy” rating in a report on Tuesday, April 7th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Neurocrine Biosciences presently has an average rating of “Moderate Buy” and a consensus price target of $184.15.

Read Our Latest Stock Report on NBIX

About Neurocrine Biosciences

(Get Free Report)

Neurocrine Biosciences (NASDAQ: NBIX) is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research‐driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine’s operations encompass drug discovery, clinical development and commercialization activities.

The company’s lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.

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