Insider Selling: Neurocrine Biosciences, Inc. (NASDAQ:NBIX) CFO Sells $196,132.21 in Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) CFO Matt Abernethy sold 1,283 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $152.87, for a total transaction of $196,132.21. Following the completion of the sale, the chief financial officer now owns 32,681 shares of the company’s stock, valued at $4,995,944.47. This trade represents a 3.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Neurocrine Biosciences Stock Down 0.5 %

Shares of NBIX opened at $150.51 on Friday. The company has a 50 day moving average of $138.41 and a two-hundred day moving average of $131.64. The company has a market cap of $15.24 billion, a price-to-earnings ratio of 40.35 and a beta of 0.33. Neurocrine Biosciences, Inc. has a twelve month low of $110.95 and a twelve month high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data on Thursday, February 6th. The company reported $1.00 earnings per share for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.62). Neurocrine Biosciences had a return on equity of 15.68% and a net margin of 17.21%. On average, sell-side analysts expect that Neurocrine Biosciences, Inc. will post 3.92 EPS for the current year.

Institutional Investors Weigh In On Neurocrine Biosciences

A number of large investors have recently modified their holdings of NBIX. Golden State Wealth Management LLC purchased a new position in shares of Neurocrine Biosciences in the 4th quarter valued at approximately $25,000. Brooklyn Investment Group increased its stake in 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 in the last quarter. Blue Trust Inc. increased its stake in Neurocrine Biosciences by 171.9% during the 3rd quarter. Blue Trust Inc. now owns 348 shares of the company’s stock valued at $40,000 after purchasing an additional 220 shares in the last quarter. Lindbrook Capital LLC raised its holdings in shares of Neurocrine Biosciences by 53.5% in the fourth quarter. Lindbrook Capital LLC now owns 373 shares of the company’s stock worth $51,000 after buying an additional 130 shares during the last quarter. Finally, R Squared Ltd acquired a new stake in shares of Neurocrine Biosciences during the fourth quarter worth $61,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Analyst Ratings Changes

NBIX has been the subject of several analyst reports. UBS Group raised their price objective on shares of Neurocrine Biosciences from $162.00 to $176.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Morgan Stanley raised their price target on Neurocrine Biosciences from $170.00 to $185.00 and gave the stock an “overweight” rating in a research note on Tuesday. Wedbush restated an “outperform” rating and set a $148.00 price objective on shares of Neurocrine Biosciences in a report on Monday, December 16th. HC Wainwright reiterated a “buy” rating and issued a $190.00 target price on shares of Neurocrine Biosciences in a research note on Monday, December 16th. Finally, BMO Capital Markets lowered their target price on shares of Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating for the company in a research note on Thursday, October 17th. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $166.85.

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.