Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Insider Dimitri E. Grigoriadis Sells 15,354 Shares
Neurocrine Biosciences, Inc. (NASDAQ:NBIX) insider Dimitri E. Grigoriadis sold 15,354 shares of Neurocrine Biosciences stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $55.00, for a total value of $844,470.00. Following the sale, the insider now owns 123,045 shares of the company’s stock, valued at approximately $6,767,475. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Shares of Neurocrine Biosciences, Inc. (NASDAQ NBIX) traded up 1.026% during midday trading on Monday, hitting $54.625. The stock had a trading volume of 436,847 shares. Neurocrine Biosciences, Inc. has a one year low of $37.35 and a one year high of $55.38. The firm’s 50-day moving average price is $48.53 and its 200-day moving average price is $46.79. The firm’s market capitalization is $4.82 billion.
Neurocrine Biosciences (NASDAQ:NBIX) last released its earnings results on Thursday, August 3rd. The company reported ($0.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.67) by $0.01. The company had revenue of $6.34 million during the quarter, compared to analyst estimates of $0.61 million. During the same quarter in the prior year, the company posted ($0.46) earnings per share. On average, equities analysts predict that Neurocrine Biosciences, Inc. will post ($2.45) EPS for the current year.
NBIX has been the subject of several recent analyst reports. Needham & Company LLC restated a “buy” rating and issued a $58.00 price target (down previously from $62.00) on shares of Neurocrine Biosciences in a report on Wednesday, May 24th. Jefferies Group LLC restated a “buy” rating and issued a $67.00 price target on shares of Neurocrine Biosciences in a report on Monday, May 22nd. Bank of America Corporation restated a “buy” rating and issued a $70.00 price target on shares of Neurocrine Biosciences in a report on Monday, May 15th. J P Morgan Chase & Co set a $57.00 price objective on Neurocrine Biosciences and gave the company a “buy” rating in a research note on Wednesday, May 24th. Finally, Piper Jaffray Companies set a $68.00 price objective on Neurocrine Biosciences and gave the company a “buy” rating in a research note on Wednesday, May 24th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seventeen have issued a buy rating to the company’s stock. Neurocrine Biosciences currently has a consensus rating of “Buy” and a consensus price target of $68.25.
Several hedge funds have recently added to or reduced their stakes in NBIX. Jennison Associates LLC increased its stake in Neurocrine Biosciences by 76.1% in the first quarter. Jennison Associates LLC now owns 650,372 shares of the company’s stock worth $28,161,000 after buying an additional 280,963 shares in the last quarter. Grandfield & Dodd LLC acquired a new position in shares of Neurocrine Biosciences during the first quarter worth $230,000. Canada Pension Plan Investment Board increased its position in shares of Neurocrine Biosciences by 41.0% in the first quarter. Canada Pension Plan Investment Board now owns 16,500 shares of the company’s stock worth $714,000 after buying an additional 4,800 shares during the period. Wells Fargo & Company MN increased its position in shares of Neurocrine Biosciences by 143.9% in the first quarter. Wells Fargo & Company MN now owns 297,122 shares of the company’s stock worth $12,864,000 after buying an additional 175,292 shares during the period. Finally, First Mercantile Trust Co. increased its position in shares of Neurocrine Biosciences by 22.2% in the first quarter. First Mercantile Trust Co. now owns 3,082 shares of the company’s stock worth $133,000 after buying an additional 560 shares during the period. 95.87% of the stock is currently owned by institutional investors and hedge funds.
Neurocrine Biosciences Company Profile
Neurocrine Biosciences, Inc is engaged in discovering and developing pharmaceuticals, in diseases with unmet medical needs, through its research and development (R&D) platform, focused on neurological and endocrine based diseases and disorders. Its three lead late-stage clinical programs are elagolix, which is a gonadotropin-releasing hormone (GnRH) antagonist for endometriosis and uterine fibroids; INGREZZA (valbenazine), which is a vesicular monoamine transporter 2 (VMAT2) inhibitor, for the treatment of movement disorders, and opicapone, which is a selective catechol-O-methyltransferase inhibitor that is an adjunct therapy to preparations of levodopa/Dihydroxyphenylalanine (DOPA) decarboxylase inhibitors for adult patients with Parkinson’s disease.
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