Jude Onyia Sells 11,000 Shares of Neurocrine Biosciences (NASDAQ:NBIX) Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) insider Jude Onyia sold 11,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $155.53, for a total value of $1,710,830.00. Following the completion of the transaction, the insider directly owned 25,846 shares of the company’s stock, valued at $4,019,828.38. This trade represents a 29.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Neurocrine Biosciences Stock Up 1.2%

Shares of NBIX opened at $158.30 on Friday. The stock has a 50 day moving average price of $139.36 and a 200 day moving average price of $139.16. The company has a market capitalization of $15.92 billion, a price-to-earnings ratio of 24.39, a price-to-earnings-growth ratio of 1.19 and a beta of 0.34. Neurocrine Biosciences, Inc. has a 52-week low of $121.42 and a 52-week high of $162.39.

Institutional Investors Weigh In On Neurocrine Biosciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NBIX. Nilsine Partners LLC purchased a new stake in shares of Neurocrine Biosciences during the fourth quarter worth approximately $1,197,000. Ruffer LLP purchased a new stake in shares of Neurocrine Biosciences during the fourth quarter worth approximately $2,479,000. Korea Investment CORP raised its stake in shares of Neurocrine Biosciences by 94.3% during the third quarter. Korea Investment CORP now owns 71,689 shares of the company’s stock worth $10,064,000 after purchasing an additional 34,800 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Neurocrine Biosciences by 2.4% during the third quarter. Envestnet Asset Management Inc. now owns 202,846 shares of the company’s stock worth $28,476,000 after purchasing an additional 4,807 shares during the last quarter. Finally, CIBC Private Wealth Group LLC raised its stake in shares of Neurocrine Biosciences by 17,250.0% during the third quarter. CIBC Private Wealth Group LLC now owns 7,981 shares of the company’s stock worth $1,120,000 after purchasing an additional 7,935 shares during the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Canaccord Genuity Group upped their price target on Neurocrine Biosciences from $164.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, April 7th. Wells Fargo & Company reduced their price objective on Neurocrine Biosciences from $180.00 to $175.00 and set an “overweight” rating for the company in a research note on Friday, February 13th. Piper Sandler boosted their price objective on Neurocrine Biosciences from $190.00 to $207.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Wall Street Zen upgraded Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 25th. Finally, Wolfe Research began coverage on Neurocrine Biosciences in a research note on Tuesday, February 24th. They issued an “outperform” rating and a $160.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $186.05.

Neurocrine Biosciences Company Profile

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.