Julie Cooke Sells 36,937 Shares of Neurocrine Biosciences (NASDAQ:NBIX) Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) insider Julie Cooke sold 36,937 shares of Neurocrine Biosciences stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $156.22, for a total transaction of $5,770,298.14. Following the completion of the sale, the insider owned 22,374 shares of the company’s stock, valued at $3,495,266.28. This trade represents a 62.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Neurocrine Biosciences Stock Down 2.1%

NBIX stock opened at $163.88 on Friday. The firm has a 50 day moving average of $142.73 and a 200 day moving average of $139.71. The stock has a market capitalization of $16.48 billion, a PE ratio of 25.25, a price-to-earnings-growth ratio of 1.26 and a beta of 0.40. Neurocrine Biosciences, Inc. has a 52 week low of $122.14 and a 52 week high of $169.57.

Hedge Funds Weigh In On Neurocrine Biosciences

Several institutional investors have recently made changes to their positions in NBIX. Nilsine Partners LLC purchased a new stake in Neurocrine Biosciences in the 4th quarter worth $1,197,000. Ruffer LLP acquired a new stake in Neurocrine Biosciences during the 4th quarter worth $2,479,000. Korea Investment CORP boosted its stake in Neurocrine Biosciences by 94.3% during the 3rd 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. boosted its stake in Neurocrine Biosciences by 2.4% during the 3rd 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 boosted its stake in Neurocrine Biosciences by 17,250.0% during the 3rd 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. 92.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on NBIX shares. Morgan Stanley raised their price target on shares of Neurocrine Biosciences from $185.00 to $191.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Needham & Company LLC reissued a “buy” rating and set a $185.00 price target on shares of Neurocrine Biosciences in a research report on Monday, April 6th. Citigroup raised their price target on shares of Neurocrine Biosciences from $242.00 to $246.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Leerink Partners raised their price target on shares of Neurocrine Biosciences from $160.00 to $170.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Finally, Zacks Research raised shares of Neurocrine Biosciences from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $187.52.

About Neurocrine Biosciences

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.