Stephen Sherwin Sells 25,000 Shares of Neurocrine Biosciences (NASDAQ:NBIX) Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Director Stephen Sherwin sold 25,000 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $165.32, for a total value of $4,133,000.00. Following the completion of the transaction, the director directly owned 15,860 shares of the company’s stock, valued at $2,621,975.20. This represents a 61.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Neurocrine Biosciences Stock Performance

Shares of NBIX opened at $160.86 on Thursday. The company has a market capitalization of $16.17 billion, a P/E ratio of 24.79, a P/E/G ratio of 1.24 and a beta of 0.40. Neurocrine Biosciences, Inc. has a one year low of $122.14 and a one year high of $169.57. The stock has a 50-day moving average price of $144.73 and a 200 day moving average price of $140.20.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NBIX. The Goldman Sachs Group began coverage on Neurocrine Biosciences in a report on Tuesday, June 2nd. They issued a “buy” rating and a $213.00 price target for the company. Wells Fargo & Company reduced their price target on Neurocrine Biosciences from $180.00 to $175.00 and set an “overweight” rating for the company in a report on Friday, February 13th. Sanford C. Bernstein started coverage on Neurocrine Biosciences in a report on Friday, May 22nd. They set an “outperform” rating and a $221.00 target price on the stock. Zacks Research raised Neurocrine Biosciences from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 15th. Finally, Wall Street Zen raised Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 25th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $187.52.

Institutional Trading of Neurocrine Biosciences

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. NewEdge Advisors LLC raised its position in shares of Neurocrine Biosciences by 0.5% during the 1st quarter. NewEdge Advisors LLC now owns 13,066 shares of the company’s stock worth $1,721,000 after purchasing an additional 68 shares during the period. AlTi Global Inc. raised its position in shares of Neurocrine Biosciences by 1.0% during the 3rd quarter. AlTi Global Inc. now owns 6,828 shares of the company’s stock worth $959,000 after purchasing an additional 70 shares during the period. Huntington National Bank raised its position in shares of Neurocrine Biosciences by 12.6% during the 4th quarter. Huntington National Bank now owns 678 shares of the company’s stock worth $96,000 after purchasing an additional 76 shares during the period. Perigon Wealth Management LLC raised its position in shares of Neurocrine Biosciences by 3.1% during the 4th quarter. Perigon Wealth Management LLC now owns 2,590 shares of the company’s stock worth $367,000 after purchasing an additional 78 shares during the period. Finally, Motley Fool Asset Management LLC raised its position in shares of Neurocrine Biosciences by 4.8% during the 4th quarter. Motley Fool Asset Management LLC now owns 1,693 shares of the company’s stock worth $240,000 after purchasing an additional 78 shares during the period. 92.59% of the stock is currently owned by institutional investors and hedge funds.

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.