Neurocrine Biosciences (NASDAQ:NBIX) Insider Ingrid Delaet Sells 4,367 Shares

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) insider Ingrid Delaet sold 4,367 shares of Neurocrine Biosciences stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $181.02, for a total value of $790,514.34. Following the completion of the transaction, the insider directly owned 16,225 shares in the company, valued at approximately $2,937,049.50. This represents a 21.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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.

Ingrid Delaet also recently made the following trade(s):

• On Tuesday, July 7th, Ingrid Delaet sold 3,401 shares of Neurocrine Biosciences stock. The shares were sold at an average price of $178.57, for a total transaction of $607,316.57.
• On Wednesday, July 8th, Ingrid Delaet sold 2,737 shares of Neurocrine Biosciences stock. The shares were sold at an average price of $178.54, for a total transaction of $488,663.98.
• On Thursday, July 9th, Ingrid Delaet sold 8,433 shares of Neurocrine Biosciences stock. The stock was sold at an average price of $178.72, for a total value of $1,507,145.76.
• On Friday, May 29th, Ingrid Delaet sold 2,261 shares of Neurocrine Biosciences stock. The stock was sold at an average price of $156.71, for a total value of $354,321.31.

Neurocrine Biosciences Price Performance

Shares of NASDAQ:NBIX opened at $174.10 on Tuesday. The company has a market capitalization of $17.51 billion, a price-to-earnings ratio of 26.83, a P/E/G ratio of 0.71 and a beta of 0.39. The business’s 50-day moving average is $161.69 and its 200-day moving average is $143.06. Neurocrine Biosciences, Inc. has a 1 year low of $122.14 and a 1 year high of $181.18.

Analysts Set New Price Targets

NBIX has been the topic of several recent analyst reports. Zacks Research raised Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 23rd. Royal Bank Of Canada lifted their price objective on shares of Neurocrine Biosciences from $183.00 to $195.00 and gave the company an “outperform” rating in a research note on Tuesday, July 7th. Needham & Company LLC reiterated a “buy” rating and set a $185.00 target price on shares of Neurocrine Biosciences in a research report on Monday, April 6th. Guggenheim reissued a “buy” rating and set a $175.00 target price on shares of Neurocrine Biosciences in a research note on Wednesday, May 6th. Finally, Wall Street Zen upgraded shares of Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 25th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $191.67.

Neurocrine Biosciences News Roundup

Here are the key news stories impacting Neurocrine Biosciences this week:

• Positive Sentiment: Truist Financial raised its price target on Neurocrine Biosciences to $200 from $155 and reiterated a buy rating, signaling confidence in further upside for the stock. Benzinga report on Truist price target increase
• Neutral Sentiment: BMO Capital Markets also lifted its price target on Neurocrine Biosciences to $170 from $144, but kept a market perform rating, suggesting a more cautious view despite the higher valuation estimate. Benzinga report on BMO price target increase
• Negative Sentiment: Two insiders sold shares in recent transactions, including Darin Lippoldt and Ingrid Delaet, which can create concern about management’s near-term outlook even though the sales were made under pre-arranged 10b5-1 plans. Article on Darin Lippoldt sale Article on Ingrid Delaet sale

Institutional Investors Weigh In On Neurocrine Biosciences

Hedge funds and other institutional investors have recently modified their holdings of the company. AQR Capital Management LLC raised its position in shares of Neurocrine Biosciences by 83.7% during the third quarter. AQR Capital Management LLC now owns 2,773,648 shares of the company’s stock worth $388,435,000 after purchasing an additional 1,263,633 shares during the period. Norges Bank bought a new position in shares of Neurocrine Biosciences in the 4th quarter worth $162,664,000. UBS Group AG grew its position in Neurocrine Biosciences by 169.8% in the 4th quarter. UBS Group AG now owns 983,528 shares of the company’s stock valued at $139,494,000 after purchasing an additional 618,956 shares during the period. First Trust Advisors LP grew its position in Neurocrine Biosciences by 97.0% in the 1st quarter. First Trust Advisors LP now owns 959,217 shares of the company’s stock valued at $126,367,000 after purchasing an additional 472,408 shares during the period. Finally, Zurich Insurance Group Ltd FI bought a new stake in Neurocrine Biosciences during the 4th quarter valued at $65,162,000. Institutional investors own 92.59% of the company’s stock.

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.