Darin Lippoldt Sells 9,800 Shares of Neurocrine Biosciences (NASDAQ:NBIX) Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) insider Darin Lippoldt sold 9,800 shares of the business’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $170.16, for a total transaction of $1,667,568.00. Following the transaction, the insider owned 54,729 shares in the company, valued at $9,312,686.64. The trade was a 15.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Darin Lippoldt also recently made the following trade(s):

• On Friday, June 26th, Darin Lippoldt sold 200 shares of Neurocrine Biosciences stock. The stock was sold at an average price of $169.56, for a total transaction of $33,912.00.

Neurocrine Biosciences Trading Down 0.5%

NASDAQ:NBIX opened at $167.77 on Thursday. The stock has a market capitalization of $16.87 billion, a price-to-earnings ratio of 25.85, a PEG ratio of 0.67 and a beta of 0.38. The firm has a fifty day simple moving average of $154.25 and a two-hundred day simple moving average of $141.43. Neurocrine Biosciences, Inc. has a 12 month low of $122.14 and a 12 month high of $171.50.

Hedge Funds Weigh In On Neurocrine Biosciences

Hedge funds have recently added to or reduced their stakes in the stock. Basecamp Wealth Advisors LLC increased its holdings in Neurocrine Biosciences by 582.9% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 239 shares of the company’s stock worth $31,000 after purchasing an additional 204 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Neurocrine Biosciences by 471.3% in the first quarter. Pacer Advisors Inc. now owns 169,230 shares of the company’s stock valued at $22,294,000 after purchasing an additional 139,609 shares in the last quarter. Carmignac Gestion lifted its holdings in shares of Neurocrine Biosciences by 192.5% in the first quarter. Carmignac Gestion now owns 186,000 shares of the company’s stock valued at $24,504,000 after purchasing an additional 122,400 shares in the last quarter. Defilade Capital Management L.P. purchased a new position in shares of Neurocrine Biosciences during the first quarter valued at approximately $27,656,000. Finally, Parallel Advisors LLC boosted its position in shares of Neurocrine Biosciences by 12.3% during the first quarter. Parallel Advisors LLC now owns 1,776 shares of the company’s stock valued at $234,000 after buying an additional 195 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on NBIX. JPMorgan Chase & Co. raised their target price on Neurocrine Biosciences from $177.00 to $185.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Canaccord Genuity Group increased their price target on Neurocrine Biosciences from $164.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, April 7th. Wedbush raised their price objective on Neurocrine Biosciences from $166.00 to $176.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Leerink Partners boosted their price objective on Neurocrine Biosciences from $160.00 to $170.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $185.00 target price on shares of Neurocrine Biosciences in a research report on Monday, April 6th. Two equities research 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, Neurocrine Biosciences has an average rating of “Moderate Buy” and a consensus price target of $187.52.

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.