Neurocrine Biosciences (NASDAQ:NBIX) Insider Darin Lippoldt Sells 10,000 Shares

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) insider Darin Lippoldt sold 10,000 shares of Neurocrine Biosciences stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $179.60, for a total value of $1,796,000.00. Following the completion of the sale, the insider owned 54,729 shares of the company’s stock, valued at $9,829,328.40. This trade represents a 15.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, June 29th, Darin Lippoldt sold 9,800 shares of Neurocrine Biosciences stock. The stock was sold at an average price of $170.16, for a total transaction of $1,667,568.00.
• 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 Stock Performance

Neurocrine Biosciences stock opened at $174.10 on Tuesday. Neurocrine Biosciences, Inc. has a 1 year low of $122.14 and a 1 year high of $181.18. The firm has a 50 day moving average price of $161.69 and a 200 day moving average price of $143.06. The company has a market cap of $17.51 billion, a price-to-earnings ratio of 26.83, a PEG ratio of 0.71 and a beta of 0.39.

Institutional Investors Weigh In On Neurocrine Biosciences

Several large investors have recently added to or reduced their stakes in NBIX. Nilsine Partners LLC bought a new position in Neurocrine Biosciences in the 4th quarter worth about $1,197,000. Ruffer LLP acquired a new stake in shares of Neurocrine Biosciences in the fourth quarter valued at approximately $2,479,000. Nordea Investment Management AB raised its holdings in shares of Neurocrine Biosciences by 81.3% during the fourth quarter. Nordea Investment Management AB now owns 27,202 shares of the company’s stock valued at $3,834,000 after buying an additional 12,195 shares during the last quarter. CIBC Private Wealth Group LLC boosted its position 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 buying an additional 7,935 shares during the period. Finally, Iron Triangle Partners LP acquired a new position in shares of Neurocrine Biosciences during the third quarter worth approximately $18,445,000. 92.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on NBIX. Wedbush upped their price objective on Neurocrine Biosciences from $166.00 to $176.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. Piper Sandler lifted their target price on Neurocrine Biosciences from $190.00 to $207.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Morgan Stanley boosted their price target on Neurocrine Biosciences from $185.00 to $191.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. Citigroup upped their price target on Neurocrine Biosciences from $242.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Finally, Royal Bank Of Canada raised their price objective on Neurocrine Biosciences from $183.00 to $195.00 and gave the stock an “outperform” rating in a report on Tuesday, July 7th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Neurocrine Biosciences currently has a consensus rating of “Moderate Buy” and an average price target 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

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.