Matt Abernethy Sells 1,283 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) CFO Matt Abernethy sold 1,283 shares of Neurocrine Biosciences stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $152.87, for a total transaction of $196,132.21. Following the sale, the chief financial officer now owns 32,681 shares in the company, valued at approximately $4,995,944.47. This trade represents a 3.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Neurocrine Biosciences Trading Up 1.5 %

Shares of NBIX stock opened at $152.42 on Wednesday. Neurocrine Biosciences, Inc. has a 1 year low of $110.95 and a 1 year high of $157.98. The firm’s 50 day moving average is $137.92 and its 200-day moving average is $131.51. The firm has a market capitalization of $15.43 billion, a price-to-earnings ratio of 40.86 and a beta of 0.33.

Analysts Set New Price Targets

NBIX has been the topic of several recent research reports. UBS Group lifted their target price on shares of Neurocrine Biosciences from $162.00 to $176.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Raymond James reiterated an “outperform” rating and set a $155.00 target price on shares of Neurocrine Biosciences in a research report on Thursday, October 10th. BMO Capital Markets reduced their price target on shares of Neurocrine Biosciences from $128.00 to $114.00 and set a “market perform” rating on the stock in a research report on Thursday, October 17th. Needham & Company LLC restated a “hold” rating on shares of Neurocrine Biosciences in a research report on Friday, December 20th. Finally, William Blair restated an “outperform” rating on shares of Neurocrine Biosciences in a research report on Monday, December 16th. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $166.85.

Institutional Investors Weigh In On Neurocrine Biosciences

A number of institutional investors and hedge funds have recently modified their holdings of NBIX. Golden State Wealth Management LLC bought a new stake in shares of Neurocrine Biosciences during the fourth quarter worth approximately $25,000. Brooklyn Investment Group raised its stake in shares of Neurocrine Biosciences by 99.1% during the fourth quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock worth $32,000 after buying an additional 115 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Neurocrine Biosciences by 171.9% during the third quarter. Blue Trust Inc. now owns 348 shares of the company’s stock worth $40,000 after buying an additional 220 shares during the last quarter. R Squared Ltd bought a new stake in shares of Neurocrine Biosciences during the fourth quarter worth approximately $61,000. Finally, UMB Bank n.a. raised its stake in shares of Neurocrine Biosciences by 211.6% during the fourth quarter. UMB Bank n.a. now owns 455 shares of the company’s stock worth $62,000 after buying an additional 309 shares during the last quarter. 92.59% of the stock is owned by institutional investors.

About Neurocrine Biosciences

Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, neuroendocrine, and neuropsychiatric disorders in the United States and internationally. The company’s products include INGREZZA for tardive dyskinesia and chorea associated with Huntington’s disease; ALKINDI for adrenal insufficiency; Efmody capsules for classic congenital adrenal hyperplasia; Orilissa tablets for endometriosis; and Oriahnn capsules to treat uterine fibroids.