Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Director Sells $269,173.38 in Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Director Kevin Charles Gorman sold 2,274 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $118.37, for a total value of $269,173.38. Following the transaction, the director now directly owns 519,074 shares in the company, valued at approximately $61,442,789.38. This trade represents a 0.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Kevin Charles Gorman also recently made the following trade(s):

• On Friday, January 31st, Kevin Charles Gorman sold 2,707 shares of Neurocrine Biosciences stock. The shares were sold at an average price of $152.92, for a total value of $413,954.44.
• On Monday, January 27th, Kevin Charles Gorman sold 146,105 shares of Neurocrine Biosciences stock. The shares were sold at an average price of $149.46, for a total value of $21,836,853.30.

Neurocrine Biosciences Price Performance

NBIX traded up $0.33 on Wednesday, reaching $117.18. 2,148,807 shares of the company’s stock were exchanged, compared to its average volume of 1,350,825. The stock’s fifty day moving average price is $138.49 and its 200-day moving average price is $131.02. Neurocrine Biosciences, Inc. has a twelve month low of $110.95 and a twelve month high of $157.98. The stock has a market cap of $11.86 billion, a PE ratio of 35.62 and a beta of 0.33.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings results on Thursday, February 6th. The company reported $1.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.62). Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.45%. As a group, research analysts predict that Neurocrine Biosciences, Inc. will post 6.53 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NBIX. UBS Group increased their price objective on Neurocrine Biosciences from $162.00 to $176.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft started coverage on Neurocrine Biosciences in a research note on Tuesday. They set a “hold” rating and a $138.00 price objective on the stock. Morgan Stanley raised their target price on Neurocrine Biosciences from $170.00 to $185.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Guggenheim cut their price objective on Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating on the stock in a research report on Monday. Finally, William Blair reaffirmed an “outperform” rating on shares of Neurocrine Biosciences in a research report on Friday, February 7th. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $166.90.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Cetera Investment Advisers lifted its stake in shares of Neurocrine Biosciences by 7.9% in the 2nd quarter. Cetera Investment Advisers now owns 7,112 shares of the company’s stock worth $979,000 after acquiring an additional 519 shares during the period. Sanctuary Advisors LLC acquired a new position in Neurocrine Biosciences during the second quarter worth about $510,000. CWM LLC raised its position in Neurocrine Biosciences by 15.1% during the third quarter. CWM LLC now owns 7,884 shares of the company’s stock worth $908,000 after acquiring an additional 1,035 shares during the last quarter. Exchange Traded Concepts LLC raised its position in Neurocrine Biosciences by 29.3% during the third quarter. Exchange Traded Concepts LLC now owns 7,964 shares of the company’s stock worth $918,000 after acquiring an additional 1,803 shares during the last quarter. Finally, Redhawk Wealth Advisors Inc. grew its holdings in shares of Neurocrine Biosciences by 9.1% during the third quarter. Redhawk Wealth Advisors Inc. now owns 9,639 shares of the company’s stock worth $1,111,000 after buying an additional 807 shares in the last quarter. 92.59% of the stock is owned by hedge funds and other 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.