Neurocrine Biosciences, Inc. (NASDAQ:NBIX) CFO Sells $2,120,358.00 in Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) CFO Matt Abernethy sold 14,100 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $150.38, for a total value of $2,120,358.00. Following the sale, the chief financial officer now directly owns 31,528 shares of the company’s stock, valued at $4,741,180.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Neurocrine Biosciences Price Performance

NBIX opened at $145.01 on Friday. Neurocrine Biosciences, Inc. has a 1-year low of $103.63 and a 1-year high of $157.98. The stock’s 50 day simple moving average is $141.96 and its 200 day simple moving average is $138.94. The stock has a market cap of $14.59 billion, a P/E ratio of 39.95 and a beta of 0.37.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its earnings results on Thursday, August 1st. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.52). Neurocrine Biosciences had a net margin of 16.00% and a return on equity of 14.86%. The company had revenue of $590.20 million during the quarter, compared to analysts’ expectations of $545.98 million. During the same period in the previous year, the company posted $0.95 EPS. Neurocrine Biosciences’s quarterly revenue was up 30.4% compared to the same quarter last year. Research analysts expect that Neurocrine Biosciences, Inc. will post 4.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Neurocrine Biosciences

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. First Horizon Advisors Inc. lifted its stake in Neurocrine Biosciences by 10.5% in the 4th quarter. First Horizon Advisors Inc. now owns 782 shares of the company’s stock valued at $103,000 after buying an additional 74 shares in the last quarter. Quadrant Capital Group LLC lifted its stake in Neurocrine Biosciences by 3.9% in the 4th quarter. Quadrant Capital Group LLC now owns 2,075 shares of the company’s stock valued at $273,000 after buying an additional 78 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in shares of Neurocrine Biosciences by 3.2% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 2,530 shares of the company’s stock worth $333,000 after purchasing an additional 78 shares during the period. Commonwealth Equity Services LLC lifted its stake in shares of Neurocrine Biosciences by 0.6% during the 1st quarter. Commonwealth Equity Services LLC now owns 13,941 shares of the company’s stock worth $1,923,000 after purchasing an additional 84 shares during the period. Finally, Balentine LLC lifted its stake in shares of Neurocrine Biosciences by 4.0% during the 4th quarter. Balentine LLC now owns 2,316 shares of the company’s stock worth $305,000 after purchasing an additional 89 shares during the period. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on NBIX shares. BMO Capital Markets upped their price objective on Neurocrine Biosciences from $129.00 to $138.00 and gave the company a “market perform” rating in a research note on Thursday, May 2nd. UBS Group upped their price objective on Neurocrine Biosciences from $174.00 to $193.00 and gave the company a “buy” rating in a research note on Tuesday, May 28th. Evercore ISI started coverage on Neurocrine Biosciences in a research note on Tuesday, May 14th. They set an “outperform” rating and a $175.00 price objective for the company. JPMorgan Chase & Co. upped their price objective on Neurocrine Biosciences from $173.00 to $181.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Finally, Guggenheim boosted their target price on Neurocrine Biosciences from $170.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Six research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Neurocrine Biosciences has an average rating of “Moderate Buy” and a consensus target price of $158.68.

Neurocrine Biosciences Company Profile

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.