Kevin Charles Gorman Sells 146,105 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Director Kevin Charles Gorman sold 146,105 shares of the business’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $149.46, for a total value of $21,836,853.30. Following the sale, the director now directly owns 514,596 shares in the company, valued at $76,911,518.16. This trade represents a 22.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Neurocrine Biosciences Price Performance

Shares of NBIX opened at $153.29 on Friday. The business’s 50 day simple moving average is $135.88 and its 200-day simple moving average is $131.44. The company has a market capitalization of $15.52 billion, a P/E ratio of 41.10 and a beta of 0.33. Neurocrine Biosciences, Inc. has a one year low of $110.95 and a one year high of $157.98.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NBIX. MBB Public Markets I LLC acquired a new stake in shares of Neurocrine Biosciences in the 2nd quarter valued at $982,000. The Manufacturers Life Insurance Company raised its stake in Neurocrine Biosciences by 0.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 125,401 shares of the company’s stock worth $17,264,000 after buying an additional 1,074 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in Neurocrine Biosciences during the second quarter worth about $509,000. Cetera Investment Advisers grew its position 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 valued at $979,000 after purchasing an additional 519 shares during the period. Finally, Sanctuary Advisors LLC bought a new stake in Neurocrine Biosciences during the 2nd quarter worth approximately $510,000. 92.59% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

NBIX has been the topic of several research analyst reports. UBS Group lifted their price objective on shares of Neurocrine Biosciences from $162.00 to $176.00 and gave the stock a “buy” rating in a research report on Thursday. Needham & Company LLC reaffirmed a “hold” rating on shares of Neurocrine Biosciences in a research report on Friday, December 20th. Barclays lifted their price target on shares of Neurocrine Biosciences from $160.00 to $165.00 and gave the company an “overweight” rating in a research report on Monday, December 23rd. Wedbush reissued an “outperform” rating and set a $148.00 price objective on shares of Neurocrine Biosciences in a research report on Monday, December 16th. Finally, Piper Sandler reissued an “overweight” rating and issued a $160.00 price target on shares of Neurocrine Biosciences in a report on Monday, December 23rd. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Neurocrine Biosciences has a consensus rating of “Moderate Buy” and a consensus target price of $166.10.

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.