Insider Selling: Neurocrine Biosciences, Inc. (NASDAQ:NBIX) CFO Sells 14,100 Shares of Stock

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

Neurocrine Biosciences Stock Up 0.7 %

Shares of NBIX stock traded up $1.08 during trading hours on Thursday, hitting $147.77. 720,170 shares of the company’s stock were exchanged, compared to its average volume of 819,548. The firm has a market cap of $14.87 billion, a P/E ratio of 40.55 and a beta of 0.37. The firm has a 50 day moving average of $141.47 and a two-hundred day moving average of $138.88. Neurocrine Biosciences, Inc. has a fifty-two week low of $103.63 and a fifty-two week high of $157.98.

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Neurocrine Biosciences by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 9,930,926 shares of the company’s stock valued at $1,369,673,000 after purchasing an additional 220,598 shares during the last quarter. Renaissance Technologies LLC raised its stake in Neurocrine Biosciences by 9.6% in the 2nd quarter. Renaissance Technologies LLC now owns 2,468,146 shares of the company’s stock valued at $339,790,000 after purchasing an additional 216,500 shares during the last quarter. AQR Capital Management LLC raised its stake in Neurocrine Biosciences by 23.0% in the 2nd quarter. AQR Capital Management LLC now owns 1,223,055 shares of the company’s stock valued at $166,959,000 after purchasing an additional 228,444 shares during the last quarter. Brown Advisory Inc. raised its stake in Neurocrine Biosciences by 2.2% in the 4th quarter. Brown Advisory Inc. now owns 1,113,413 shares of the company’s stock valued at $146,703,000 after purchasing an additional 23,831 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Neurocrine Biosciences by 1.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 934,404 shares of the company’s stock valued at $128,639,000 after purchasing an additional 13,069 shares during the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on NBIX. Robert W. Baird upped their target price on Neurocrine Biosciences from $157.00 to $180.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Wells Fargo & Company upgraded Neurocrine Biosciences from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $140.00 to $170.00 in a research report on Wednesday, April 24th. Barclays upped their target price on Neurocrine Biosciences from $169.00 to $180.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Morgan Stanley upped their target price on Neurocrine Biosciences from $160.00 to $170.00 and gave the company an “overweight” rating in a research report on Friday, July 12th. Finally, JPMorgan Chase & Co. upped their target price on Neurocrine Biosciences from $173.00 to $181.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Six equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.