Kyle Gano Sells 65,000 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) CEO Kyle Gano sold 65,000 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $141.50, for a total value of $9,197,500.00. Following the completion of the sale, the chief executive officer now owns 135,392 shares in the company, valued at approximately $19,157,968. The trade was a 32.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Neurocrine Biosciences Price Performance

Shares of NASDAQ NBIX traded up $1.34 during midday trading on Friday, hitting $143.26. The company’s stock had a trading volume of 976,444 shares, compared to its average volume of 952,731. Neurocrine Biosciences, Inc. has a 1 year low of $110.95 and a 1 year high of $157.98. The firm has a market capitalization of $14.51 billion, a price-to-earnings ratio of 38.41 and a beta of 0.33. The business’s fifty day simple moving average is $131.49 and its two-hundred day simple moving average is $131.18.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. State Street Corp raised its stake in shares of Neurocrine Biosciences by 11.7% during the third quarter. State Street Corp now owns 5,148,293 shares of the company’s stock worth $593,186,000 after purchasing an additional 539,936 shares during the last quarter. 1832 Asset Management L.P. increased its stake in Neurocrine Biosciences by 1,370.7% in the 2nd quarter. 1832 Asset Management L.P. now owns 541,200 shares of the company’s stock valued at $74,507,000 after purchasing an additional 504,400 shares in the last quarter. Los Angeles Capital Management LLC raised its holdings in Neurocrine Biosciences by 639.6% during the third quarter. Los Angeles Capital Management LLC now owns 420,748 shares of the company’s stock worth $48,479,000 after purchasing an additional 363,863 shares during the last quarter. AQR Capital Management LLC boosted its position in Neurocrine Biosciences by 23.0% during the second quarter. AQR Capital Management LLC now owns 1,223,055 shares of the company’s stock worth $166,959,000 after purchasing an additional 228,444 shares in the last quarter. Finally, Braidwell LP grew its holdings in Neurocrine Biosciences by 20.9% in the third quarter. Braidwell LP now owns 917,674 shares of the company’s stock valued at $105,734,000 after purchasing an additional 158,665 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on NBIX shares. Royal Bank of Canada lowered their price objective on Neurocrine Biosciences from $136.00 to $133.00 and set a “sector perform” rating for the company in a research report on Friday, October 4th. Wedbush reaffirmed an “outperform” rating and issued a $148.00 price target on shares of Neurocrine Biosciences in a report on Monday, December 16th. UBS Group boosted their price target on Neurocrine Biosciences from $142.00 to $162.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Barclays boosted their price target on Neurocrine Biosciences from $160.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, December 23rd. Finally, StockNews.com lowered shares of Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st. Five equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $164.81.

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.