Neurocrine Biosciences, Inc. (NASDAQ:NBIX) CFO Matt Abernethy Sells 1,283 Shares

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) CFO Matt Abernethy sold 1,283 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $152.87, for a total value of $196,132.21. Following the transaction, the chief financial officer now owns 32,681 shares in the company, valued at approximately $4,995,944.47. This trade represents a 3.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Neurocrine Biosciences Trading Up 1.5 %

Shares of NASDAQ NBIX traded up $2.32 during midday trading on Tuesday, reaching $152.42. The company’s stock had a trading volume of 814,308 shares, compared to its average volume of 950,096. The stock has a 50 day simple moving average of $137.92 and a 200-day simple moving average of $131.51. The stock has a market capitalization of $15.43 billion, a price-to-earnings ratio of 40.86 and a beta of 0.33. Neurocrine Biosciences, Inc. has a fifty-two week low of $110.95 and a fifty-two week high of $157.98.

Institutional Investors Weigh In On Neurocrine Biosciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State Street Corp increased its position in shares of Neurocrine Biosciences by 11.7% in the third quarter. State Street Corp now owns 5,148,293 shares of the company’s stock valued at $593,186,000 after acquiring an additional 539,936 shares during the last quarter. Geode Capital Management LLC raised its holdings in Neurocrine Biosciences by 2.2% during the third quarter. Geode Capital Management LLC now owns 1,859,232 shares of the company’s stock worth $213,773,000 after acquiring an additional 39,610 shares in the last quarter. Braidwell LP raised its holdings in Neurocrine Biosciences by 20.9% during the third quarter. Braidwell LP now owns 917,674 shares of the company’s stock worth $105,734,000 after acquiring an additional 158,665 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Neurocrine Biosciences by 1.4% during the fourth quarter. Bank of New York Mellon Corp now owns 870,290 shares of the company’s stock worth $118,795,000 after acquiring an additional 12,040 shares in the last quarter. Finally, Jennison Associates LLC raised its holdings in Neurocrine Biosciences by 145.1% during the fourth quarter. Jennison Associates LLC now owns 820,694 shares of the company’s stock worth $112,025,000 after acquiring an additional 485,894 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on the company. Barclays raised their target price on Neurocrine Biosciences from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday, December 23rd. Wedbush reaffirmed an “outperform” rating and issued a $148.00 target price on shares of Neurocrine Biosciences in a research report on Monday, December 16th. Raymond James reaffirmed an “outperform” rating and issued a $155.00 target price on shares of Neurocrine Biosciences in a research report on Thursday, October 10th. 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 report on Tuesday. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Neurocrine Biosciences in a research report on Friday, December 20th. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Neurocrine Biosciences has an average rating of “Moderate Buy” and a consensus price target of $166.85.

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.