Insider Selling: Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Insider Sells $2,642,928.48 in Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) insider Eric Benevich sold 19,818 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $133.36, for a total transaction of $2,642,928.48. Following the completion of the transaction, the insider now directly owns 40,778 shares of the company’s stock, valued at approximately $5,438,154.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Eric Benevich also recently made the following trade(s):

• On Thursday, March 14th, Eric Benevich sold 75,000 shares of Neurocrine Biosciences stock. The shares were sold at an average price of $139.38, for a total transaction of $10,453,500.00.

Neurocrine Biosciences Price Performance

Shares of Neurocrine Biosciences stock opened at $132.00 on Friday. The stock has a market capitalization of $13.14 billion, a price-to-earnings ratio of 54.55 and a beta of 0.25. Neurocrine Biosciences, Inc. has a 12 month low of $89.04 and a 12 month high of $148.37. The firm’s fifty day simple moving average is $136.15 and its 200-day simple moving average is $126.99.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.31. The company had revenue of $515.20 million for the quarter, compared to analysts’ expectations of $518.52 million. Neurocrine Biosciences had a net margin of 13.23% and a return on equity of 12.85%. Neurocrine Biosciences’s revenue was up 25.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.88 EPS. Analysts anticipate that Neurocrine Biosciences, Inc. will post 4.84 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently issued reports on NBIX shares. JPMorgan Chase & Co. increased their price objective on Neurocrine Biosciences from $148.00 to $158.00 and gave the company an “overweight” rating in a research note on Wednesday, March 20th. Wedbush reiterated an “outperform” rating and issued a $147.00 price objective on shares of Neurocrine Biosciences in a research note on Wednesday. Barclays upped their target price on shares of Neurocrine Biosciences from $145.00 to $150.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 23rd. Cantor Fitzgerald reiterated an “overweight” rating and set a $155.00 price target on shares of Neurocrine Biosciences in a report on Wednesday, April 10th. Finally, The Goldman Sachs Group increased their price objective on shares of Neurocrine Biosciences from $134.00 to $153.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Six equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $139.67.

Institutional Trading of Neurocrine Biosciences

Several hedge funds have recently modified their holdings of NBIX. BlackRock Inc. boosted its position in shares of Neurocrine Biosciences by 6.6% during the 1st quarter. BlackRock Inc. now owns 13,466,650 shares of the company’s stock worth $1,363,094,000 after purchasing an additional 838,997 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Neurocrine Biosciences by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 9,710,328 shares of the company’s stock worth $1,279,433,000 after buying an additional 150,485 shares in the last quarter. State Street Corp grew its position in Neurocrine Biosciences by 4.1% during the second quarter. State Street Corp now owns 3,956,499 shares of the company’s stock worth $373,098,000 after buying an additional 156,584 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Neurocrine Biosciences by 25.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,476,949 shares of the company’s stock valued at $194,603,000 after buying an additional 297,299 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Neurocrine Biosciences by 3.4% during the 1st quarter. Geode Capital Management LLC now owns 1,435,737 shares of the company’s stock valued at $145,127,000 after acquiring an additional 47,042 shares during the period. 92.59% of the stock is owned by institutional investors and hedge funds.

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.