Neurocrine Biosciences, Inc. (NASDAQ:NBIX)’s share price traded down 5.1% on Thursday following insider selling activity. The company traded as low as $78.57 and last traded at $78.57. 798,944 shares were traded during mid-day trading, a decline of 24% from the average session volume of 1,047,342 shares. The stock had previously closed at $82.75.
Specifically, insider Haig P. Bozigian sold 1,625 shares of the company’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $79.12, for a total transaction of $128,570.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Darin Lippoldt sold 9,900 shares of the company’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $73.05, for a total transaction of $723,195.00. The disclosure for this sale can be found here. Insiders have sold 189,707 shares of company stock valued at $14,975,715 over the last 90 days. 4.80% of the stock is currently owned by company insiders.
A number of equities analysts have weighed in on the stock. BidaskClub upgraded shares of Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, January 31st. Deutsche Bank reaffirmed a “buy” rating and set a $79.00 target price on shares of Neurocrine Biosciences in a report on Thursday, November 2nd. Needham & Company LLC upped their target price on shares of Neurocrine Biosciences to $95.00 and gave the stock a “buy” rating in a report on Tuesday, January 16th. Citigroup reaffirmed a “buy” rating and set a $79.00 target price on shares of Neurocrine Biosciences in a report on Thursday, November 2nd. Finally, Oppenheimer set a $95.00 target price on shares of Neurocrine Biosciences and gave the stock a “buy” rating in a report on Monday, January 15th. One research analyst has rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Neurocrine Biosciences has an average rating of “Buy” and an average target price of $82.31.
Several institutional investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company grew its holdings in shares of Neurocrine Biosciences by 7.8% in the second quarter. The Manufacturers Life Insurance Company now owns 2,665 shares of the company’s stock valued at $123,000 after purchasing an additional 193 shares during the period. State Board of Administration of Florida Retirement System grew its holdings in shares of Neurocrine Biosciences by 0.7% in the third quarter. State Board of Administration of Florida Retirement System now owns 120,426 shares of the company’s stock valued at $7,380,000 after purchasing an additional 810 shares during the period. Mutual of America Capital Management LLC grew its holdings in shares of Neurocrine Biosciences by 0.9% in the third quarter. Mutual of America Capital Management LLC now owns 112,862 shares of the company’s stock valued at $6,916,000 after purchasing an additional 1,036 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Neurocrine Biosciences by 25.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,904 shares of the company’s stock valued at $458,000 after purchasing an additional 1,200 shares during the period. Finally, Grandfield & Dodd LLC grew its holdings in shares of Neurocrine Biosciences by 24.1% in the third quarter. Grandfield & Dodd LLC now owns 7,610 shares of the company’s stock valued at $466,000 after purchasing an additional 1,480 shares during the period.
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About Neurocrine Biosciences
Neurocrine Biosciences, Inc is engaged in discovering and developing pharmaceuticals, in diseases with unmet medical needs, through its research and development (R&D) platform, focused on neurological and endocrine based diseases and disorders. Its three lead late-stage clinical programs are elagolix, which is a gonadotropin-releasing hormone (GnRH) antagonist for endometriosis and uterine fibroids; INGREZZA (valbenazine), which is a vesicular monoamine transporter 2 (VMAT2) inhibitor, for the treatment of movement disorders, and opicapone, which is a selective catechol-O-methyltransferase inhibitor that is an adjunct therapy to preparations of levodopa/Dihydroxyphenylalanine (DOPA) decarboxylase inhibitors for adult patients with Parkinson’s disease.
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