Neurocrine Biosciences (NBIX) Trading Down 5.1% on Insider Selling

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.

The company has a market capitalization of $6,950.00, a price-to-earnings ratio of -35.39, a PEG ratio of 13.67 and a beta of 0.26. The company has a debt-to-equity ratio of 1.05, a current ratio of 14.38 and a quick ratio of 14.37.

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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