Matt Abernethy Sells 2,558 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Stock

Neurocrine Biosciences, Inc. (NASDAQ:NBIX) CFO Matt Abernethy sold 2,558 shares of the company’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $116.86, for a total value of $298,927.88. Following the completion of the sale, the chief financial officer now owns 34,775 shares of the company’s stock, valued at approximately $4,063,806.50. The trade was a 6.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Matt Abernethy also recently made the following trade(s):

• On Friday, January 31st, Matt Abernethy sold 1,283 shares of Neurocrine Biosciences stock. The stock was sold at an average price of $152.87, for a total value of $196,132.21.

Neurocrine Biosciences Stock Performance

Shares of NBIX stock opened at $115.02 on Monday. Neurocrine Biosciences, Inc. has a 52-week low of $110.95 and a 52-week high of $157.98. The firm has a market capitalization of $11.65 billion, a P/E ratio of 34.96 and a beta of 0.33. The stock has a 50 day moving average price of $137.83 and a 200 day moving average price of $130.46.

Neurocrine Biosciences (NASDAQ:NBIX) last released its quarterly earnings data on Thursday, February 6th. The company reported $1.00 EPS for the quarter, missing the consensus estimate of $1.62 by ($0.62). Neurocrine Biosciences had a return on equity of 13.45% and a net margin of 14.49%. As a group, sell-side analysts forecast that Neurocrine Biosciences, Inc. will post 6.53 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on NBIX. Morgan Stanley increased 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, February 4th. Bank of America cut their target price on Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Guggenheim cut their target price on Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating for the company in a research report on Monday, February 10th. Piper Sandler reiterated an “overweight” rating and set a $160.00 target price on shares of Neurocrine Biosciences in a research report on Monday, December 23rd. Finally, UBS Group increased their price target on Neurocrine Biosciences from $162.00 to $176.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Neurocrine Biosciences currently has a consensus rating of “Moderate Buy” and a consensus price target of $166.90.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Golden State Wealth Management LLC purchased a new position in shares of Neurocrine Biosciences in the 4th quarter valued at $25,000. Huntington National Bank lifted its position in Neurocrine Biosciences by 73.5% during the 4th quarter. Huntington National Bank now owns 229 shares of the company’s stock worth $31,000 after acquiring an additional 97 shares during the period. Brooklyn Investment Group lifted its position in Neurocrine Biosciences by 99.1% during the 4th quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock worth $32,000 after acquiring an additional 115 shares during the period. GeoWealth Management LLC lifted its position in Neurocrine Biosciences by 65.4% during the 4th quarter. GeoWealth Management LLC now owns 258 shares of the company’s stock worth $35,000 after acquiring an additional 102 shares during the period. Finally, Blue Trust Inc. lifted its holdings in shares of Neurocrine Biosciences by 171.9% in the 3rd quarter. Blue Trust Inc. now owns 348 shares of the company’s stock valued at $40,000 after buying an additional 220 shares during the period. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

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.