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 business’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $116.86, for a total transaction of $298,927.88. Following the completion of the sale, the chief financial officer now directly owns 34,775 shares of the company’s stock, valued at $4,063,806.50. This represents a 6.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

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

Neurocrine Biosciences Stock Performance

Shares of NASDAQ NBIX opened at $115.02 on Friday. Neurocrine Biosciences, Inc. has a 52-week low of $110.95 and a 52-week high of $157.98. The firm has a 50 day moving average price of $137.83 and a two-hundred day moving average price of $130.54. The stock has a market cap of $11.65 billion, a P/E ratio of 34.96 and a beta of 0.33.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings results on Thursday, February 6th. The company reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.62 by ($0.62). Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.45%. Analysts predict that Neurocrine Biosciences, Inc. will post 6.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Neurocrine Biosciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. OneDigital Investment Advisors LLC increased its position in Neurocrine Biosciences by 2.1% in the 4th quarter. OneDigital Investment Advisors LLC now owns 4,215 shares of the company’s stock valued at $575,000 after acquiring an additional 87 shares during the period. HighPoint Advisor Group LLC boosted its stake in shares of Neurocrine Biosciences by 4.1% in the 4th quarter. HighPoint Advisor Group LLC now owns 2,446 shares of the company’s stock valued at $334,000 after purchasing an additional 96 shares during the last quarter. Huntington National Bank boosted its stake in shares of Neurocrine Biosciences by 73.5% in the 4th quarter. Huntington National Bank now owns 229 shares of the company’s stock valued at $31,000 after purchasing an additional 97 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Neurocrine Biosciences by 0.4% in the 4th quarter. Louisiana State Employees Retirement System now owns 28,100 shares of the company’s stock valued at $3,836,000 after purchasing an additional 100 shares during the last quarter. Finally, Utah Retirement Systems boosted its stake in shares of Neurocrine Biosciences by 0.6% in the 4th quarter. Utah Retirement Systems now owns 16,583 shares of the company’s stock valued at $2,264,000 after purchasing an additional 100 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on NBIX shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Neurocrine Biosciences in a report on Tuesday, February 11th. They issued a “hold” rating and a $138.00 price objective for the company. UBS Group boosted their target price on shares of Neurocrine Biosciences from $162.00 to $176.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Canaccord Genuity Group dropped their target price on shares of Neurocrine Biosciences from $172.00 to $163.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Guggenheim dropped their target price on shares of Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating for the company in a research report on Monday, February 10th. Finally, HC Wainwright dropped their target price on shares of Neurocrine Biosciences from $190.00 to $185.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $166.90.

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.