Kyle Gano Sells 65,000 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Stock

On January 15th, Kyle Gano, the CEO of Neurocrine Biosciences, Inc. (NASDAQ: NBIX - Get Free Report), sold a significant amount of stock. Specifically, Gano sold 65,000 shares at an average price of $141.50. This sale totaled approximately $9,197,500. Following this transaction, Gano now holds 135,392 shares, which are valued at around $19,157,968. This sale represents a reduction of 32.44% in his total holdings.

The details of the transaction were revealed in a filing with the Securities and Exchange Commission, making the information publicly accessible.

Neurocrine Biosciences Stock Performance

Neurocrine Biosciences' shares saw a slight increase, climbing $1.34 during midday trading to reach $143.26. On this day, the company recorded a trading volume of 976,444 shares, exceeding the average volume of 952,731. The company has experienced a one-year low of $110.95 and a high of $157.98. Currently, Neurocrine Biosciences has a market capitalization of $14.51 billion, with a price-to-earnings ratio of 38.41 and a beta of 0.33. Additionally, the company's fifty-day and two-hundred-day simple moving averages are $131.49 and $131.18, respectively.

Institutional Investors’ Activity

Recently, several institutional investors have adjusted their stakes in Neurocrine Biosciences. For instance, State Street Corp increased its holdings by 11.7% in the third quarter, now owning 5,148,293 shares valued at approximately $593,186,000 after buying an additional 539,936 shares. Similarly, 1832 Asset Management L.P. raised its stake significantly by 1,370.7% in the second quarter, bringing its total to 541,200 shares worth about $74,507,000. Other notable investors like Los Angeles Capital Management LLC and AQR Capital Management LLC also boosted their positions. Overall, institutional and hedge fund investors own approximately 92.59% of the company's stock.

Wall Street Analysts’ Opinions

Analysts have provided varying opinions on Neurocrine Biosciences. Recently, Royal Bank of Canada reduced its price target from $136.00 to $133.00 while maintaining a "sector perform" rating. Conversely, Wedbush reaffirmed an "outperform" rating with a price target of $148.00. Meanwhile, UBS Group raised its price target from $142.00 to $162.00, tagging it with a "buy" rating. Barclays also increased its target from $160.00 to $165.00, highlighting an "overweight" rating. All in all, five analysts consider the stock a hold, eighteen analysts recommend a buy, and one suggests a strong buy. The average price target across analysts stands at about $164.81, indicating a consensus rating of "Moderate Buy."

About Neurocrine Biosciences

Neurocrine Biosciences, Inc. specializes in the discovery, development, and marketing of pharmaceuticals aimed at treating neurological, neuroendocrine, and neuropsychiatric disorders both in the United States and internationally. The company's product lineup includes INGREZZA for tardive dyskinesia and chorea related to Huntington's disease, ALKINDI for adrenal insufficiency, and various treatments for conditions such as endometriosis and uterine fibroids.

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