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), conducted a significant stock transaction by selling 65,000 shares of company stock. The shares were sold at an average price of $141.50, resulting in a total transaction value of $9,197,500. Following this sale, Gano retains ownership of 135,392 shares in the company, which are currently valued at approximately $19,157,968. This transaction represents a 32.44% decrease in his ownership position. Details of the sale were made public through a filing with the Securities and Exchange Commission (SEC).

In midday trading following the announcement, shares of Neurocrine Biosciences showed positive movement, rising by $1.34 to reach $143.26. The trading volume for the day amounted to 976,444 shares, surpassing the average daily volume of 952,731. Over the past year, the stock has experienced fluctuations, reaching a low of $110.95 and a high of $157.98. The company's current market capitalization stands at approximately $14.51 billion, with a price-to-earnings ratio of 38.41 and a beta of 0.33. The fifty-day simple moving average for the stock is $131.49, while the two-hundred-day moving average is $131.18.

Investor Activity

Recent months have seen several institutional investors adjusting their holdings in Neurocrine Biosciences. For instance, State Street Corp increased its stake by 11.7% in the third quarter, owning 5,148,293 shares worth about $593,186,000 after adding 539,936 shares. Another significant investor, 1832 Asset Management L.P., boosted its position by an incredible 1,370.7% during the second quarter, acquiring 541,200 shares valued at $74,507,000. Additionally, Los Angeles Capital Management LLC raised its holdings by 639.6%, owning 420,748 shares worth $48,479,000 after purchasing an additional 363,863 shares. AQR Capital Management LLC and Braidwell LP also increased their positions by 23.0% and 20.9%, respectively, during the past quarters.

Analyst Perspectives

Analysts have mixed reviews on NBIX shares, with some rating the stock as "buy" while others remain cautious. For example, Royal Bank of Canada recently lowered its price target from $136.00 to $133.00, maintaining a "sector perform" rating. In contrast, Wedbush reaffirmed an "outperform" rating with a target of $148.00. UBS Group increased its price target to $162.00, while Barclays set a new target at $165.00 after their evaluations. As a result of the varying perspectives, a total of five analysts rate Neuocrine shares as a hold, eighteen as a buy, and one as a strong buy, reflecting a general consensus rating of "Moderate Buy" and an average price target of $164.81.

Company Overview

Neurocrine Biosciences, Inc. focuses on discovering, developing, and marketing pharmaceuticals targeted at neurological, neuroendocrine, and neuropsychiatric disorders both domestically and internationally. Some of their key products include INGREZZA, used for tardive dyskinesia and chorea associated with Huntington's disease; ALKINDI, which addresses adrenal insufficiency; Efmody capsules for classic congenital adrenal hyperplasia; Orilissa for endometriosis; and Oriahnn, aimed at treating uterine fibroids.

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