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SAN DIEGO—Gano Kyle, the Chief Executive Officer of Neurocrine Biosciences Inc. (NASDAQ:NBIX), a $15.4 billion biopharmaceutical company currently rated as having GREAT financial health according to InvestingPro, recently sold shares of the company, according to a filing with the Securities and Exchange Commission. The transaction, which took place on January 31, involved the sale of 1,541 shares at a weighted average price of $152.87 per share, totaling $235,577. These shares were sold in multiple transactions, with prices ranging from $151.94 to $153.59. The stock is trading near its 52-week high of $157.98, with analysts maintaining a bullish outlook and setting price targets up to $192 per share.
The sale was conducted under a pre-established Rule 10b5-1 trading plan, which was adopted by Kyle on September 14, 2022. The company’s policy restricts any modifications to this plan after its adoption. Want deeper insights into NBIX’s valuation and growth prospects? InvestingPro subscribers have access to 14+ additional ProTips and comprehensive financial analysis.
In addition to the sale, the filing also reported that Kyle acquired 2,927 shares through the vesting of Restricted Stock Units (RSUs). These RSUs were part of an award granted on January 31, 2022, which vests annually through January 31, 2026. Following these transactions, Kyle now directly owns 136,778 shares of Neurocrine Biosciences, a company that has demonstrated strong performance with a 25.7% revenue growth in the last twelve months.
In other recent news, Neurocrine Biosciences has been the focus of several positive developments. Stifel analysts maintained their Buy rating on Neurocrine Biosciences, following the company’s announcement of an altered partnership with Takeda on the AMPA program. This move grants Neurocrine full worldwide development and commercialization rights, excluding Japan, for the drug osavampator/NBI-845.
Oppenheimer also reiterated its Outperform rating on Neurocrine Biosciences, highlighting the recent FDA approval of Crenessity for the treatment of congenital adrenal hyperplasia (CAH) as a pivotal event. The company has developed a robust launch plan for Crenessity, aiming to capitalize on the drug’s benefits and economic value.
Furthermore, Neurocrine Biosciences has sponsored a supplement in The Journal of Clinical Endocrinology & Metabolism focusing on classic CAH, which features eight review articles exploring the challenges faced by individuals with this condition. Piper Sandler maintained its Overweight stock rating on Neurocrine Biosciences, with a price target of $160.00, expressing confidence in the company’s newly launched drug Crenessity and its potential wide application among adult patients with classic CAH.
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