S&P 500 rides Apple-led tech rally higher
Neurocrine Biosciences Inc. (NASDAQ:NBIX), a $15.4 billion biopharmaceutical company that has delivered an impressive 11.7% return year-to-date, reported a stock sale by Chief Financial Officer Matt Abernethy, according to a filing with the Securities and Exchange Commission. According to InvestingPro analysis, the company maintains a "GREAT" financial health score and is currently trading slightly below its Fair Value. On January 31, Abernethy sold 1,283 shares of common stock at a weighted average price of $152.87 per share, totaling approximately $196,135. This transaction was executed under a Rule 10b5-1 trading plan adopted by Abernethy on September 1, 2022.
In addition to the sale, Abernethy acquired 2,436 shares through the vesting of restricted stock units (RSUs) on the same day. These RSUs were part of a grant awarded to him on January 31, 2022, which vests annually over a four-year period. Following these transactions, Abernethy holds 32,681 shares of Neurocrine Biosciences common stock.
In other recent news, Neurocrine Biosciences has seen notable developments in its operations and product portfolio. Stifel analysts maintained a positive outlook on Neurocrine Biosciences following the company’s amendment to its partnership with Takeda on the AMPA program, which includes the drug osavampator/NBI-845. The company now holds the full worldwide development and commercialization rights, except in Japan.
In addition, Neurocrine Biosciences sponsored a supplement in The Journal of Clinical Endocrinology & Metabolism (JCEM) focusing on the challenges and opportunities in managing classic congenital adrenal hyperplasia (CAH). The supplement features eight review articles that delve into the multifaceted challenges faced by individuals with classic CAH.
The company also retained an Outperform rating from Oppenheimer, which highlighted the recent FDA approval of Crenessity for the treatment of CAH as a pivotal event for the company. Piper Sandler reiterated an Overweight stock rating on Neurocrine Biosciences, expressing confidence in the company’s newly launched drug Crenessity and its market potential.
Lastly, Neurocrine Biosciences published a narrative review in Expert Review of Endocrinology & Metabolism discussing the promise of new non-GC therapies for treating classic CAH. The company emphasized the importance of these developments for individuals with CAH, their families, and healthcare providers.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.