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Matt Abernethy, Chief Financial Officer of Neurocrine Biosciences Inc. (NASDAQ:NBIX), a company currently valued at $11.4 billion with strong financial health according to InvestingPro analysis, recently executed a series of transactions involving the company's common stock. According to a Form 4 filing with the Securities and Exchange Commission, Abernethy sold shares amounting to a total of $298,922.
The transactions took place on February 13, 2025, and involved two separate sales. The first sale included 1,352 shares at a weighted average price of $116.8487 per share, totaling approximately $157,979. The second sale involved 1,206 shares at a weighted average price of $116.8688 per share, amounting to roughly $140,943. These transactions occurred as the stock trades near its 52-week low of $110.95, with the share price down about 16% year-to-date.
Additionally, Abernethy acquired shares through option exercises, although these transactions did not involve any cash exchange. The acquisitions included 2,566 shares and 2,241 shares of common stock, which were added to his holdings without a purchase price.
Following these transactions, Abernethy holds a total of 35,810 shares of Neurocrine Biosciences common stock.
In other recent news, Neurocrine Biosciences has been the subject of various analysts' notes. Deutsche Bank (ETR:DBKGn) initiated coverage on the company, assigning a Hold rating and setting a $138 price target. The bank's analyst suggested that significant appreciation in Neurocrine's stock price would likely require confidence in another asset with a market opportunity comparable to Ingrezza.
UBS, on the other hand, adjusted the price target for Neurocrine Biosciences to $154 from the previous $176, while maintaining a Buy rating. The revised price target reflects a more conservative growth trajectory for Ingrezza, Neurocrine's lead product.
Guggenheim also maintained a Buy rating but lowered the price target to $163 from $165, following the company's fourth-quarter sales report, which showed Ingrezza sales slightly below consensus estimates.
H.C. Wainwright analyst Andrew Fein adjusted the price target for Neurocrine Biosciences to $185 from the previous $190 while maintaining a Buy rating. This revision follows the company's announcement that Ingrezza, its flagship product, generated revenue of $615 million, a 23% year-over-year increase, although slightly missing the consensus forecast.
These are the recent developments related to Neurocrine Biosciences.
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