Neurocrine Biosciences chief commercial officer sells $115,940 in stock

Eric Benevich, the Chief Commercial Officer of Neurocrine Biosciences Inc. (NASDAQ:NBIX), executed a series of stock transactions, as reported in a recent SEC filing. On February 10, Benevich sold 980 shares of the company’s common stock for a total value of approximately $115,940. The shares were sold at a weighted average price of $118.31, with individual sale prices ranging from $116.07 to $123.53. The transaction comes as the stock trades near its 52-week low of $110.95, with InvestingPro data showing the company currently maintains a GREAT financial health score.

Additionally, on February 8, Benevich acquired 1,860 shares through the exercise of restricted stock units, which vested as part of a pre-existing compensation agreement. These shares were acquired at no cost to Benevich, bringing his total holdings to 42,799 shares following these transactions. With a market capitalization of $11.69 billion and strong liquidity metrics showing current assets exceeding short-term obligations by 3.4x, the company demonstrates solid financial footing.

The sale was carried out under a Rule 10b5-1 trading plan, which was adopted by Benevich on June 10, 2021. This type of trading plan allows company insiders to set up a predetermined schedule for selling stocks, helping to avoid any potential conflicts of interest. For deeper insights into insider trading patterns and comprehensive analysis, InvestingPro subscribers can access detailed research reports covering 1,400+ US stocks, including NBIX.

In other recent news, Neurocrine Biosciences has been the focus of several analyst reports. Deutsche Bank (ETR:DBKGn) initiated coverage on Neurocrine Biosciences, assigning a Hold rating and setting a price target of $138. The bank’s analyst suggested that for a significant appreciation in Neurocrine’s stock price, investors would need to gain confidence in another asset with a market opportunity comparable to Ingrezza.

UBS analyst Ashwani Verma adjusted the price target for Neurocrine Biosciences to $154, while continuing to recommend the stock as a Buy. Despite reduced expectations for Ingrezza, Verma expressed confidence in the stock’s potential for future gains. Guggenheim maintained a Buy rating on Neurocrine Biosciences but lowered the price target to $163. The adjustment follows 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 while maintaining a Buy rating on the stock. Despite challenges, H.C. Wainwright anticipates further growth opportunities due to Ingrezza’s low market penetration and its favorable risk-benefit profile when compared to competitors. These recent developments reflect analyst views on the company’s performance and future prospects.

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