Neurocrine Biosciences chief commercial officer sells $251,426 in stock

Eric Benevich, the Chief Commercial Officer of Neurocrine Biosciences Inc (NASDAQ:NBIX), recently disclosed significant stock transactions. According to a Form 4 filing with the Securities and Exchange Commission, Benevich sold a total of 2,154 shares of Neurocrine Biosciences' common stock on February 13, 2025. The shares were sold in two separate transactions, with sale prices averaging $116.7421 and $116.7091 per share, amounting to approximately $251,426. The $11.4 billion market cap company maintains a "GREAT" financial health score according to InvestingPro analysis, with liquid assets exceeding short-term obligations.

In addition to the sales, Benevich also executed stock option exercises, acquiring a total of 4,044 shares of common stock at no cost. These transactions were part of a pre-established Rule 10b5-1 trading plan, which allows insiders to set up a predetermined schedule for selling company stock to avoid potential conflicts of interest. While the stock trades near its 52-week low, InvestingPro subscribers can access 10+ additional exclusive insights about NBIX's valuation and growth prospects.

Following these transactions, Benevich now holds 44,689 shares of Neurocrine Biosciences. The company's stock, listed on NASDAQ under the ticker NBIX, continues to be closely watched by investors and analysts alike, with price targets ranging from $138 to $192, suggesting potential upside from current levels.

In other recent news, Neurocrine Biosciences has been a focal point for several major financial institutions. Deutsche Bank (ETR:DBKGn) initiated coverage on the biotech firm, assigning a Hold rating with a $138 price target. The bank's analysis suggests that Neurocrine's stock is fairly valued, given its current market capitalization and the prospects of its treatments, Ingrezza and Crensessity.

Conversely, UBS maintains a Buy rating on Neurocrine's stock, albeit with a reduced price target of $154, down from $176. This adjustment 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, following the company's fourth-quarter sales report which showed Ingrezza sales slightly below consensus estimates. Meanwhile, H.C. Wainwright adjusted the price target for Neurocrine to $185 from the previous $190, maintaining a Buy rating on the stock.

These recent developments follow Neurocrine's fourth-quarter and full-year financial results, which missed analyst expectations. Nonetheless, the company is advancing its clinical pipeline and expects to initiate pivotal trials for their '845 program in Major Depressive Disorder and '568 program in schizophrenia in the first half of 2025.

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