Neurocrine Biosciences chief legal officer sells $107,727 in stock

SAN DIEGO—Darin Lippoldt, Chief Legal Officer of Neurocrine Biosciences Inc. (NASDAQ:NBIX), a $11.7 billion biopharmaceutical company currently trading near its 52-week low, recently executed a series of stock transactions, according to a filing with the Securities and Exchange Commission. InvestingPro analysis suggests the stock may be undervalued based on its proprietary Fair Value model. On February 10, Lippoldt sold 911 shares of the company’s common stock at a weighted average price of $118.25 per share, totaling $107,727 in value.

The sale was part of a pre-established Rule 10b5-1 trading plan, which Lippoldt adopted in June 2021, and was executed by a broker. The shares were sold in multiple transactions at prices ranging from $116.07 to $123.53.

Earlier, on February 8, Lippoldt acquired 1,727 shares of common stock through the vesting of Restricted Stock Units (RSUs) at no cost, increasing his total holdings to 42,590 shares before the subsequent sale.

These transactions reflect Lippoldt’s continued involvement with the company, navigating both acquisitions through RSUs and strategic sales under trading plans.

In other recent news, Neurocrine Biosciences has been the subject 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 noted considerable potential in Neurocrine’s Ingrezza treatment and Crensessity, despite a cautious stance on the stock’s future appreciation.

UBS analyst Ashwani Verma adjusted the price target for Neurocrine Biosciences to $154 from the previous $176, maintaining a Buy rating. The adjustment followed reduced expectations for Ingrezza, Neurocrine’s lead product. Despite this, Verma expressed confidence in the stock’s potential for future gains and the anticipated launch of Crenessity.

Guggenheim maintained a Buy rating on Neurocrine Biosciences but lowered the price target to $163 from $165. The decision came after the company’s fourth-quarter sales report showed Ingrezza sales slightly below consensus estimates. Despite these challenges, management expressed confidence in the long-term potential of their product Crenessity.

H.C. Wainwright analyst Andrew Fein adjusted the price target for Neurocrine Biosciences to $185 from the previous $190 while maintaining a Buy rating on the stock. The revision follows the company’s announcement that Ingrezza, its flagship product, generated revenue of $615 million. Despite a conservative outlook, H.C. Wainwright anticipates further growth opportunities due to Ingrezza’s low market penetration.

These developments highlight the recent events surrounding Neurocrine Biosciences, with a focus on earnings and revenue results, as well as analyst upgrades or downgrades.

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