Neurocrine Biosciences chief legal officer sells $191,133 in stock

Darin Lippoldt, the Chief Legal Officer of Neurocrine Biosciences Inc. (NASDAQ:NBIX), recently sold shares of the company’s common stock, according to a filing with the Securities and Exchange Commission. On January 31, Lippoldt sold 1,250 shares at a weighted average price of $152.91, resulting in a total transaction value of approximately $191,133. The transaction comes as the $15.4 billion biotech company trades near its 52-week high, with analyst price targets ranging from $140 to $192. InvestingPro analysis indicates the stock is currently undervalued based on their proprietary Fair Value calculations. The shares were sold as part of a pre-established trading plan under Rule 10b5-1, which was adopted on September 1, 2022.

Following this transaction, Lippoldt holds 40,863 shares of the company directly. The sale was executed in multiple transactions, with prices ranging from $151.94 to $153.57 per share. Lippoldt has made the details of these transactions available to the issuer and will provide further information to any security holder or SEC staff upon request.

In other recent news, Neurocrine Biosciences has experienced several significant developments. The company has altered its partnership with Takeda on the AMPA program, now holding full worldwide development and commercialization rights, except in Japan, as noted by Stifel analysts. Furthermore, Neurocrine Biosciences has sponsored a supplement in The Journal of Clinical Endocrinology & Metabolism (JCEM) focusing on classic congenital adrenal hyperplasia (CAH), a rare genetic condition.

Oppenheimer reiterated its Outperform rating on Neurocrine Biosciences, highlighting the recent FDA approval of Crenessity for the treatment of CAH. The company also plans to initiate Phase 3 trials for NBI-568, an M4 agonist, and osavampator, an AMPA PAM, in the first half of 2025.

In addition, Neurocrine Biosciences has shared insights on the challenges of treating classic CAH with traditional glucocorticoids (GCs) and the promise of new non-GC therapies. Lastly, Piper Sandler reiterated an Overweight stock rating on Neurocrine Biosciences, indicating a positive outlook based on the promising feedback regarding Neurocrine’s newly launched drug, Crenessity.

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