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SAN DIEGO—Ingrid Delaet, Chief Regulatory Officer at Neurocrine Biosciences Inc (NASDAQ:NBIX), reported selling shares of the company worth approximately $171,673, according to a recent SEC filing. The transactions occurred on February 13, 2025, as part of a pre-established trading plan. The sale comes as the stock trades near its 52-week low of $110.95, with technical indicators from InvestingPro suggesting oversold conditions.
Delaet sold 716 shares at a weighted average price of $116.69, totaling about $83,549. Additionally, she sold another 755 shares at a weighted average price of $116.72, amounting to approximately $88,124. These sales were executed under a Rule 10b5-1 trading plan, which allows company insiders to set up a predetermined schedule for selling stocks. According to InvestingPro analysis, the company maintains strong financial health with a "GREAT" overall score.
Following these transactions, Delaet's direct ownership in Neurocrine Biosciences stands at 4,730 shares. The trading plans, adopted in March 2023 and June 2024, restrict any amendments or modifications post-adoption, ensuring transparency and compliance with regulatory guidelines.
Neurocrine Biosciences, a prominent player in the life sciences sector, continues to focus on developing treatments for neurological and endocrine-related diseases. The company's stock has been actively traded on the NASDAQ under the ticker NBIX.
In other recent news, Neurocrine Biosciences faced several target price adjustments following its fourth-quarter sales report. Deutsche Bank (ETR:DBKGn) assigned a Hold rating on the stock with a price target of $138, citing the company's current market capitalization and the performance of its treatments, Ingrezza and Crensessity. Meanwhile, UBS maintained a Buy rating but reduced its target price to $154, reflecting a more conservative growth trajectory for Ingrezza. Guggenheim also maintained a Buy rating but lowered its target to $163 in light of Ingrezza sales falling slightly below estimates. H.C. Wainwright, however, set its price target at $185, maintaining a Buy rating despite Ingrezza's slightly missed revenue forecast.
These recent developments come after Neurocrine Biosciences reported approximately $615 million in Ingrezza sales for the fourth quarter of 2024, which was about 1% lower than the market consensus. The company also missed earnings expectations, with non-GAAP EPS at $1.69 compared to the Street's estimate of $2.02. Despite these challenges, Neurocrine Biosciences expressed confidence in the long-term potential of Crenessity and its ongoing clinical pipeline initiatives.
Analysts from different firms have expressed varying views on the company's future prospects. While some remain cautious, others see potential for future gains, especially with the anticipated launch of Crenessity and the advancement of other treatments in the pipeline. However, all agree that the company's future performance will largely depend on the success of its current and upcoming products.
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