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SAN DIEGO—Kevin Charles Gorman, a director at Neurocrine Biosciences Inc. (NASDAQ:NBIX), sold a total of 5,844 shares of the company's common stock on February 13, 2025, according to a recent SEC filing. The sales occurred at a weighted average price of approximately $116.69 per share, amounting to a total transaction value of $681,913. The transaction comes as the stock trades near its 52-week low of $110.95, with InvestingPro data showing a 21.6% decline over the past six months.
The transactions were conducted under a Rule 10b5-1 trading plan, which allows company insiders to set up a predetermined plan to sell stocks. This ensures that the trades are not influenced by any material non-public information.
Following these sales, Gorman holds 524,209 shares directly. The sales were part of a larger series of transactions, including the acquisition of shares through the exercise of restricted stock units, but these did not involve any cash exchange.
Investors often monitor insider transactions closely, as they can provide insights into the executive's views on the company's future prospects. However, sales under a 10b5-1 plan are typically pre-arranged and do not necessarily indicate the insider's current sentiment about the company's stock. For a comprehensive analysis of NBIX's valuation and 10+ additional ProTips, investors can access the detailed Pro Research Report available on InvestingPro.
In other recent news, Neurocrine Biosciences has been the focus of several analysts' reports. Deutsche Bank (ETR:DBKGn) initiated coverage on the company's stock with a Hold rating and a price target of $138, citing the current market capitalization of approximately $12 billion and the potential of its Ingrezza and Crensessity treatments.
UBS, meanwhile, reduced its price target for Neurocrine Biosciences to $154 from $176 but maintained a Buy rating, reflecting a more conservative growth trajectory for Ingrezza, the company's lead product. Guggenheim also maintained a Buy rating but lowered the price target to $163 from $165 following the company's fourth-quarter sales report, which showed Ingrezza sales slightly below consensus estimates.
H.C. Wainwright adjusted the price target for Neurocrine Biosciences to $185 from $190 while maintaining a Buy rating, following the company's announcement that Ingrezza generated revenue of $615 million, a 23% year-over-year increase. This news comes alongside the company's financial results for the fourth quarter and full year, which showed net product sales of $615 million in the fourth quarter and $2.3 billion for the full year, representing YoY growth of 23% and 26%, respectively.
These recent developments emphasize the evolving financial landscape for Neurocrine Biosciences as it continues to navigate market dynamics and investor expectations.
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