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SAN DIEGO—Kevin Charles Gorman, a director at Neurocrine Biosciences Inc. (NASDAQ:NBIX), recently sold 9,613 shares of the company’s common stock. The shares were sold on May 27 at a weighted average price of $120.38, resulting in a total transaction value of approximately $1.16 million. According to InvestingPro data, while this insider sale occurs, management has been actively buying back shares, and the company maintains strong financial health with a current ratio of 3.13.
Gorman executed the sale as part of a pre-established Rule 10b5-1 trading plan, which was adopted in February 2025. Following the sale, Gorman holds 514,596 shares through the Gorman and Blais Family Trust, where he retains voting and investment power. InvestingPro analysis shows 8 analysts have revised their earnings upwards for the upcoming period, with the company expected to achieve a 14% revenue growth in FY2025.
The shares were sold in multiple transactions, with prices ranging from $119.62 to $120.87. Gorman has provided detailed information on the individual transaction prices to the issuer and will make it available to shareholders or the SEC upon request. The stock currently trades near $123.65, with technical indicators suggesting overbought conditions. Discover more insights and 8 additional ProTips for NBIX on InvestingPro.
In other recent news, Neurocrine Biosciences has reported positive results from a Phase 2 clinical trial for its investigational drug, NBI-1117568, which demonstrated significant improvements in schizophrenia symptoms. The company is moving forward with a Phase 3 registrational program to further evaluate the drug’s efficacy and safety. Additionally, Neurocrine presented findings from a Phase 3 study showing that its treatment, CRENESSITY, sustained reductions in glucocorticoid doses and improved clinical outcomes for pediatric patients with classic congenital adrenal hyperplasia over a year-long period. In another development, a Phase 4 study revealed that patients with tardive dyskinesia experienced quality of life improvements after treatment with INGREZZA.
Analyst firms have also weighed in on Neurocrine’s prospects. Stifel reiterated its Buy rating with a $166 price target, citing insights from discussions with the company’s CEO about future prospects and ongoing research. Cantor Fitzgerald maintained an Overweight rating and a $170 price target, although it adjusted its financial model, reflecting a slight increase in revenue estimates for Ingrezza and Crenessity. Both firms express confidence in Neurocrine’s potential, despite some uncertainties about long-term growth contributors. These developments highlight Neurocrine’s active engagement in advancing its treatment pipeline and maintaining investor interest.
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