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Kevin Charles Gorman, a director at Neurocrine Biosciences Inc. (NASDAQ:NBIX), executed several stock transactions recently, according to a filing with the Securities and Exchange Commission. The transactions come as the stock trades near its 52-week low of $110.95, having declined over 22% in the past week. On February 8, Gorman acquired 4,318 shares of common stock through the exercise of restricted stock units. This transaction, however, did not involve any cash outlay as the shares were acquired at no cost.
Subsequently, on February 10, Gorman sold 2,274 shares at an average price of $118.3673 per share, amounting to a total of $269,167. The sales were conducted under a Rule 10b5-1 trading plan, which was adopted in June 2021, and restricts any amendments or modifications post-adoption.
Following these transactions, Gorman holds 519,074 shares directly, with a significant portion of these shares held in the Gorman and Blais Family Trust.
In other recent news, Neurocrine Biosciences has been the focus of several analyst reports. Deutsche Bank (ETR:DBKGn) initiated coverage on the company’s stock, assigning a Hold rating and a price target of $138. The bank’s analyst noted that Neurocrine’s stock appears to be fairly valued, considering its Ingrezza treatment for TD/HD chorea and Crensessity for CAH.
Meanwhile, UBS cut its price target for Neurocrine Biosciences to $154 and maintained a Buy rating. The revised price target reflects a more conservative growth trajectory for Ingrezza, Neurocrine’s lead product. Guggenheim also adjusted its price target to $163, maintaining a Buy rating, following the company’s fourth-quarter sales report, which showed Ingrezza sales slightly below consensus estimates.
H.C. Wainwright reduced its price target to $185 but maintained a Buy rating. This adjustment followed the announcement that Ingrezza, the company’s flagship product, generated revenue of $615 million, slightly missing the consensus forecast. Despite lower-than-expected full-year 2025 Ingrezza revenue guidance, H.C. Wainwright anticipates further growth opportunities due to Ingrezza’s low market penetration and its favorable risk-benefit profile compared to competitors.
These are the latest developments for Neurocrine Biosciences, a company that continues to attract attention from investors and analysts alike.
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