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SAN DIEGO—Stephen A. Sherwin, a director at Neurocrine Biosciences Inc. (NASDAQ:NBIX), a $11.4 billion biopharmaceutical company with strong financials and a healthy current ratio of 3.4, sold 13,831 shares of the company's common stock on February 13, generating proceeds of approximately $1.6 million. The shares were sold at a weighted average price of $116.69, with individual transaction prices ranging from $115.79 to $118.33. Following this transaction, Sherwin retains ownership of 10,673 shares.
The sale was executed as part of a pre-established Rule 10b5-1 trading plan, which Sherwin adopted on November 7, 2024. This plan allows insiders to set up a predetermined schedule for selling shares, providing an affirmative defense against potential accusations of insider trading. Under company policy, Sherwin is restricted from amending or modifying the plan after its adoption. According to InvestingPro analysis, the stock is currently trading near its 52-week low, with analysts seeing significant upside potential. Subscribers can access detailed insider trading patterns and 10+ additional ProTips for deeper insights.
In other recent news, Neurocrine Biosciences has been a focal point for various analyst firms. Deutsche Bank (ETR:DBKGn) initiated coverage on the stock, giving it a Hold rating and a price target of $138. The bank's analysts noted that the company's market capitalization of around $12 billion seems fairly valued in light of its Ingrezza treatment for TD/HD chorea and Crensessity for CAH.
UBS, on the other hand, maintained a Buy rating but reduced its price target to $154 from $176, citing a more conservative growth trajectory for Ingrezza. Similarly, Guggenheim also maintained a Buy rating but lowered its price target to $163 after the company reported slightly below consensus estimates for Ingrezza sales in the fourth quarter of 2024.
H.C. Wainwright also maintained a Buy rating but adjusted its price target to $185 from $190, following the company's announcement of lower-than-expected full-year 2025 Ingrezza revenue guidance. The firm expressed optimism for the newly launched drug, Crenessity, which reported sales of $2 million in the last two weeks of December.
These are among the recent developments concerning Neurocrine Biosciences. The company's financial results for the fourth quarter and full year ended December 31, 2024, showed a growth in Ingrezza net product sales but fell short of analyst expectations. Despite these challenges, analysts from various firms maintain confidence in the company's long-term potential.
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