Neurocrine Biosciences officer sells $168,849 in stock

David W. Boyer, the Chief Corporate Affairs Officer at Neurocrine Biosciences Inc. (NASDAQ:NBIX), a biopharmaceutical company currently valued at $15.4 billion, recently sold shares of the company’s common stock, according to a filing with the Securities and Exchange Commission. According to InvestingPro data, the company maintains excellent financial health with strong growth metrics, as evidenced by its 25.7% revenue growth over the last twelve months. On January 31, Boyer sold 1,104 shares, generating approximately $168,849, with a weighted average sales price of $152.94 per share. This transaction was part of a pre-arranged trading plan under Rule 10b5-1, which Boyer adopted on September 1, 2022. The sale comes as the stock trades near its 52-week high, with analysts maintaining a bullish outlook. Investors seeking deeper insights can access comprehensive analysis and 14 additional ProTips through InvestingPro’s detailed research report.

In addition to the sale, Boyer acquired 2,096 shares through the vesting of Restricted Stock Units (RSUs) on the same day. These RSUs were originally granted on January 31, 2022, and are set to vest annually through January 31, 2026. Following these transactions, Boyer holds 1,369 shares of Neurocrine Biosciences common stock. With the company’s next earnings report due on February 6, investors should note that analysts expect continued profitability, with consensus estimates showing positive growth expectations.

In other recent news, Neurocrine Biosciences has been in the spotlight due to several noteworthy developments. The company has altered its partnership with Takeda on the AMPA program, securing full worldwide development and commercialization rights, except in Japan, according to Stifel analysts. Additionally, Neurocrine has sponsored a supplement in The Journal of Clinical Endocrinology & Metabolism focusing on classic congenital adrenal hyperplasia (CAH), a rare genetic condition.

The company received FDA approval for Crenessity, a treatment for CAH, which has been highlighted as a pivotal event by Oppenheimer analysts. The firm also noted Neurocrine’s robust pipeline, with plans to initiate Phase 3 trials for NBI-568, an M4 agonist, and osavampator, an AMPA PAM, in the first half of 2025. Piper Sandler analysts have expressed confidence in Neurocrine, reiterating an Overweight stock rating and highlighting the promising feedback on Crenessity.

The company has also published a narrative review in Expert Review of Endocrinology & Metabolism, discussing the challenges of treating CAH with traditional glucocorticoids and the potential of new non-glucocorticoid therapies. These recent developments underscore Neurocrine Biosciences’ commitment to advancing treatments in the neurology and endocrinology markets.

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