In recent trading activity, Neurocrine (NASDAQ:NBIX) Biosciences Inc. (NASDAQ:NBIX) Director Richard F. Pops sold 2,100 shares of the company's common stock, as revealed in a regulatory filing with the Securities and Exchange Commission. The shares were sold at a weighted average price of $141.84, resulting in a total transaction value exceeding $297,000.
According to the filing, the transactions took place on May 17, 2024, and the shares were sold in multiple transactions at prices ranging from $140.80 to $142.71. This sale was conducted under a Rule 10b5-1 trading plan, which was adopted by Pops on November 21, 2023. Such plans allow company insiders to set up a predetermined schedule for selling stocks at a time when they are not in possession of material non-public information.
The filing also noted that, subsequent to these sales, Pops still owns 31,611 shares of Neurocrine Biosciences, which indicates a continued investment in the company's future. Neurocrine Biosciences, based in San Diego, California, specializes in neurological and endocrine-related diseases and disorders.
Investors often monitor insider sales as they provide insights into how executives view the company's stock value and potential future performance. However, it is important to consider that selling decisions can be influenced by a variety of factors, including personal financial planning and diversification strategies.
For more detailed information, Neurocrine Biosciences and the SEC can provide the specific numbers of shares sold at each price within the range upon request.
InvestingPro Insights
As Neurocrine Biosciences Inc. (NASDAQ:NBIX) makes headlines with insider trading activity, investors are closely examining the company's performance metrics and market position. According to InvestingPro data, Neurocrine Biosciences boasts a robust market capitalization of $14.14 billion, underlining its significant presence in the biotech sector. The company's P/E ratio stands at 37.48, reflecting investor expectations of future earnings growth, which is further supported by a PEG ratio of just 0.08, indicating potential undervaluation based on earnings growth projections.
InvestingPro Tips highlight that Neurocrine Biosciences is expected to see net income growth this year. This aligns with the company's solid revenue growth of nearly 24% over the last twelve months as of Q1 2024. Additionally, the company's stock has experienced a high return over the last year, with a 50.6% price total return, and it is trading near its 52-week high at 94.73% of the peak price. These insights suggest a strong market confidence in the company's performance and future outlook.
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