SAN DIEGO, CA – Neurocrine (NASDAQ:NBIX) Biosciences Inc (NASDAQ:NBIX) director Gary A. Lyons has recently executed significant stock transactions, according to the latest SEC filings. On May 14, Lyons sold 12,500 shares of the company's common stock at an average price of $135.63, totaling approximately $1.7 million.
The transactions were part of a prearranged trading plan under Rule 10b5-1, which allows insiders to set up a predetermined plan to sell stocks at a specific time. This plan was adopted on February 13, 2024. The shares were sold in multiple transactions with prices ranging from $134.78 to $137.12 per share. Lyons has agreed to provide detailed information about the number of shares sold at each price point upon request.
In addition to the sale, Lyons also acquired 12,500 shares of common stock on the same day through the exercise of options at a price of $42.76 per share, which amounted to a total transaction value of $534,500. It's noteworthy that the options were granted back in May 2015 and vested over the following 12 months. These options are set to expire on May 28, 2025.
Following these transactions, Lyons' direct ownership in the company has adjusted to 116,947 shares of common stock. It should also be mentioned that an administrative oversight was corrected, which resulted in a reported decrease of 76,750 shares from what was previously stated as beneficially owned.
Neurocrine Biosciences, with its headquarters in San Diego, specializes in developing treatments for neurological and endocrine-related diseases and disorders. The company's stock performance and insider transactions are closely watched by investors, as they can provide insights into the company's financial health and the confidence that executives have in the company's future prospects.
Investors and stakeholders can access the full details of these transactions through the SEC's EDGAR database, which provides public filings and other financial information for publicly traded companies.
InvestingPro Insights
Neurocrine Biosciences Inc (NASDAQ:NBIX) has been demonstrating robust financial health as indicated by recent metrics. The company's market capitalization stands strong at $14.28 billion, reflecting substantial investor confidence. With a Price/Earnings (P/E) ratio of 37.59, the company trades at a significant earnings multiple, which is a testament to the market's high expectations for future growth. Adjusting for the last twelve months as of Q1 2024, the P/E ratio slightly moderates to 33.8, still indicating a premium valuation. This aligns with the InvestingPro Tip that NBIX is trading at a high earnings multiple.
On the growth front, revenue has seen an impressive uptick, with a 23.99% increase over the last twelve months as of Q1 2024. The company's gross profit margin stands at an enviable 68.54%, showcasing the efficiency of its operations. Another key metric, the Price/Book ratio, is at 5.99 for the same period, which may suggest that the stock is valued richly compared to the company's net assets. This is particularly relevant as it echoes the InvestingPro Tip that NBIX is trading at a high Price/Book multiple.
Investors looking for further insights and additional InvestingPro Tips can find them on the InvestingPro platform. There are currently 15 more tips available for NBIX, which can be accessed by visiting https://www.investing.com/pro/NBIX. For those interested in a deeper dive into the company's financials and future prospects, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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