SAN DIEGO, CA – Neurocrine (NASDAQ:NBIX) Biosciences Inc (NASDAQ:NBIX) Chief Legal Officer Darin Lippoldt has recently engaged in transactions involving the company's common stock, according to the latest SEC filings. On August 1, 2024, Lippoldt sold 2,996 shares of Neurocrine Biosciences at prices ranging from $150.07 to $154.50, with a total value exceeding $461,000.
The sales were conducted under a Rule 10b5-1 trading plan, which Lippoldt had adopted on August 24, 2023. Rule 10b5-1 trading plans allow company insiders to establish pre-arranged plans to buy or sell company stock when they are not in possession of material non-public information. The transactions are carried out through a broker, and the executive is restricted from amending the plan after its adoption.
In addition to the sales, Lippoldt also acquired 2,996 shares of common stock at a price of $79.02 each, totaling approximately $236,743. This transaction was indicated as an acquisition in the company's filings. Following these transactions, Lippoldt's direct ownership in the company's common stock has been adjusted to 39,740 shares.
Neurocrine Biosciences, headquartered in San Diego, is a biopharmaceutical company focused on developing treatments for neurological and endocrine-related diseases. The company's stock is traded on the NASDAQ under the ticker symbol NBIX.
Investors and followers of Neurocrine Biosciences may be interested in these transactions as they reflect the activities of the company's insiders. It's worth noting that insider transactions can provide insights into how the company's top executives view the stock's value and future prospects.
For further details on the transactions, including the specific number of shares sold at each price point within the range, Lippoldt has agreed to provide the information upon request to the issuer, security holders, or the SEC staff.
In other recent news, Neurocrine Biosciences showcased a strong performance in the second quarter of 2024, achieving over 30% year-over-year growth with their drug INGREZZA. The company has also raised its 2024 sales guidance to between $2.25 billion and $2.3 billion. Awaiting FDA approval for Crinecerfont, a drug for congenital adrenal hyperplasia, Neurocrine Biosciences anticipates approval by the end of the year. The company is also making strategic investments in expanding its sales force and advancing its clinical pipeline in neuroscience. Despite not providing peak revenue guidance for INGREZZA, the company expressed confidence in the drug's continued investment. These are among the recent developments for Neurocrine Biosciences, a company that remains committed to improving patient outcomes and creating value for its shareholders.
InvestingPro Insights
Neurocrine Biosciences Inc (NASDAQ:NBIX) has been showing promising financial metrics, reflecting its growth trajectory and potential value for investors. According to recent data from InvestingPro, Neurocrine Biosciences boasts a market capitalization of $14.87 billion, underscoring its substantial presence in the biopharmaceutical sector. The company's revenue has grown significantly, with a reported increase of 26.69% in the last twelve months as of Q2 2024, and an impressive quarterly revenue growth of 30.37% in Q2 2024.
The company's earnings strength is also highlighted by a solid gross profit margin of 68.55% in the same period, indicating efficient management and a strong market position. Neurocrine Biosciences' operating income margin stands at 25.7%, reflecting its profitability and operational effectiveness. Furthermore, the company's return on assets of 11.46% illustrates its ability to generate earnings from its assets efficiently.
An InvestingPro Tip worth noting is that analysts have revised their earnings upwards for the upcoming period, signaling confidence in the company's future performance. Additionally, Neurocrine Biosciences is reported to be trading at a P/E ratio of 43.48, which, when adjusted for near-term earnings growth, presents a more attractive ratio of 31.17, suggesting that the stock might be trading at a low price relative to its earnings growth potential.
For investors looking for more in-depth analysis, there are 16 additional InvestingPro Tips available for Neurocrine Biosciences at https://www.investing.com/pro/NBIX, providing a comprehensive look at the company's financial health and stock performance.
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