Ingrid Delaet, the Chief Regulatory Officer of Neurocrine (NASDAQ:NBIX) Biosciences Inc. (NASDAQ:NBIX), has recently sold shares of the company's stock, according to a new SEC filing. On March 21, Delaet sold 5,000 shares at prices ranging from $145.00 to $145.24, totaling approximately $725,320.
The transactions were carried out under a Rule 10b5-1 trading plan, which had been previously adopted on November 29, 2023. This plan allows corporate insiders to set up a predetermined schedule for buying and selling shares to avoid accusations of insider trading. As per company policy, Delaet is restricted from amending or modifying the trading plan after its adoption.
On the same date, Delaet also acquired 5,000 shares of Neurocrine Biosciences stock at a price of $103.52 per share, amounting to a total value of $517,600. These shares were acquired through the exercise of options as part of a compensation package, where a portion of the options vests monthly over a period.
Following these transactions, Delaet's direct ownership in the company has changed, with the latest SEC filing reflecting a balance of 7,507 shares owned after the sale, and 27,049 shares remaining in derivative form, namely non-qualified stock options, which are exercisable at $103.52 per share and will expire on February 13, 2033.
Neurocrine Biosciences Inc., based in San Diego, California, operates within the biotechnology sector, focusing on developing treatments for neurological and endocrine-related diseases and disorders.
Investors and followers of Neurocrine Biosciences may find this information valuable as it provides insight into the actions of key executives within the company and may influence their investment decisions.
InvestingPro Insights
As Neurocrine Biosciences Inc. (NASDAQ:NBIX) continues to navigate the biotechnology sector, the company's financial health and stock performance remain key factors for investors. With a market capitalization of approximately $13.96 billion, Neurocrine Biosciences is a significant player in its industry. The company's P/E ratio, a measure of its current share price relative to its per-share earnings, stands at 54.97, which adjusts to 40.93 when considering the last twelve months as of Q4 2023. This indicates a high valuation of the company's earnings at present.
InvestingPro data also reveals a robust revenue growth of 26.76% over the last twelve months as of Q4 2023, reflecting the company's ability to increase its sales and market presence. The company's gross profit margin during the same period is an impressive 67.96%, showcasing its efficiency in controlling the costs associated with its goods sold.
Investors looking to understand the stock's recent performance will note that Neurocrine Biosciences is trading near its 52-week high, with the price reaching 94.53% of this peak. This could signal investor confidence in the company's prospects or reflect the broader market trends. For those interested in the company's future earnings potential, one of the InvestingPro Tips highlights that net income is expected to grow this year, which may be a positive indicator for future profitability.
Additionally, according to more InvestingPro Tips, the stock generally trades with low price volatility, suggesting that it may offer a more stable investment compared to others in the biotech sector. Moreover, for investors seeking to delve deeper into the company's financial nuances, it's noteworthy that 14 additional tips are listed on InvestingPro, which could provide further insights into Neurocrine Biosciences' financial health and stock performance.
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