Neurocrine Biosciences, Inc. (NASDAQ:NBIX) Shares Purchased by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC boosted its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 26.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,098 shares of the company’s stock after acquiring an additional 647 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Neurocrine Biosciences were worth $447,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in NBIX. Norges Bank purchased a new stake in shares of Neurocrine Biosciences in the 4th quarter worth about $35,731,000. abrdn plc raised its position in shares of Neurocrine Biosciences by 2,503.0% during the 4th quarter. abrdn plc now owns 83,633 shares of the company’s stock worth $11,019,000 after purchasing an additional 80,420 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Neurocrine Biosciences by 18.3% in the 4th quarter. The Manufacturers Life Insurance Company now owns 116,955 shares of the company’s stock valued at $15,410,000 after buying an additional 18,070 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Neurocrine Biosciences by 3.5% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 252,565 shares of the company’s stock valued at $34,834,000 after buying an additional 8,630 shares during the last quarter. Finally, National Bank of Canada FI increased its position in Neurocrine Biosciences by 2,192.0% during the fourth quarter. National Bank of Canada FI now owns 22,966 shares of the company’s stock worth $3,025,000 after buying an additional 21,964 shares in the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Neurocrine Biosciences Stock Down 0.1 %

NASDAQ NBIX traded down $0.10 on Wednesday, hitting $149.49. The stock had a trading volume of 97,944 shares, compared to its average volume of 813,779. The company’s 50-day moving average is $142.56 and its two-hundred day moving average is $139.03. Neurocrine Biosciences, Inc. has a one year low of $103.63 and a one year high of $157.98. The stock has a market cap of $15.04 billion, a price-to-earnings ratio of 41.21 and a beta of 0.37.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its earnings results on Thursday, August 1st. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.52). The business had revenue of $590.20 million during the quarter, compared to analyst estimates of $545.98 million. Neurocrine Biosciences had a net margin of 16.00% and a return on equity of 14.86%. The firm’s revenue was up 30.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.95 earnings per share. On average, sell-side analysts anticipate that Neurocrine Biosciences, Inc. will post 4.22 earnings per share for the current year.

Insider Buying and Selling

In other Neurocrine Biosciences news, Director Stephen A. Sherwin sold 40,000 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $133.46, for a total value of $5,338,400.00. Following the completion of the sale, the director now directly owns 26,504 shares of the company’s stock, valued at approximately $3,537,223.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Stephen A. Sherwin sold 40,000 shares of Neurocrine Biosciences stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $133.46, for a total value of $5,338,400.00. Following the transaction, the director now owns 26,504 shares of the company’s stock, valued at approximately $3,537,223.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Julie Cooke sold 10,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $140.19, for a total transaction of $1,401,900.00. Following the sale, the insider now directly owns 18,202 shares of the company’s stock, valued at $2,551,738.38. The disclosure for this sale can be found here. Insiders have sold a total of 111,798 shares of company stock valued at $16,014,496 over the last quarter. Corporate insiders own 4.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Guggenheim lifted their price objective on Neurocrine Biosciences from $170.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Wedbush restated an “outperform” rating and set a $152.00 target price on shares of Neurocrine Biosciences in a research report on Wednesday, May 29th. Barclays lifted their target price on shares of Neurocrine Biosciences from $169.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. StockNews.com upgraded Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 4th. Finally, Needham & Company LLC restated a “hold” rating on shares of Neurocrine Biosciences in a report on Thursday, August 1st. Six analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $161.32.

Neurocrine Biosciences Profile

Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, neuroendocrine, and neuropsychiatric disorders in the United States and internationally. The company's products include INGREZZA for tardive dyskinesia and chorea associated with Huntington's disease; ALKINDI for adrenal insufficiency; Efmody capsules for classic congenital adrenal hyperplasia; Orilissa tablets for endometriosis; and Oriahnn capsules to treat uterine fibroids.