Pallas Capital Advisors LLC Boosts Stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Pallas Capital Advisors LLC lifted its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 108.1% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,448 shares of the company’s stock after buying an additional 3,350 shares during the period. Pallas Capital Advisors LLC’s holdings in Neurocrine Biosciences were worth $745,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. RFP Financial Group LLC increased its holdings in Neurocrine Biosciences by 346.5% during the first quarter. RFP Financial Group LLC now owns 192 shares of the company’s stock worth $26,000 after buying an additional 149 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Neurocrine Biosciences during the 2nd quarter worth approximately $28,000. Innealta Capital LLC bought a new stake in shares of Neurocrine Biosciences in the 2nd quarter worth approximately $30,000. New Covenant Trust Company N.A. purchased a new position in Neurocrine Biosciences in the first quarter valued at approximately $32,000. Finally, EdgeRock Capital LLC bought a new position in Neurocrine Biosciences during the second quarter valued at $35,000. 92.59% of the stock is owned by institutional investors.

Neurocrine Biosciences Stock Performance

NASDAQ NBIX opened at $124.33 on Thursday. Neurocrine Biosciences, Inc. has a 52-week low of $103.63 and a 52-week high of $157.98. The company has a fifty day moving average of $121.02 and a 200-day moving average of $133.65. The company has a market capitalization of $12.55 billion, a P/E ratio of 37.56 and a beta of 0.36.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.52). The firm had revenue of $590.20 million during the quarter, compared to analysts’ expectations of $545.98 million. Neurocrine Biosciences had a return on equity of 14.86% and a net margin of 16.00%. Neurocrine Biosciences’s revenue for the quarter was up 30.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.95 earnings per share. As a group, analysts forecast that Neurocrine Biosciences, Inc. will post 4.37 EPS for the current fiscal year.

Insiders Place Their Bets

In other Neurocrine Biosciences news, insider Ingrid Delaet sold 273 shares of Neurocrine Biosciences stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $147.70, for a total transaction of $40,322.10. Following the transaction, the insider now directly owns 6,607 shares of the company’s stock, valued at approximately $975,853.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Gary A. Lyons sold 11,570 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $150.43, for a total value of $1,740,475.10. Following the transaction, the director now owns 119,047 shares in the company, valued at approximately $17,908,240.21. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ingrid Delaet sold 273 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $147.70, for a total value of $40,322.10. Following the sale, the insider now owns 6,607 shares of the company’s stock, valued at $975,853.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,336 shares of company stock valued at $7,063,652 over the last quarter. 4.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NBIX. Jefferies Financial Group upped their price target on Neurocrine Biosciences from $177.00 to $189.00 and gave the company a “buy” rating in a research report on Monday, August 19th. Needham & Company LLC reiterated a “hold” rating on shares of Neurocrine Biosciences in a research note on Tuesday. Robert W. Baird upped their price target on shares of Neurocrine Biosciences from $157.00 to $180.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. raised their price objective on shares of Neurocrine Biosciences from $173.00 to $181.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Finally, Piper Sandler raised shares of Neurocrine Biosciences from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $131.00 to $159.00 in a report on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $163.91.

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.