Persistent Asset Partners Ltd Purchases 3,560 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Key Points

• Persistent Asset Partners Ltd increased its stake in Neurocrine Biosciences by 33.1%, owning 14,304 shares valued at approximately $1,582,000 as of the most recent SEC filing.
• Neurocrine Biosciences reported earnings of $1.06 EPS for the last quarter, exceeding expectations and achieving a revenue of $687.50 million.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Neurocrine Biosciences, with an average price target of $160.90, indicating positive growth expectations.

Persistent Asset Partners Ltd grew its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 33.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,304 shares of the company's stock after acquiring an additional 3,560 shares during the quarter. Neurocrine Biosciences accounts for 1.3% of Persistent Asset Partners Ltd's holdings, making the stock its 23rd biggest position. Persistent Asset Partners Ltd's holdings in Neurocrine Biosciences were worth $1,582,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. GeoWealth Management LLC boosted its position in Neurocrine Biosciences by 65.4% during the 4th quarter. GeoWealth Management LLC now owns 258 shares of the company's stock worth $35,000 after acquiring an additional 102 shares during the last quarter. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Neurocrine Biosciences during the first quarter worth $34,000. Golden State Wealth Management LLC lifted its holdings in shares of Neurocrine Biosciences by 116.9% during the first quarter. Golden State Wealth Management LLC now owns 397 shares of the company's stock worth $44,000 after buying an additional 214 shares in the last quarter. Versant Capital Management Inc increased its position in shares of Neurocrine Biosciences by 404.9% in the first quarter. Versant Capital Management Inc now owns 409 shares of the company's stock worth $45,000 after purchasing an additional 328 shares during the period. Finally, Harbor Capital Advisors Inc. bought a new position in shares of Neurocrine Biosciences in the first quarter worth $48,000. 92.59% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on NBIX shares. Stifel Nicolaus lifted their target price on Neurocrine Biosciences from $166.00 to $174.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Wedbush boosted their price target on Neurocrine Biosciences from $137.00 to $141.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Guggenheim boosted their price objective on Neurocrine Biosciences from $165.00 to $175.00 and gave the company a "buy" rating in a report on Friday, August 1st. Piper Sandler boosted their price objective on Neurocrine Biosciences from $154.00 to $175.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Finally, Truist Financial assumed coverage on Neurocrine Biosciences in a report on Monday, July 21st. They set a "buy" rating and a $163.00 price target for the company. Three investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $160.90.

Neurocrine Biosciences Trading Up 1.2%

NASDAQ NBIX traded up $1.59 on Friday, hitting $132.90. The company's stock had a trading volume of 558,515 shares, compared to its average volume of 1,076,537. Neurocrine Biosciences, Inc. has a 52-week low of $84.23 and a 52-week high of $154.87. The company's 50-day simple moving average is $129.21 and its 200 day simple moving average is $119.83. The firm has a market cap of $13.18 billion, a P/E ratio of 39.32, a PEG ratio of 0.95 and a beta of 0.25.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $1.06 EPS for the quarter, beating analysts' consensus estimates of $0.98 by $0.08. The company had revenue of $687.50 million during the quarter, compared to analysts' expectations of $653.09 million. Neurocrine Biosciences had a return on equity of 13.22% and a net margin of 13.88%. The firm's revenue for the quarter was up 16.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.63 EPS. On average, research analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Insiders Place Their Bets

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 106,322 shares of the business's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $126.41, for a total transaction of $13,440,164.02. Following the completion of the sale, the director owned 514,596 shares of the company's stock, valued at approximately $65,050,080.36. The trade was a 17.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jude Onyia sold 59,819 shares of the business's stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $130.46, for a total value of $7,803,986.74. Following the sale, the insider directly owned 18,289 shares of the company's stock, valued at $2,385,982.94. This represents a 76.58% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 196,573 shares of company stock valued at $25,112,766. Corporate insiders own 4.80% of the company's stock.

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.