Pallas Capital Advisors LLC Has $1.18 Million Stock Holdings in Neurocrine Biosciences, Inc. $NBIX

Key Points

• Pallas Capital Advisors LLC increased its stake in Neurocrine Biosciences by 261.3% during the second quarter, now owning 9,393 shares valued at approximately $1.18 million.
• Insider trading activity included Director Kevin Charles Gorman selling over 106,000 shares for about $13.44 million, representing a 17.12% decrease in his ownership.
• Despite a previous year EPS of $1.63, Neurocrine Biosciences recently reported $1.06 EPS for the last quarter, surpassing analysts’ expectations and showing a 16.5% year-over-year revenue growth.

Pallas Capital Advisors LLC increased its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 261.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,393 shares of the company's stock after purchasing an additional 6,793 shares during the period. Pallas Capital Advisors LLC's holdings in Neurocrine Biosciences were worth $1,181,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Y Intercept Hong Kong Ltd bought a new stake in Neurocrine Biosciences in the 1st quarter valued at $1,460,000. Golden State Wealth Management LLC boosted its position in shares of Neurocrine Biosciences by 116.9% during the 1st quarter. Golden State Wealth Management LLC now owns 397 shares of the company's stock valued at $44,000 after acquiring an additional 214 shares in the last quarter. Financiere des Professionnels Fonds d investissement inc. bought a new stake in Neurocrine Biosciences in the second quarter valued at about $696,000. Fifth Third Bancorp increased its stake in Neurocrine Biosciences by 31.7% in the first quarter. Fifth Third Bancorp now owns 1,056 shares of the company's stock valued at $117,000 after acquiring an additional 254 shares during the period. Finally, Integrated Wealth Concepts LLC raised its position in Neurocrine Biosciences by 167.2% in the first quarter. Integrated Wealth Concepts LLC now owns 7,233 shares of the company's stock worth $800,000 after purchasing an additional 4,526 shares in the last quarter. 92.59% of the stock is owned by institutional investors.

Neurocrine Biosciences Stock Up 1.0%

NBIX stock traded up $1.39 during midday trading on Monday, reaching $146.62. 700,617 shares of the company's stock traded hands, compared to its average volume of 780,732. The company has a 50-day simple moving average of $135.49 and a two-hundred day simple moving average of $122.43. Neurocrine Biosciences, Inc. has a 1-year low of $84.23 and a 1-year high of $154.61. The company has a market cap of $14.54 billion, a price-to-earnings ratio of 43.38, a PEG ratio of 1.05 and a beta of 0.28.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $1.06 EPS for the quarter, topping analysts' consensus estimates of $0.98 by $0.08. The company had revenue of $687.50 million for the quarter, compared to analyst estimates of $653.09 million. Neurocrine Biosciences had a return on equity of 13.22% and a net margin of 13.88%.The business's revenue was up 16.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.63 earnings per share. Equities research analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Insider Buying and Selling

In other Neurocrine Biosciences news, insider Ingrid Delaet sold 457 shares of the stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $135.00, for a total transaction of $61,695.00. Following the sale, the insider owned 4,730 shares of the company's stock, valued at $638,550. This represents a 8.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jude Onyia sold 59,819 shares of the firm's stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $130.46, for a total transaction of $7,803,986.74. Following the completion of the sale, the insider owned 18,289 shares of the company's stock, valued at $2,385,982.94. The trade was a 76.58% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 186,960 shares of company stock worth $23,955,553 in the last 90 days. Corporate insiders own 4.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Piper Sandler lifted 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. The Goldman Sachs Group assumed coverage on Neurocrine Biosciences in a research report on Thursday, July 10th. They set a "buy" rating and a $182.00 target price for the company. 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. Truist Financial began coverage on Neurocrine Biosciences in a research report on Monday, July 21st. They issued a "buy" rating and a $163.00 price target on the stock. Finally, Guggenheim increased their price objective on Neurocrine Biosciences from $165.00 to $175.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Seventeen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $161.89.

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.