Pallas Capital Advisors LLC Has $288,000 Holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Pallas Capital Advisors LLC lowered its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 66.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,600 shares of the company's stock after selling 5,073 shares during the period. Pallas Capital Advisors LLC's holdings in Neurocrine Biosciences were worth $288,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in NBIX. Dodge & Cox grew its position in Neurocrine Biosciences by 134.2% in the 4th quarter. Dodge & Cox now owns 3,016,425 shares of the company's stock valued at $411,742,000 after buying an additional 1,728,605 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Neurocrine Biosciences in the 4th quarter worth approximately $115,193,000. Wellington Management Group LLP boosted its holdings in shares of Neurocrine Biosciences by 102.9% in the fourth quarter. Wellington Management Group LLP now owns 1,457,425 shares of the company's stock valued at $198,939,000 after acquiring an additional 739,199 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in shares of Neurocrine Biosciences by 2,759.4% during the fourth quarter. Thrivent Financial for Lutherans now owns 737,772 shares of the company's stock valued at $100,705,000 after acquiring an additional 711,970 shares during the period. Finally, Orbimed Advisors LLC grew its holdings in Neurocrine Biosciences by 210.4% during the fourth quarter. Orbimed Advisors LLC now owns 938,120 shares of the company's stock worth $128,053,000 after acquiring an additional 635,900 shares during the period. Institutional investors and hedge funds own 92.59% of the company's stock.

Neurocrine Biosciences Price Performance

Shares of Neurocrine Biosciences stock traded up $1.13 during midday trading on Monday, hitting $125.52. 282,111 shares of the company were exchanged, compared to its average volume of 1,396,006. The firm has a 50 day simple moving average of $113.13 and a 200-day simple moving average of $121.84. The firm has a market cap of $12.42 billion, a P/E ratio of 38.13, a PEG ratio of 0.77 and a beta of 0.24. Neurocrine Biosciences, Inc. has a 52 week low of $84.23 and a 52 week high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.62). The business had revenue of $572.60 million for the quarter, compared to the consensus estimate of $587.06 million. Neurocrine Biosciences had a return on equity of 13.38% and a net margin of 14.49%. Neurocrine Biosciences's revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.20 EPS. Equities research analysts expect that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Neurocrine Biosciences declared that its board has authorized a stock repurchase plan on Friday, February 21st that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 4.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its stock is undervalued.

Insider Activity at Neurocrine Biosciences

In other news, Director Kevin Charles Gorman sold 9,613 shares of Neurocrine Biosciences stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $120.38, for a total transaction of $1,157,212.94. Following the completion of the sale, the director now owns 514,596 shares in the company, valued at $61,947,066.48. The trade was a 1.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director William H. Rastetter sold 30,000 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $110.20, for a total transaction of $3,306,000.00. Following the completion of the transaction, the director now owns 37,491 shares in the company, valued at $4,131,508.20. This represents a 44.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.80% of the stock is owned by company insiders.

Analyst Ratings Changes

NBIX has been the subject of several recent research reports. Guggenheim increased their target price on shares of Neurocrine Biosciences from $155.00 to $165.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th. Morgan Stanley reissued an "overweight" rating and set a $150.00 price objective (down from $185.00) on shares of Neurocrine Biosciences in a research note on Friday, March 7th. Piper Sandler reaffirmed an "overweight" rating and set a $154.00 target price (down from $160.00) on shares of Neurocrine Biosciences in a research report on Tuesday, May 6th. UBS Group upped their target price on Neurocrine Biosciences from $137.00 to $152.00 and gave the company a "buy" rating in a report on Tuesday, May 6th. Finally, BMO Capital Markets lifted their price target on Neurocrine Biosciences from $96.00 to $115.00 and gave the stock a "market perform" rating in a research note on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $162.00.

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.