Parkman Healthcare Partners LLC Buys 52,655 Shares of Neurocrine Biosciences, Inc. $NBIX

Key Points

• Parkman Healthcare Partners LLC increased its stake in Neurocrine Biosciences, Inc. by 45.5% in Q1, owning over $18.62 million worth of shares.
• Insiders have sold a total of 186,960 shares of Neurocrine Biosciences in the last three months, amounting to nearly $24 million in value.
• Analyst ratings for Neurocrine Biosciences are positive, with eighteen analysts giving it a "Buy" rating and a consensus price target of $160.00.

Parkman Healthcare Partners LLC raised its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 45.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 168,382 shares of the company's stock after buying an additional 52,655 shares during the period. Neurocrine Biosciences comprises approximately 2.2% of Parkman Healthcare Partners LLC's holdings, making the stock its 13th largest position. Parkman Healthcare Partners LLC owned approximately 0.17% of Neurocrine Biosciences worth $18,623,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Dodge & Cox raised its stake in Neurocrine Biosciences by 83.5% during the 1st quarter. Dodge & Cox now owns 5,534,624 shares of the company's stock valued at $612,129,000 after buying an additional 2,518,199 shares during the last quarter. Wellington Management Group LLP raised its stake in Neurocrine Biosciences by 44.0% during the 1st quarter. Wellington Management Group LLP now owns 2,097,981 shares of the company's stock valued at $232,037,000 after buying an additional 640,556 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Neurocrine Biosciences by 3.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,539,601 shares of the company's stock valued at $170,281,000 after buying an additional 49,088 shares during the last quarter. Braidwell LP grew its position in shares of Neurocrine Biosciences by 32.2% during the 1st quarter. Braidwell LP now owns 1,191,925 shares of the company's stock valued at $131,827,000 after acquiring an additional 290,135 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Neurocrine Biosciences by 19.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,070,096 shares of the company's stock valued at $146,068,000 after acquiring an additional 175,879 shares during the period. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Neurocrine Biosciences Trading Up 0.3%

Shares of NBIX traded up $0.37 during trading hours on Tuesday, reaching $144.17. 569,709 shares of the stock traded hands, compared to its average volume of 743,156. Neurocrine Biosciences, Inc. has a 52-week low of $84.23 and a 52-week high of $154.61. The company's 50-day moving average price is $133.31 and its two-hundred day moving average price is $120.66. The company has a market cap of $14.30 billion, a P/E ratio of 42.65, a price-to-earnings-growth ratio of 1.04 and a beta of 0.28.

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on NBIX. Stifel Nicolaus boosted their price objective on shares of Neurocrine Biosciences from $166.00 to $174.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Guggenheim boosted their price objective on shares of Neurocrine Biosciences from $165.00 to $175.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Wedbush boosted their price objective on shares of Neurocrine Biosciences from $137.00 to $141.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. JPMorgan Chase & Co. boosted their price objective on shares of Neurocrine Biosciences from $140.00 to $145.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. Finally, Truist Financial began coverage on shares of Neurocrine Biosciences in a research report on Monday, July 21st. They set a "buy" rating and a $163.00 price objective for the company. Eighteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $160.00.

Insider Buying and Selling at Neurocrine Biosciences

In other Neurocrine Biosciences news, insider Jude Onyia sold 59,819 shares of Neurocrine Biosciences stock in a transaction on 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 in the company, valued at approximately $2,385,982.94. The trade was a 76.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ingrid Delaet sold 457 shares of Neurocrine Biosciences stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $135.00, for a total transaction of $61,695.00. Following the completion of the sale, the insider owned 4,730 shares in the company, valued at approximately $638,550. This represents a 8.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 186,960 shares of company stock worth $23,955,553. Insiders own 4.30% 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.