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

Several other institutional investors and hedge funds have also made changes to their positions in NBIX. WPG Advisers LLC bought a new stake in shares of Neurocrine Biosciences in the 1st quarter worth about $32,000. Smallwood Wealth Investment Management LLC acquired a new position in Neurocrine Biosciences during the 1st quarter worth $34,000. SVB Wealth LLC bought a new position in shares of Neurocrine Biosciences in the first quarter valued at approximately $35,000. Golden State Wealth Management LLC increased 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 purchasing an additional 214 shares during the period. Finally, Versant Capital Management Inc boosted its position in shares of Neurocrine Biosciences by 404.9% during the 1st quarter. Versant Capital Management Inc now owns 409 shares of the company's stock valued at $45,000 after purchasing an additional 328 shares in the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Neurocrine Biosciences Stock Performance

NBIX traded up $2.36 during midday trading on Thursday, reaching $143.61. 674,646 shares of the company were exchanged, compared to its average volume of 1,223,117. The stock has a market capitalization of $14.24 billion, a P/E ratio of 42.49, a PEG ratio of 1.04 and a beta of 0.28. The stock's 50-day simple moving average is $133.55 and its 200 day simple moving average is $120.80. Neurocrine Biosciences, Inc. has a one year low of $84.23 and a one year high of $154.61.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.98 by $0.08. The firm 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 company's revenue was up 16.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.63 earnings per share. On average, research analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Jude Onyia sold 59,819 shares of the stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $130.46, for a total transaction of $7,803,986.74. Following the completion of the transaction, the insider directly owned 18,289 shares of the company's stock, valued at approximately $2,385,982.94. This represents a 76.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ingrid Delaet sold 457 shares of the 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 of the company's stock, valued at approximately $638,550. This represents a 8.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 186,960 shares of company stock valued at $23,955,553 in the last three months. 4.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on NBIX shares. Wall Street Zen upgraded shares of Neurocrine Biosciences from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 2nd. Truist Financial assumed coverage on Neurocrine Biosciences in a research note on Monday, July 21st. They issued a "buy" rating and a $163.00 price objective on the stock. Morgan Stanley raised their target price on Neurocrine Biosciences from $158.00 to $163.00 and gave the company an "overweight" rating in a report on Friday, September 5th. JPMorgan Chase & Co. boosted their price objective on shares of Neurocrine Biosciences from $140.00 to $145.00 and gave the stock a "neutral" rating in a report on Thursday, July 31st. Finally, UBS Group increased their price target on shares of Neurocrine Biosciences from $152.00 to $174.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Eighteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, Neurocrine Biosciences has a consensus rating of "Moderate Buy" and an average target price of $160.00.

Neurocrine Biosciences Company 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.