Pallas Capital Advisors LLC Buys New Shares in Neurocrine Biosciences, Inc. $NBIX

Pallas Capital Advisors LLC bought a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 9,265 shares of the company’s stock, valued at approximately $1,561,000.

Other large investors have also bought and sold shares of the company. AQR Capital Management LLC raised its holdings in shares of Neurocrine Biosciences by 18.0% during the fourth quarter. AQR Capital Management LLC now owns 3,271,706 shares of the company’s stock valued at $462,652,000 after purchasing an additional 498,058 shares during the period. Renaissance Technologies LLC grew its stake in shares of Neurocrine Biosciences by 8.0% in the 1st quarter. Renaissance Technologies LLC now owns 2,418,897 shares of the company’s stock valued at $318,665,000 after buying an additional 180,100 shares during the period. Geode Capital Management LLC grew its stake in shares of Neurocrine Biosciences by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 2,059,282 shares of the company’s stock valued at $291,342,000 after buying an additional 34,457 shares during the period. Los Angeles Capital Management LLC increased its position in Neurocrine Biosciences by 7.4% in the 4th quarter. Los Angeles Capital Management LLC now owns 1,291,278 shares of the company’s stock valued at $178,248,000 after buying an additional 88,522 shares in the last quarter. Finally, Northern Trust Corp increased its position in Neurocrine Biosciences by 31.9% in the 4th quarter. Northern Trust Corp now owns 1,221,184 shares of the company’s stock valued at $173,201,000 after buying an additional 295,470 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Weiss Ratings lowered Neurocrine Biosciences from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. BMO Capital Markets boosted their price objective on Neurocrine Biosciences from $144.00 to $170.00 and gave the company a “market perform” rating in a report on Monday, July 13th. Wells Fargo & Company upped their target price on Neurocrine Biosciences from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, July 17th. Royal Bank Of Canada increased their target price on Neurocrine Biosciences from $195.00 to $198.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Finally, Morgan Stanley reduced their price target on shares of Neurocrine Biosciences from $196.00 to $182.00 and set an “equal weight” rating for the company in a research report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Neurocrine Biosciences currently has a consensus rating of “Moderate Buy” and an average price target of $200.86.

Insider Buying and Selling

In related news, Director Stephen A. Sherwin sold 25,000 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $165.32, for a total transaction of $4,133,000.00. Following the completion of the sale, the director directly owned 15,860 shares of the company’s stock, valued at approximately $2,621,975.20. This trade represents a 61.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jude Onyia sold 11,000 shares of Neurocrine Biosciences stock in a transaction on Monday, June 1st. The stock was sold at an average price of $160.25, for a total value of $1,762,750.00. Following the sale, the insider owned 25,846 shares in the company, valued at $4,141,821.50. This trade represents a 29.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 131,524 shares of company stock valued at $21,668,924 over the last quarter. Corporate insiders own 4.60% of the company’s stock.

Neurocrine Biosciences Stock Performance

Neurocrine Biosciences stock opened at $154.49 on Tuesday. Neurocrine Biosciences, Inc. has a fifty-two week low of $122.14 and a fifty-two week high of $186.12. The firm’s 50-day simple moving average is $167.81 and its 200 day simple moving average is $148.47. The stock has a market cap of $15.70 billion, a PE ratio of 22.65, a price-to-earnings-growth ratio of 0.67 and a beta of 0.39.

Neurocrine Biosciences (NASDAQ:NBIX) last posted its quarterly earnings data on Friday, July 31st. The company reported $2.85 EPS for the quarter, beating the consensus estimate of $1.65 by $1.20. Neurocrine Biosciences had a net margin of 20.91% and a return on equity of 22.43%. The firm had revenue of $959.00 million during the quarter, compared to analyst estimates of $891.16 million. During the same quarter last year, the business posted $1.65 EPS. The company’s revenue for the quarter was up 39.5% on a year-over-year basis. As a group, analysts predict that Neurocrine Biosciences, Inc. will post 7.77 EPS for the current fiscal year.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences (NASDAQ: NBIX) is a biopharmaceutical company based in San Diego, California, focused on developing treatments for neurological, endocrine and neuropsychiatric disorders. Since its founding in 1992, the company has pursued a research‐driven strategy aimed at addressing unmet medical needs in movement disorders, reproductive health and central nervous system conditions. Neurocrine’s operations encompass drug discovery, clinical development and commercialization activities.

The company’s lead marketed product, Ingrezza™ (valbenazine), is indicated for the treatment of tardive dyskinesia, a movement disorder associated with long-term antipsychotic use.