Penn Capital Management Company LLC Purchases Shares of 10,600 Neurocrine Biosciences, Inc. $NBIX

Penn Capital Management Company LLC acquired a new position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 10,600 shares of the company’s stock, valued at approximately $1,807,000.

A number of other institutional investors also recently modified their holdings of NBIX. Bank of America Corp DE increased its position in Neurocrine Biosciences by 10.6% in the first quarter. Bank of America Corp DE now owns 583,827 shares of the company’s stock worth $76,913,000 after purchasing an additional 55,723 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in Neurocrine Biosciences during the 4th quarter valued at about $1,866,000. Wesbanco Bank Inc. boosted its stake in shares of Neurocrine Biosciences by 88.9% in the 4th quarter. Wesbanco Bank Inc. now owns 17,000 shares of the company’s stock valued at $2,411,000 after purchasing an additional 8,000 shares during the last quarter. SEB Asset Management AB bought a new position in shares of Neurocrine Biosciences in the 1st quarter valued at about $10,483,000. Finally, ABN AMRO Bank N.V. acquired a new stake in shares of Neurocrine Biosciences during the 2nd quarter worth approximately $2,510,000. Institutional investors own 92.59% of the company’s stock.

Neurocrine Biosciences Stock Performance

Shares of NASDAQ:NBIX opened at $154.06 on Friday. Neurocrine Biosciences, Inc. has a 52-week low of $122.14 and a 52-week high of $186.12. The company has a market capitalization of $15.66 billion, a P/E ratio of 22.59, a price-to-earnings-growth ratio of 0.72 and a beta of 0.39. The company has a 50-day simple moving average of $166.77 and a 200 day simple moving average of $149.43.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings results on Friday, July 31st. The company reported $2.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $1.20. The firm had revenue of $959.00 million for the quarter, compared to the consensus estimate of $891.16 million. Neurocrine Biosciences had a return on equity of 22.43% and a net margin of 20.91%.The business’s revenue was up 39.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.65 earnings per share. As a group, equities analysts forecast that Neurocrine Biosciences, Inc. will post 7.25 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NBIX. Wall Street Zen downgraded Neurocrine Biosciences from a “buy” rating to a “hold” rating in a research note on Sunday, August 9th. Royal Bank Of Canada increased their price target on Neurocrine Biosciences from $195.00 to $198.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Truist Financial raised their price target on Neurocrine Biosciences from $200.00 to $213.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. JPMorgan Chase & Co. lifted their price objective on Neurocrine Biosciences from $177.00 to $185.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Finally, Sanford C. Bernstein started coverage on Neurocrine Biosciences in a research report on Friday, May 22nd. They issued an “outperform” rating and a $221.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $200.86.

Insider Buying and Selling

In other news, insider Jude Onyia sold 11,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $160.25, for a total transaction of $1,762,750.00. Following the completion of the sale, the insider owned 25,846 shares in the company, valued at approximately $4,141,821.50. This trade represents a 29.85% decrease in their position. The transaction was disclosed in a 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 Julie Cooke sold 36,937 shares of Neurocrine Biosciences stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $156.22, for a total transaction of $5,770,298.14. Following the sale, the insider directly owned 22,374 shares of the company’s stock, valued at $3,495,266.28. The trade was a 62.28% decrease in their position. 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. Over the last three months, insiders sold 114,375 shares of company stock valued at $18,994,756. 4.60% of the stock is currently owned by insiders.

About Neurocrine Biosciences

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.