Hsbc Holdings PLC Sells 26,793 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Hsbc Holdings PLC decreased its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 19.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 113,073 shares of the company’s stock after selling 26,793 shares during the quarter. Hsbc Holdings PLC owned about 0.11% of Neurocrine Biosciences worth $15,577,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Neurocrine Biosciences in the fourth quarter worth about $35,731,000. The Manufacturers Life Insurance Company increased its stake in Neurocrine Biosciences by 18.3% during the 4th quarter. The Manufacturers Life Insurance Company now owns 116,955 shares of the company’s stock worth $15,410,000 after purchasing an additional 18,070 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Neurocrine Biosciences by 3.5% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 252,565 shares of the company’s stock worth $34,834,000 after buying an additional 8,630 shares during the period. Vanguard Group Inc. lifted its stake in Neurocrine Biosciences by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 9,710,328 shares of the company’s stock valued at $1,279,433,000 after buying an additional 150,485 shares in the last quarter. Finally, Perceptive Advisors LLC boosted its holdings in shares of Neurocrine Biosciences by 70.1% in the fourth quarter. Perceptive Advisors LLC now owns 270,794 shares of the company’s stock valued at $35,680,000 after buying an additional 111,552 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Insider Transactions at Neurocrine Biosciences

In related news, insider Ingrid Delaet sold 273 shares of Neurocrine Biosciences stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $147.70, for a total transaction of $40,322.10. Following the completion of the sale, the insider now directly owns 6,607 shares of the company’s stock, valued at approximately $975,853.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Neurocrine Biosciences news, insider Ingrid Delaet sold 273 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $147.70, for a total transaction of $40,322.10. Following the transaction, the insider now owns 6,607 shares in the company, valued at approximately $975,853.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William H. Rastetter sold 14,250 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $146.69, for a total transaction of $2,090,332.50. Following the completion of the sale, the director now directly owns 37,491 shares of the company’s stock, valued at approximately $5,499,554.79. The disclosure for this sale can be found here. Insiders sold a total of 71,798 shares of company stock worth $10,676,096 over the last quarter. Company insiders own 4.30% of the company’s stock.

Analyst Ratings Changes

NBIX has been the topic of a number of research analyst reports. Oppenheimer raised their price objective on shares of Neurocrine Biosciences from $216.00 to $219.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Royal Bank of Canada reduced their price objective on Neurocrine Biosciences from $143.00 to $136.00 and set a “sector perform” rating for the company in a research report on Thursday, August 29th. JPMorgan Chase & Co. lifted their target price on Neurocrine Biosciences from $173.00 to $181.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Morgan Stanley upped their price target on Neurocrine Biosciences from $160.00 to $170.00 and gave the stock an “overweight” rating in a research report on Friday, July 12th. Finally, StockNews.com upgraded shares of Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 4th. Five equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Neurocrine Biosciences currently has an average rating of “Moderate Buy” and a consensus price target of $162.20.

Neurocrine Biosciences Price Performance

Shares of Neurocrine Biosciences stock opened at $118.35 on Monday. Neurocrine Biosciences, Inc. has a 1 year low of $103.63 and a 1 year high of $157.98. The company has a market capitalization of $11.91 billion, a price-to-earnings ratio of 32.60 and a beta of 0.37. The business has a fifty day simple moving average of $138.49 and a two-hundred day simple moving average of $138.21.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its earnings results on Thursday, August 1st. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.52). The company had revenue of $590.20 million for the quarter, compared to the consensus estimate of $545.98 million. Neurocrine Biosciences had a return on equity of 14.86% and a net margin of 16.00%. The business’s quarterly revenue was up 30.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.95 EPS. As a group, equities analysts anticipate that Neurocrine Biosciences, Inc. will post 4.19 earnings per share for the current fiscal year.

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.