Hsbc Holdings PLC Has $29 Million Stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Hsbc Holdings PLC reduced its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 4.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 212,354 shares of the company’s stock after selling 10,904 shares during the quarter. Hsbc Holdings PLC owned 0.21% of Neurocrine Biosciences worth $28,998,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in NBIX. Golden State Wealth Management LLC bought a new stake in shares of Neurocrine Biosciences in the 4th quarter valued at about $25,000. Huntington National Bank increased its position in Neurocrine Biosciences by 73.5% during the fourth quarter. Huntington National Bank now owns 229 shares of the company’s stock worth $31,000 after buying an additional 97 shares during the last quarter. Brooklyn Investment Group raised its stake in Neurocrine Biosciences by 99.1% in the fourth quarter. Brooklyn Investment Group now owns 231 shares of the company’s stock valued at $32,000 after buying an additional 115 shares during the period. GeoWealth Management LLC lifted its position in shares of Neurocrine Biosciences by 65.4% in the fourth quarter. GeoWealth Management LLC now owns 258 shares of the company’s stock valued at $35,000 after buying an additional 102 shares during the last quarter. Finally, Lindbrook Capital LLC boosted its stake in shares of Neurocrine Biosciences by 53.5% during the 4th quarter. Lindbrook Capital LLC now owns 373 shares of the company’s stock worth $51,000 after acquiring an additional 130 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on NBIX. Morgan Stanley reiterated an “overweight” rating and issued a $150.00 price objective (down from $185.00) on shares of Neurocrine Biosciences in a report on Friday, March 7th. Guggenheim cut their price objective on shares of Neurocrine Biosciences from $165.00 to $163.00 and set a “buy” rating for the company in a research report on Monday, February 10th. William Blair restated an “outperform” rating on shares of Neurocrine Biosciences in a report on Friday, February 7th. Wedbush lowered their target price on Neurocrine Biosciences from $157.00 to $147.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. Finally, UBS Group reduced their price target on Neurocrine Biosciences from $154.00 to $137.00 and set a “buy” rating for the company in a research note on Friday, April 4th. Three investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $161.14.

Neurocrine Biosciences Stock Performance

Shares of NBIX opened at $106.73 on Friday. Neurocrine Biosciences, Inc. has a 52-week low of $84.23 and a 52-week high of $157.98. The firm has a market cap of $10.56 billion, a price-to-earnings ratio of 32.44, a PEG ratio of 0.77 and a beta of 0.33. The business’s fifty day moving average is $107.16 and its 200-day moving average is $122.08.

Neurocrine Biosciences (NASDAQ:NBIX) last released its earnings results on Thursday, February 6th. The company reported $1.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.62). Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.38%. As a group, research analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences announced that its board has authorized a share buyback plan on Friday, February 21st that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 4.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, Director Kevin Charles Gorman sold 5,844 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $116.69, for a total value of $681,936.36. Following the completion of the transaction, the director now owns 521,618 shares in the company, valued at $60,867,604.42. This trade represents a 1.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Julie Cooke sold 1,740 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $152.89, for a total transaction of $266,028.60. Following the completion of the transaction, the insider now owns 18,202 shares of the company’s stock, valued at approximately $2,782,903.78. This trade represents a 8.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 167,906 shares of company stock worth $24,671,530 in the last three months. 4.30% of the stock is owned by corporate insiders.

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.