Hsbc Holdings PLC Sells 10,904 Shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

Hsbc Holdings PLC decreased its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 4.9% in the 4th quarter, Holdings Channel reports. The firm owned 212,354 shares of the company’s stock after selling 10,904 shares during the quarter. Hsbc Holdings PLC’s holdings in Neurocrine Biosciences were worth $28,998,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Stifel Financial Corp boosted its position in shares of Neurocrine Biosciences by 24.2% during the 4th quarter. Stifel Financial Corp now owns 22,676 shares of the company’s stock valued at $3,095,000 after purchasing an additional 4,425 shares in the last quarter. OneDigital Investment Advisors LLC lifted its stake in Neurocrine Biosciences by 2.1% in the fourth quarter. OneDigital Investment Advisors LLC now owns 4,215 shares of the company’s stock valued at $575,000 after buying an additional 87 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of Neurocrine Biosciences by 368.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,580 shares of the company’s stock worth $1,444,000 after buying an additional 8,323 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its position in shares of Neurocrine Biosciences by 84.6% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 56,120 shares of the company’s stock worth $7,661,000 after buying an additional 25,720 shares during the period. Finally, Trajan Wealth LLC bought a new stake in shares of Neurocrine Biosciences in the 4th quarter valued at $213,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on NBIX shares. UBS Group cut their target price on shares of Neurocrine Biosciences from $154.00 to $137.00 and set a “buy” rating on the stock in a research note on Friday, April 4th. Royal Bank of Canada raised shares of Neurocrine Biosciences from a “sector perform” rating to an “outperform” rating and cut their price objective for the stock from $138.00 to $137.00 in a research report on Monday, April 14th. StockNews.com downgraded Neurocrine Biosciences from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 20th. Bank of America dropped their price target on Neurocrine Biosciences from $184.00 to $179.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Finally, Evercore ISI reduced their price objective on Neurocrine Biosciences from $190.00 to $185.00 and set an “outperform” rating for the company in a research note on Thursday. Three analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $161.14.

Neurocrine Biosciences Price Performance

NASDAQ NBIX opened at $106.73 on Friday. The company has a fifty day moving average price of $107.16 and a 200-day moving average price of $122.08. 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. Neurocrine Biosciences, Inc. has a 1 year low of $84.23 and a 1 year high of $157.98.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings data 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 return on equity of 13.38% and a net margin of 14.49%. On average, research analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current fiscal year.

Neurocrine Biosciences announced that its board has initiated a share buyback program on Friday, February 21st that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to purchase up to 4.2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other news, insider Ingrid Delaet sold 623 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $149.29, for a total transaction of $93,007.67. Following the completion of the transaction, the insider now directly owns 3,442 shares of the company’s stock, valued at $513,856.18. This represents a 15.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kevin Charles Gorman sold 2,707 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $152.92, for a total transaction of $413,954.44. Following the sale, the director now owns 517,030 shares of the company’s stock, valued at approximately $79,064,227.60. The trade was a 0.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 167,906 shares of company stock valued at $24,671,530 over the last three months. Corporate insiders own 4.30% of the company’s stock.

About Neurocrine Biosciences

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.