Neurocrine Biosciences, Inc. $NBIX Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC cut its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 62.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 68,292 shares of the company’s stock after selling 115,365 shares during the period. Hsbc Holdings PLC owned approximately 0.07% of Neurocrine Biosciences worth $9,685,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in NBIX. Royal Bank of Canada boosted its position in shares of Neurocrine Biosciences by 36.7% during the 1st quarter. Royal Bank of Canada now owns 82,810 shares of the company’s stock worth $9,158,000 after purchasing an additional 22,224 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Neurocrine Biosciences by 60.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,783 shares of the company’s stock valued at $1,647,000 after purchasing an additional 5,577 shares during the period. NewEdge Advisors LLC lifted its stake in Neurocrine Biosciences by 56.3% during the first quarter. NewEdge Advisors LLC now owns 7,630 shares of the company’s stock worth $844,000 after purchasing an additional 2,747 shares in the last quarter. Empowered Funds LLC acquired a new position in Neurocrine Biosciences during the first quarter worth $1,333,000. Finally, Geneos Wealth Management Inc. boosted its position in shares of Neurocrine Biosciences by 143.6% during the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company’s stock worth $25,000 after buying an additional 135 shares during the period. 92.59% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Neurocrine Biosciences news, Director Stephen A. Sherwin sold 25,000 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $165.32, for a total value of $4,133,000.00. Following the sale, the director directly owned 15,860 shares of the company’s stock, valued at approximately $2,621,975.20. This represents a 61.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kevin Charles Gorman sold 245,088 shares of the firm’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $154.33, for a total transaction of $37,824,431.04. Following the completion of the sale, the director owned 511,293 shares in the company, valued at $78,907,848.69. The trade was a 32.40% 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 have sold 355,234 shares of company stock valued at $55,330,060 over the last ninety days. 4.60% of the stock is currently owned by corporate insiders.

Neurocrine Biosciences Stock Performance

Shares of Neurocrine Biosciences stock opened at $168.52 on Friday. Neurocrine Biosciences, Inc. has a one year low of $122.14 and a one year high of $169.57. The company has a market cap of $16.94 billion, a PE ratio of 25.97, a P/E/G ratio of 0.65 and a beta of 0.40. The business has a 50-day simple moving average of $151.99 and a 200-day simple moving average of $141.24.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Royal Bank Of Canada boosted their price objective on Neurocrine Biosciences from $180.00 to $183.00 and gave the company an “outperform” rating in a report on Friday, May 29th. Needham & Company LLC reaffirmed a “buy” rating and issued a $185.00 target price on shares of Neurocrine Biosciences in a research report on Monday, April 6th. Canaccord Genuity Group boosted their price target on shares of Neurocrine Biosciences from $164.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, April 7th. JPMorgan Chase & Co. lifted their price objective on shares of Neurocrine Biosciences from $177.00 to $185.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Finally, Wedbush upped their target price on shares of Neurocrine Biosciences from $166.00 to $176.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $187.52.

Neurocrine Biosciences 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.