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

Hsbc Holdings PLC decreased its holdings in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 62.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 68,292 shares of the company’s stock after selling 115,365 shares during the quarter. Hsbc Holdings PLC’s holdings in Neurocrine Biosciences were worth $9,685,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its holdings in Neurocrine Biosciences by 18.0% during the fourth quarter. AQR Capital Management LLC now owns 3,271,706 shares of the company’s stock worth $462,652,000 after purchasing an additional 498,058 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Neurocrine Biosciences by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 2,059,282 shares of the company’s stock valued at $291,342,000 after buying an additional 34,457 shares in the last quarter. Los Angeles Capital Management LLC grew its position in shares of Neurocrine Biosciences by 7.4% in the 4th quarter. Los Angeles Capital Management LLC now owns 1,291,278 shares of the company’s stock valued at $178,248,000 after buying an additional 88,522 shares during the last quarter. Northern Trust Corp grew its position in shares of Neurocrine Biosciences by 31.9% in the 4th quarter. Northern Trust Corp now owns 1,221,184 shares of the company’s stock valued at $173,201,000 after buying an additional 295,470 shares during the last quarter. Finally, Deerfield Management Company L.P. raised its stake in Neurocrine Biosciences by 1.4% during the 3rd quarter. Deerfield Management Company L.P. now owns 1,184,345 shares of the company’s stock worth $166,258,000 after acquiring an additional 16,543 shares in the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

Neurocrine Biosciences Stock Performance

NASDAQ NBIX opened at $168.52 on Friday. The firm’s fifty day moving average is $151.99 and its two-hundred day moving average is $141.24. Neurocrine Biosciences, Inc. has a one year low of $122.14 and a one year high of $169.57. The firm 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.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NBIX. Wall Street Zen raised shares of Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 25th. Zacks Research upgraded Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Citigroup boosted their target price on Neurocrine Biosciences from $242.00 to $246.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Weiss Ratings upgraded Neurocrine Biosciences from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday. Finally, Sanford C. Bernstein began coverage on Neurocrine Biosciences in a research report on Friday, May 22nd. They set an “outperform” rating and a $221.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $187.52.

Insider Transactions at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director Richard F. Pops sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $157.65, for a total transaction of $2,364,750.00. Following the completion of the sale, the director directly owned 34,480 shares of the company’s stock, valued at $5,435,772. This represents a 30.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kevin Charles Gorman sold 245,088 shares of the stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $154.33, for a total value of $37,824,431.04. Following the sale, the director directly owned 511,293 shares of the company’s stock, valued at $78,907,848.69. The trade was a 32.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 355,234 shares of company stock worth $55,330,060 over the last three months. 4.60% of the stock is currently owned by company insiders.

Neurocrine Biosciences Company 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.