Hsbc Holdings PLC Has $24.30 Million Stock Holdings in Neurocrine Biosciences, Inc. $NBIX

Hsbc Holdings PLC lifted its position in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 169.8% during the 1st quarter, HoldingsChannel.com reports. The firm owned 184,222 shares of the company’s stock after buying an additional 115,930 shares during the quarter. Hsbc Holdings PLC’s holdings in Neurocrine Biosciences were worth $24,297,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in NBIX. AQR Capital Management LLC raised its holdings in Neurocrine Biosciences by 83.7% in the 3rd quarter. AQR Capital Management LLC now owns 2,773,648 shares of the company’s stock valued at $388,435,000 after buying an additional 1,263,633 shares during the last quarter. Norges Bank bought a new stake in Neurocrine Biosciences during the 4th quarter worth approximately $162,664,000. UBS Group AG grew its holdings in Neurocrine Biosciences by 169.8% during the 4th quarter. UBS Group AG now owns 983,528 shares of the company’s stock worth $139,494,000 after acquiring an additional 618,956 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new position in Neurocrine Biosciences in the 4th quarter valued at approximately $65,162,000. Finally, Two Sigma Investments LP acquired a new position in Neurocrine Biosciences in the 3rd quarter valued at approximately $48,791,000. Institutional investors and hedge funds own 92.59% of the company’s stock.

Wall Street Analysts Forecast Growth

NBIX has been the subject of several analyst reports. Leerink Partners raised their price target on shares of Neurocrine Biosciences from $160.00 to $170.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. Truist Financial boosted their price objective on shares of Neurocrine Biosciences from $155.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. Wall Street Zen upgraded Neurocrine Biosciences from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 25th. Canaccord Genuity Group raised their target price on Neurocrine Biosciences from $164.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, April 7th. Finally, Sanford C. Bernstein started coverage on Neurocrine Biosciences in a report on Friday, May 22nd. They set an “outperform” rating and a $221.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $194.05.

Neurocrine Biosciences Stock Performance

Neurocrine Biosciences stock opened at $179.05 on Wednesday. Neurocrine Biosciences, Inc. has a 52-week low of $122.14 and a 52-week high of $181.18. The firm has a 50 day moving average price of $164.65 and a two-hundred day moving average price of $144.28. The firm has a market cap of $18.00 billion, a price-to-earnings ratio of 27.59, a PEG ratio of 0.69 and a beta of 0.39.

Insider Buying and Selling

In other news, Director Stephen A. Sherwin sold 25,000 shares of the stock in a transaction on Friday, June 5th. The shares were sold at an average price of $165.32, for a total transaction of $4,133,000.00. Following the completion of the sale, the director directly owned 15,860 shares in the company, valued at $2,621,975.20. This represents a 61.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Leslie V. Norwalk sold 1,250 shares of Neurocrine Biosciences stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $168.06, for a total transaction of $210,075.00. Following the transaction, the director directly owned 2,838 shares of the company’s stock, valued at $476,954.28. This represents a 30.58% decrease in their position. 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. In the last 90 days, insiders sold 394,172 shares of company stock worth $62,221,181. Corporate insiders own 4.60% of the company’s stock.

About Neurocrine Biosciences

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.