Hsbc Holdings PLC Purchases Shares of 115,990 Neurocrine Biosciences, Inc. $NBIX

Hsbc Holdings PLC purchased a new position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 115,990 shares of the company’s stock, valued at approximately $19,578,000. Hsbc Holdings PLC owned about 0.11% of Neurocrine Biosciences at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Bank of America Corp DE raised its stake in shares of Neurocrine Biosciences by 10.6% in the first quarter. Bank of America Corp DE now owns 583,827 shares of the company’s stock worth $76,913,000 after purchasing an additional 55,723 shares during the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Neurocrine Biosciences during the fourth quarter worth about $1,866,000. Wesbanco Bank Inc. boosted its position in Neurocrine Biosciences by 88.9% in the fourth quarter. Wesbanco Bank Inc. now owns 17,000 shares of the company’s stock valued at $2,411,000 after buying an additional 8,000 shares during the last quarter. SEB Asset Management AB purchased a new stake in Neurocrine Biosciences in the first quarter valued at approximately $10,483,000. Finally, ABN AMRO Bank N.V. acquired a new position in Neurocrine Biosciences in the 2nd quarter worth approximately $2,510,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Neurocrine Biosciences Trading Down 0.4%

Neurocrine Biosciences stock opened at $155.92 on Friday. Neurocrine Biosciences, Inc. has a 12 month low of $122.14 and a 12 month high of $186.12. The stock’s 50 day simple moving average is $166.86 and its two-hundred day simple moving average is $149.40. The firm has a market cap of $15.85 billion, a PE ratio of 22.86, a P/E/G ratio of 0.73 and a beta of 0.39.

Neurocrine Biosciences (NASDAQ:NBIX) last issued its quarterly earnings data on Friday, July 31st. The company reported $2.85 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $1.20. The business had revenue of $959.00 million for the quarter, compared to analysts’ expectations of $891.16 million. Neurocrine Biosciences had a net margin of 20.91% and a return on equity of 22.43%. The business’s revenue was up 39.5% on a year-over-year basis. During the same quarter last year, the company earned $1.65 EPS. On average, equities research analysts forecast that Neurocrine Biosciences, Inc. will post 7.25 EPS for the current year.

Insider Activity

In related news, insider Ingrid Delaet sold 4,367 shares of the firm’s stock in a transaction on Friday, July 10th. The shares were sold at an average price of $181.02, for a total transaction of $790,514.34. Following the sale, the insider owned 16,225 shares in the company, valued at approximately $2,937,049.50. This trade represents a 21.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Darin Lippoldt sold 10,000 shares of Neurocrine Biosciences stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $179.60, for a total transaction of $1,796,000.00. Following the completion of the transaction, the insider directly owned 54,729 shares of the company’s stock, valued at $9,829,328.40. The trade was a 15.45% 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. Insiders have sold a total of 114,375 shares of company stock worth $18,994,756 in the last ninety days. Corporate insiders own 4.60% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Canaccord Genuity Group raised their price target on shares of Neurocrine Biosciences from $200.00 to $210.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. JPMorgan Chase & Co. increased their price objective on shares of Neurocrine Biosciences from $177.00 to $185.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. BMO Capital Markets raised their target price on shares of Neurocrine Biosciences from $144.00 to $170.00 and gave the stock a “market perform” rating in a report on Monday, July 13th. Weiss Ratings upgraded shares of Neurocrine Biosciences from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday. Finally, Wells Fargo & Company upped their price target on shares of Neurocrine Biosciences from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Neurocrine Biosciences has a consensus rating of “Moderate Buy” and an average target price of $200.86.

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.