First Hawaiian Bank Has $724,000 Stock Position in Neurocrine Biosciences, Inc. (NASDAQ:NBIX)

First Hawaiian Bank reduced its stake in shares of Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 46.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,550 shares of the company's stock after selling 5,693 shares during the quarter. First Hawaiian Bank's holdings in Neurocrine Biosciences were worth $724,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Dodge & Cox grew its position in shares of Neurocrine Biosciences by 134.2% during the 4th quarter. Dodge & Cox now owns 3,016,425 shares of the company's stock worth $411,742,000 after buying an additional 1,728,605 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Neurocrine Biosciences during the 4th quarter valued at $115,193,000. Wellington Management Group LLP boosted its position in shares of Neurocrine Biosciences by 102.9% in the 4th quarter. Wellington Management Group LLP now owns 1,457,425 shares of the company's stock worth $198,939,000 after purchasing an additional 739,199 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in Neurocrine Biosciences by 2,759.4% during the 4th quarter. Thrivent Financial for Lutherans now owns 737,772 shares of the company's stock worth $100,705,000 after buying an additional 711,970 shares during the last quarter. Finally, Orbimed Advisors LLC increased its position in Neurocrine Biosciences by 210.4% during the 4th quarter. Orbimed Advisors LLC now owns 938,120 shares of the company's stock valued at $128,053,000 after buying an additional 635,900 shares in the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Neurocrine Biosciences Price Performance

Neurocrine Biosciences stock traded down $0.48 during trading hours on Wednesday, hitting $124.52. The company had a trading volume of 833,464 shares, compared to its average volume of 1,139,460. Neurocrine Biosciences, Inc. has a fifty-two week low of $84.23 and a fifty-two week high of $157.98. The firm has a market capitalization of $12.32 billion, a P/E ratio of 37.85, a price-to-earnings-growth ratio of 0.77 and a beta of 0.26. The firm's fifty day moving average is $109.75 and its 200-day moving average is $121.85.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.62). The company had revenue of $572.60 million for the quarter, compared to the consensus estimate of $587.06 million. Neurocrine Biosciences had a net margin of 14.49% and a return on equity of 13.38%. Neurocrine Biosciences's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the business earned $1.20 earnings per share. Analysts anticipate that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Neurocrine Biosciences announced that its Board of Directors has initiated a stock repurchase plan on Friday, February 21st that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 4.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts have weighed in on NBIX shares. Guggenheim boosted their price target on Neurocrine Biosciences from $155.00 to $165.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th. UBS Group upped their target price on Neurocrine Biosciences from $137.00 to $152.00 and gave the company a "buy" rating in a research report on Tuesday, May 6th. Canaccord Genuity Group increased their price target on shares of Neurocrine Biosciences from $158.00 to $160.00 and gave the stock a "buy" rating in a report on Tuesday, May 6th. HC Wainwright decreased their price objective on shares of Neurocrine Biosciences from $185.00 to $168.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Finally, Bank of America cut their price objective on shares of Neurocrine Biosciences from $184.00 to $179.00 and set a "buy" rating on the stock in a research note on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company's stock. According to MarketBeat, Neurocrine Biosciences has an average rating of "Moderate Buy" and a consensus price target of $162.00.

Insider Activity at Neurocrine Biosciences

In other Neurocrine Biosciences news, Director William H. Rastetter sold 30,000 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $110.20, for a total value of $3,306,000.00. Following the transaction, the director now directly owns 37,491 shares of the company's stock, valued at approximately $4,131,508.20. This trade represents a 44.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kevin Charles Gorman sold 9,613 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $120.38, for a total value of $1,157,212.94. Following the transaction, the director now owns 514,596 shares of the company's stock, valued at $61,947,066.48. The trade was a 1.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.80% of the stock is currently owned by insiders.

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.