Neurocrine Biosciences, Inc. $NBIX Stock Position Increased by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC increased its stake in Neurocrine Biosciences by 14.4%, holding 243,035 shares worth approximately $26.9 million by the end of the first quarter.
• Investment analysts have shown a positive outlook on Neurocrine Biosciences, with a consensus rating of "Moderate Buy" and an average price target of $159.50.
• Insider trading activity revealed significant share sales, with Director Kevin Charles Gorman selling 106,322 shares for over $13.4 million, marking a 17.12% decrease in his ownership.

Hsbc Holdings PLC increased its stake in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 14.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 243,035 shares of the company's stock after buying an additional 30,681 shares during the quarter. Hsbc Holdings PLC owned about 0.25% of Neurocrine Biosciences worth $26,887,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. OneDigital Investment Advisors LLC grew its stake in Neurocrine Biosciences by 2.1% during the 4th quarter. OneDigital Investment Advisors LLC now owns 4,215 shares of the company's stock valued at $575,000 after purchasing an additional 87 shares in the last quarter. Utah Retirement Systems grew its stake in Neurocrine Biosciences by 0.6% during the 4th quarter. Utah Retirement Systems now owns 16,583 shares of the company's stock valued at $2,264,000 after purchasing an additional 100 shares in the last quarter. DE Burlo Group Inc. grew its stake in Neurocrine Biosciences by 2.2% during the 1st quarter. DE Burlo Group Inc. now owns 4,717 shares of the company's stock valued at $522,000 after purchasing an additional 100 shares in the last quarter. GeoWealth Management LLC grew its stake in Neurocrine Biosciences by 65.4% during the 4th quarter. GeoWealth Management LLC now owns 258 shares of the company's stock valued at $35,000 after purchasing an additional 102 shares in the last quarter. Finally, Sheaff Brock Investment Advisors LLC grew its stake in Neurocrine Biosciences by 4.8% during the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 2,619 shares of the company's stock valued at $290,000 after purchasing an additional 120 shares in the last quarter. Institutional investors and hedge funds own 92.59% of the company's stock.

Insider Buying and Selling

In related news, insider Ingrid Delaet sold 457 shares of the company's stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $135.00, for a total transaction of $61,695.00. Following the completion of the transaction, the insider directly owned 4,730 shares in the company, valued at $638,550. This represents a 8.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jude Onyia sold 59,819 shares of the company's stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $130.46, for a total value of $7,803,986.74. Following the transaction, the insider owned 18,289 shares of the company's stock, valued at approximately $2,385,982.94. The trade was a 76.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 186,960 shares of company stock worth $23,955,553 in the last three months. 4.30% of the stock is owned by insiders.

Neurocrine Biosciences Trading Up 1.3%

NBIX traded up $1.76 during trading on Wednesday, reaching $138.60. 350,617 shares of the company were exchanged, compared to its average volume of 1,245,094. The stock has a market cap of $13.75 billion, a P/E ratio of 41.01, a PEG ratio of 0.97 and a beta of 0.25. The firm has a 50 day moving average of $130.55 and a 200 day moving average of $118.98. Neurocrine Biosciences, Inc. has a 52 week low of $84.23 and a 52 week high of $154.61.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.06 EPS for the quarter, topping analysts' consensus estimates of $0.98 by $0.08. The firm had revenue of $687.50 million during the quarter, compared to the consensus estimate of $653.09 million. Neurocrine Biosciences had a return on equity of 13.22% and a net margin of 13.88%.The firm's revenue was up 16.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.63 EPS. As a group, analysts forecast that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NBIX. The Goldman Sachs Group began coverage on Neurocrine Biosciences in a research note on Thursday, July 10th. They set a "buy" rating and a $182.00 price objective for the company. Truist Financial began coverage on Neurocrine Biosciences in a research note on Monday, July 21st. They set a "buy" rating and a $163.00 price objective for the company. Guggenheim raised their price objective on Neurocrine Biosciences from $165.00 to $175.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Morgan Stanley raised their price objective on Neurocrine Biosciences from $150.00 to $158.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Finally, Piper Sandler lifted their target price on Neurocrine Biosciences from $154.00 to $175.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Eighteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $159.50.

Neurocrine Biosciences Profile

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.