Neurocrine Biosciences, Inc. $NBIX Holdings Cut by First Hawaiian Bank

Key Points

• First Hawaiian Bank reduced its holdings in Neurocrine Biosciences by 46.5%, ending the first quarter with 6,550 shares valued at $724,000.
• Neurocrine Biosciences reported a $1.06 EPS for the last quarter, exceeding expectations of $0.98, with revenues of $687.50 million, up 16.5% year-over-year.
• Recent analyst upgrades have increased price targets for Neurocrine Biosciences, with UBS raising its target from $152.00 to $174.00 and maintaining a "buy" rating.

First Hawaiian Bank lowered its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX - Free Report) by 46.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,550 shares of the company's stock after selling 5,693 shares during the period. First Hawaiian Bank's holdings in Neurocrine Biosciences were worth $724,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Geneos Wealth Management Inc. lifted its holdings in Neurocrine Biosciences by 143.6% in the first quarter. Geneos Wealth Management Inc. now owns 229 shares of the company's stock worth $25,000 after acquiring an additional 135 shares during the last quarter. WPG Advisers LLC bought a new position in Neurocrine Biosciences in the first quarter worth about $32,000. Smallwood Wealth Investment Management LLC bought a new position in Neurocrine Biosciences in the first quarter worth about $34,000. SVB Wealth LLC bought a new position in Neurocrine Biosciences in the first quarter worth about $35,000. Finally, Golden State Wealth Management LLC lifted its holdings in Neurocrine Biosciences by 116.9% in the first quarter. Golden State Wealth Management LLC now owns 397 shares of the company's stock worth $44,000 after acquiring an additional 214 shares during the last quarter. Institutional investors own 92.59% of the company's stock.

Neurocrine Biosciences Price Performance

Shares of NASDAQ:NBIX opened at $141.87 on Monday. Neurocrine Biosciences, Inc. has a 12 month low of $84.23 and a 12 month high of $154.61. The stock has a market cap of $14.07 billion, a price-to-earnings ratio of 41.97, a PEG ratio of 1.02 and a beta of 0.28. The stock's 50 day moving average price is $134.13 and its 200 day moving average price is $121.20.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.98 by $0.08. Neurocrine Biosciences had a return on equity of 13.22% and a net margin of 13.88%.The firm had revenue of $687.50 million for the quarter, compared to analysts' expectations of $653.09 million. During the same quarter in the previous year, the company earned $1.63 earnings per share. The firm's quarterly revenue was up 16.5% compared to the same quarter last year. On average, sell-side analysts expect that Neurocrine Biosciences, Inc. will post 4.28 EPS for the current year.

Analyst Upgrades and Downgrades

NBIX has been the topic of a number of recent research reports. UBS Group raised their target price on shares of Neurocrine Biosciences from $152.00 to $174.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Royal Bank Of Canada lifted their price target on Neurocrine Biosciences from $144.00 to $149.00 and gave the company an "outperform" rating in a report on Friday, September 5th. Truist Financial began coverage on Neurocrine Biosciences in a report on Monday, July 21st. They set a "buy" rating and a $163.00 price target on the stock. Morgan Stanley lifted their price target on Neurocrine Biosciences from $158.00 to $163.00 and gave the company an "overweight" rating in a report on Friday, September 5th. Finally, Wedbush lifted their price target on Neurocrine Biosciences from $137.00 to $141.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Eighteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $160.00.

Insiders Place Their Bets

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 106,322 shares of Neurocrine Biosciences stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $126.41, for a total value of $13,440,164.02. Following the transaction, the director owned 514,596 shares in the company, valued at approximately $65,050,080.36. The trade was a 17.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Jude Onyia sold 59,819 shares of Neurocrine Biosciences stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $130.46, for a total transaction of $7,803,986.74. Following the completion of the transaction, the insider owned 18,289 shares in the company, valued at approximately $2,385,982.94. This trade represents a 76.58% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 186,960 shares of company stock worth $23,955,553. 4.80% of the stock is owned by insiders.

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.

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